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11) Fraud detection is often an imperfect process. 12) Type 1 error occurs when a fraud indicator fails to signal fraud. 13) Type 2 errors result in unnecessary fraud investigations. 14) Total fraud cost is defined as the summation of costs of prevention, costs of investigations, costs of detections, and costs of losses. 15).
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129) Presented below is a list of terms relating to fraud schemes, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. Sales skimming ________ 2. Bid rigging frauds ________ 3. Payroll fraud ________ 4. Fraudulent cost-plus billing ________.
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63) Content analysis determines the ________ of computer files and electronic communications. 64) Locating and extracting data of interest from computer-storage devices is known as a(n) ________ ________. 65) ________ ________ represents the gaining of access to files or communications that are encrypted or protected by passwords. 66) Pulling the plug can defeat.
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53) ________ ________ ________ typically involves an employee pocketing cash but not recording its collection. 54) The solution in preventing lapping of accounts receivable is ________ ________ ________ ________. 55) ________ ________ typically involves using a stolen customer check to make a payment on account. 56) ________ ________ ________ ________ may occur when.
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21) Malware can be hidden in email, downloaded software, disk or Web browser. 22) Hacker methods include social engineering, direct observation, electronic interception, and exploits. 23) Direct observation includes shoulder surfing and piggybacking. 24) Direct observation includes shoulder surfing and dumpster diving. 25) In general, vulnerabilities arise from improperly installed or configured software and.
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11) For both public and privately held companies, the Sarbanes-Oxley Act of 2002 (SOA) imposes certain requirements and restrictions on management, auditors, and company audit committees. 12) The CEO and CFO must prepare a statement to accompany the audit report to certify that the company's reported financial statements are presented fairly.
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21) The segregation of authorization from the recording of transactions and custody of assets is an essential internal control process. 22) Physical theft is only a minor threat to the solvency of most business organizations. 23) Approval (authorization) limits the initiation of a transaction or performance of an activity to selected individuals. 24).
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31) The immediate return of input information to the sender for comparison and approval is called feedback. 32) A trailer label is the last record of an inventory file, which contains a record count of the number of records in the file. 33) Detective controls are not considered transaction processing controls, but.
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77) The AICPA's Web Trust attestation program provides assurance that a merchant's Web site has A) some type of functioning information protection. B) business practices disclosure. C) transaction integrity. D) All of these answers are correct. 78) Servers that exist to support eBusiness are A) mail servers. B) file servers. C) Web servers. D) All of the above support.
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130) Describe the similarities and differences between financial statement fraud and financial statement manipulation. 131) Describe procedures or activities that a company can implement to minimize financial statement fraud. 132) You have been hired by your client to investigate an alleged fraud case. Due to the complex nature of your client's transactions,.
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126) Metaluna, Inc., is a new software company that recently began operations in 2003. Metaluna's stock is publicly traded. Listed below are several statements made recently by the CEO and Chairman of the Board of Metaluna at a directors meeting. Required: Please comment on each statement in light of the requirements.
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121) Listed below are various controls found in a system of internal control. Required: Label each of the following controls as preventive (P), detective (D), or corrective (C). ________ 1. Transaction trail ________ 2. Rotation of duties ________ 3. Reconciliation ________ 4. Visual verification ________ 5. Batch controls ________ 6. Endorsement ________ 7. Redundant processing ________ 8. Training of.
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56) The ________ budget is the budget for the entire organization. 57) ________ bonding is common for employees who are directly responsible for the custody of assets. 58) Employees can check and verify the operations of other employees when the employees are forced to take a(n) ________. 59) Closely related to direct supervision.
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55) The information security management system is an organizational ________ ________ ________ that controls special risks associated with computer-based information systems. 56) The method of risk assessment for computer systems where system vulnerabilities and threats are listed and subjectively ranked is known as the ________ approach. 57) The Treadway Commission has linked.
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106) Individuals who respond more to audio stimuli typically A) look down and to the left when recalling information. B) look up and to the left when recalling information. C) look down and to the right when recalling information. D) look up and to the right when recalling information. 107) How many written confessions should.
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116) Which of the following procedures would deter the lapping of accounts receivable? A) Segregation of accounting duties B) Training cashiers to follow strict procedures for making change C) Performing reconciliations on a register-by-register basis and separately for each cashier shift D) Limiting employee after-hours access to company resources 117) The fraud scheme that involves.
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73) The method that involves beginning with a source document and following the related transaction through the entire accounting cycle is called ________. 74) The method that begins with numbers in accounts and follows them backward to the source documents is called ________. 75) ________ ________ are individuals who specialize in analyzing.
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41) In a denial of service attack, an intruder is denied access to an organization's Web site after the intruder attempts to break through its firewalls and proxy server countermeasures. 42) In most organizations, accounting, computing, and data processing are all organized under the controller. 43) Employees should be laid off or.
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31) Invigilation is a technique used by fraud investigators to authenticate documentation. 32) A well-prepared interview conducted by a skilled interviewer can sometimes result in a confession that completely unwinds a complicated case. 33) Calibration is part of the fraud triangle. 34) Polygraphs may sometimes be used to detect dishonesty in fraud investigations. 35).
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120) Listed below is a list of terms relating to internal control processes, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. Check digit ________ 2. Upstream resubmission ________ 3. Exposure ________ 4. Control register ________ 5. Hash.
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95) The marking of a form or document to direct or restrict its further processing is called A) an endorsement. B) a restriction. C) blocking. D) a cancellation. 96) Identifying transaction documents to prevent their further or repeated use after they have performed their function is known as A) cancellation. B) restriction. C) blocking. D) endorsement. 97) The general term.
