Questions from Fraud Examination

Q: How has the Internet changed your day-to-day life

How has the Internet changed your day-to-day life? What security precautions do you take each time you use the Internet?

Q: List the four methods used to perform analytical analyses to search for

List the four methods used to perform analytical analyses to search for fmancial statement fraud symptoms. Give an example of each method as it applies to searching for symptoms related to underreport...

Q: Explain what is meant by "cutoff problems" as they relate

Explain what is meant by "cutoff problems" as they relate to accounts payable.

Q: Why might liabilities be understated if proper adjusting entries are not made

Why might liabilities be understated if proper adjusting entries are not made at the end of an accounting period?

Q: What is the difference between unearned revenue and earned revenue?

What is the difference between unearned revenue and earned revenue?

Q: If a contingent liability is only a possible liability, why might

If a contingent liability is only a possible liability, why might not disclosing contingent liabilities constitute financial statement fraud?

Q: What are some documentary symptoms of contingent liabilities that should be recorded

What are some documentary symptoms of contingent liabilities that should be recorded?

Q: Explain why improper capitalization of amounts spent could result in financial statement

Explain why improper capitalization of amounts spent could result in financial statement fraud and overstatement of assets.

Q: Is cash an asset that is frequently overstated when committing financial statement

Is cash an asset that is frequently overstated when committing financial statement fraud? Why or why not?

Q: What are the three types of fraud against organizations that employees,

What are the three types of fraud against organizations that employees, vendors, and customers use to steal an organization's assets?