CFE- Fraud Prevention
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| According to the normative perspective, why do people obey the law? | show 🗑
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| show | Withdrawing a negative stimulus in exchange for the desired response
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| show | Either a negative stimulus or withdrawing a positive stimulus when presented with undesired behavior
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| According to the instrumental perspective why do people obey the law | show 🗑
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| What is the routine activities theory of crime causation | show 🗑
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| show | People learn the values, attitudes, techniques & motives for criminal behavior by communicating/participating in intimate personal groups in a way that results in an excess of definitions favorable to violations of the law
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| show | The stronger of a person's bond of affection for other law-abiding people is, the more likely the person is to consider that factor and to be deferred from committing a criminal act
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| show | Punishment
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| What are the components of classical criminology | show 🗑
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| show | Criminal behavior results from the discrepancy between what people are indoctrinated into desiring and the ability to achieve those desires
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| show | When positive rewards are gained (positive reinforcement), when punishment is avoided (negative reinforcement)
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| show | When punishment is presented (negative stimuli), when rewards are lost (negative punishment)
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| What is a white collar crime | show 🗑
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| show | Placing too much trust in Three approaches used to control corporate crime
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| Most common personal characteristic among fraudsters in Albrecht study | show 🗑
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| show | By tip
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| show | Crime that is committed by businesses and the government
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| show | Crime that is committed by businesses and the government
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| Four categories of occupational crime | show 🗑
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| show | Crime that is committed by individuals in the course of their occupation
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| Three legs of a fraud triangle | show 🗑
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| Who is responsible for the hypothesis of the fraud triangle | show 🗑
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| show | The seriousness of the offense, the organization's level of culpability
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| show | Guidelines fines, restitution, remedial orders, probation
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| types of background checks for potential employees | show 🗑
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| show | the law + other gov't regulations; industry + organizational ethical codes; social pressures; tension between personal standards and organizational needs
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| points to emphasize about a company reporting program | show 🗑
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| More reporting points | show 🗑
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| show | open-door management policies; fair + equitably applied personnel policies + procedures; measures to boost employee morale; employee support programs
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| components of a comprehensive ethics program | show 🗑
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| more components | show 🗑
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| show | the vulnerability that an organization hast to those capable of overcoming all 3 elements of the fraud triangle
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| what is inherent fraud risk | show 🗑
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| show | risks remaining after management action
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| show | to reduce the residual fraud risk to a level that is significantly smaller than the inherent fraud risk
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| show | nature of the business; environment in which it operates; effectiveness of its internal controls; ethics and values of the company
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| 4 approaches management can use to respond to residual fraud risks | show 🗑
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| show | to eliminate an asset or exit an activity that is the source of the risk
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| what does it mean to transfer fraud risk | show 🗑
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| show | to implement countermeasures against potential fraud, such as prevention and detection controls
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| show | to accept the risk other than implement any responsive measures
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| show | manual or automated processes that stop something bad from happening before it occurs
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| show | controls designed to identify something bad that has already occurred
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| what is fraud risk assessment | show 🗑
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| show | inappropriately reported revenues, expenses or both; inappropriately reflected balance sheet amounts, including reserves; inappropriately improved or masked disclosures
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| show | misappropriation of tangible assets; misappropriation of intangible assets; misappropriation of proprietary business opportunities
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| show | payment of bribes or illegal gratuities to companies, private individuals or public officials; receipt of bribes, kickbacks, or illegal gratuities; aiding + abetting of fraud by outside parties, such as customers or vendors
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| show | fraud committed: by customers (e.g. fraudulent customer payments), vendors (overfilling or collusion, competitors (corporate espionage), unrelated third parties (e.g. hacking).
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| show | identification, prioritization, treatment and monitoring of risks that threaten an organizations' ability to provide value to its stakeholders
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| show | internal environment, objective setting, event identification, risk assessment, risk response, control activities, information and communication, monitoring
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| show | Personnel at all levels of the organization
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| Board of directors' responsibilities for fraud risk management | show 🗑
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| Audit committee's responsibilities for fraud risk management | show 🗑
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| show | demonstrate a commitment to fraud risk management to the external auditors; discuss known or suspected frauds with external auditors
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| Management's responsibilities for fraud risk management | show 🗑
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| More management respons | show 🗑
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| show | have a basic understanding of fraud and its red flags; read/understand any anti-fraud policies; adhere to internal control system, as applicable; report suspicions of fraud; cooperate in investigations
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| show | Prevent fraud, detect fraud, respond to identified fraud
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| what is fraud prevention | show 🗑
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| what is fraud detection | show 🗑
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| show | responding to suspected fraud by: investigating allegation; punishing the perpetrator; remediating control weaknesses; rebuilding stakeholder confidence.
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| show | commitment, fraud awareness, affirmation process, conflict disclosure, reporting procedures + whistleblower protection, investigation process, corrective action, process evaluation + improvement; continuous monitoring
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| show | investment in anti-fraud controls; prevent of material frauds, management's risk appetite
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| what is risk appetite? | show 🗑
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| what is ethics? | show 🗑
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| show | Underlying codes of right and wrong
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| what is legality | show 🗑
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| lowest level of reference for an ethical decision | show 🗑
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| show | The branch of philosophy the involves systematizing, championing, and advocating concepts of right and wrong
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| purpose of a professional code of ethical conduct | show 🗑
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| what is reflective choice as it relates to ethics | show 🗑
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| what is professionalism as it relates to ethics | show 🗑
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| show | Body of specialized knowledge; admission to profession governed by qualifications; recognition and acceptance by society of professional status; adherence to standards of conduct of the profession;
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| show | an organization devoted to the profession's advancement
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| what is a conflict of interest in terms of a fraud investigation | show 🗑
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| show | A personal characteristic that includes honesty; trustworthiness; confidentiality; subordination of desires for personal gain to interests of clients, employers, and the public; a well developed sense of moral responsibility
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| show | Any and all information obtained in the course of an engagement, whether it be from the company or client for whom the work is performed or from any other source consulted during the work
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| what is privileged information | show 🗑
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| For purpose of a fraud examination, when is information considered material? | show 🗑
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| show | Ability to conduct examination without being influenced by one's own personal feelings or the feelings and motives of others
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| For purpose of a fraud examination, what is independence? | show 🗑
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| for purpose of fraud examination , what is due professional care? | show 🗑
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| show | Professionalism +diligence in performance of duties; avoidance of illegal or unethical conduct and conflicts of interest; integrity and professional competence in performance of assignments; compliance with laws and
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| show | and provision of truthful, unbiased testimony; evidence for all opinions rendered and avoidance of opinions re: guilt or innocence; protection of confidential info; reporting all material matters;
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| more requirements | show 🗑
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Created by:
Monatlo