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118) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. Fidelity bond ________ 2. Tickler file ________ 3. Suspense account ________ 4. Anticipation ________ 5. Corrective.
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75) The component of internal control that is the foundation for all other components is A) risk assessment. B) information and communication. C) control activities. D) control environment. 76) One way in which a company can produce a corporate culture that supports ethical behavior is through A) emphasis on sales quotas and deadlines. B) emphasis on short-run.
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31) In the health insurance sector, the Gramm-Leach-Bliley Act, requires federal agencies that oversee the health insurance sector to implement regulatory standards aimed at protecting the security of critical information resources. 32) GASB statement #34 requires utility companies to maintain business continuity plans. 33) Criminal Code 301.2(1) makes it a federal crime.
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41) Expert qualifications include things such as race, gender, and social status. 42) Earnings management is always illegal and can never be justified by GAAP. 43) Managers can legally manipulate or manage reported financial statement figures within GAAP. 44) Stock option is an executive mechanism to prevent financial statement fraud. 45) Internal auditors should.
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110) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. OLAP ________ 2. IP ________ 3. FTP ________ 4. SQL ________ 5. POP ________ 6. Key ________ 7..
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1) Fraud examination and fraud investigation both refer to the application of accounting and other specialized skills to the prevention, detection, investigation, correction, and reporting of fraud. 2) Fraud prevention requires implementing control checklists that contain items such as firewalls and anti-virus software. 3) The ISO 27000 family of standards has over.
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96) Physical and document evidence include A) fingerprints. B) trace evidence. C) forged document. D) all of the above 97) A signed confession is A) a court-admissible evidence. B) protected under the umbrella of attorney-client privilege. C) a physical evidence. D) not admissible in court. 98) Evidence is collected in the following order: A) Observations, physical and document evidence, and interviews. B).
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105) An audit committee A) is composed only of an organization's shareholders. B) should be primarily composed of only external board members (a NYSE requirement). C) ideally should be composed only of members who are also high-level executives in the organization. D) ideally should report directly to the controller. 106) The FCPA requires that a.
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87) ________ store relatively current transaction data for quick access by management in support of tactical decision making. A) Data warehouses B) Operational databases C) Relational databases D) Data marts 88) ________ store enormous volumes of current and historical data for use in research and analysis. A) Data warehouses B) Operational databases C) Relational databases D) Data marts 89) ________.
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1) An information security system has the basic elements of any information system: hardware, software, databases, procedures, and reports. 2) The objective of the first phase of the security system life cycle is to design risk control measures such as various security measures and contingency plans. 3) One of the duties of.
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21) A fraud theory provides answers to the basic question regarding who, what, when, where, how, and why. 22) Physical and document evidence include things such as fingerprints, trace evidence, and forged or incriminating documents. 23) Physical and document evidence include audio or video recordings of suspects' activities. 24) Evidence should be collected.
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11) ISO 27000 family of standards defines standards for building, operating, and maintaining ISMSs. 12) ISO27001 includes 132 general security controls, organized under 11 topics and further broken down into over 5000 detailed controls. 13) Passive threats include information systems fraud and computer sabotage. 14) System faults represent component equipment failures such as.
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86) Information security management systems (ISMS) have which of the following objectives? A) Confidentiality B) Integrity C) Availability D) All of the above are correct. 87) A well-known standard for information security management systems development is A) SOX. B) ISO 27000. C) COBIT. D) both B and C 88) An example of fraud indicators is A) mismatch in an inventory count. B).
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97) The value reference model depicts the value chain at ________ levels of abstraction. A) one B) two C) three D) four 98) The activities related to moving a product are referred to as A) value chain activities. B) supply-chain activities. C) logistical activities. D) primary activities. 99) The ________ reference model defines the typical business model in terms of.
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111) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. API ________ 2. Firewall ________ 3. Internet ________ 4. ESB ________ 5. ORM ________ 6. SOA ________ 7..
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119) Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. FCPA ________ 2. Audit committee ________ 3. Collusion ________ 4. Application controls matrix ________ 5. Internal.
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128) Presented below is a list of terms relating to the different types of evidence and the evidence collection process, followed by definitions of those terms. Required: Match the letter next to each definition with the appropriate term. Each answer will be used only once. ________ 1. Observation ________ 2. Invigilation ________ 3. Surveillance ________.
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46) ________ tend to reduce ________, but they rarely affect the causes. 47) An exposure is a(n) ________ times its ________ consequences. 48) Deficient revenues and excessive costs reduce ________. 49) The diversion or misrepresentation of assets from either employees or third parties is known as ________ ________. 50) Fraud examination draws on the.
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123) Listed below are several examples of internal control procedures. Required: For the following internal control procedures, give the reason or objective of the control: a. Checks are mailed by someone other than the person who prepares and signs a check. b. The accounting department matches invoices received to receiving reports prior to.
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122) Presented below are ten control features, followed by ten statements describing either the achievement of a control feature (i.e., a system success) or a system deficiency. Required: On the answer line to the left of each control feature, insert the capital letter from the list of the most closely related.
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85) An analytical technique commonly used to analyze and examine an internal control process is known as a(n) A) control flowchart. B) internal control questionnaire. C) exposure checklist. D) segregation of duties. 86) An exposure is A) synonymous with risk. B) equal to risk multiplied by the likelihood of detection. C) equal to risk multiplied by the financial.
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1) The term risk is synonymous with exposure. 2) Selecting the best opportunities and managing uncertainties is part of Enterprise Risk Management (ERM). 3) COBIT stands for Control Objectives for Businesses in Technology fields. 4) ISO 27002 is a widely accepted international standard for best practices in information security. 5) Financial accounting is concerned.
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