Accounting Information Systems Fraud part 1

Question

Accounting Information Systems Fraud part 1

Question # 00047934 Posted By: solutionshere Updated on: 02/11/2015 07:26 AM Due on: 02/11/2015

Subject General Questions Topic General General Questions Tutorials:

Question

Accounting Information Systems

Fraud part 1

Homework Assignment 3

Deliverable

Typed paper, no required length or number of words. I encourage you to type your answers on this document, so you have the questions and answers together. If you do that, you must still provide a bibliography with only the resources you actually used.

Do NOT directly quote from any specific resource (but DO properly reference resources utilized.) I want your own words. Follow APA citation guidelines for all resources utilized.

Assignment

1. Review the PCAOB Disciplinary report for Moore & Associates. In your opinion, were Ethos, Standard Drilling, and Biocoral committing fraud by hiring Moore & Associates? Why or why not?

2. Read pages 1-32 of the 2012 Report to the Nations (see link below.) then answer questions 3 and 4.

3. Define and describe each of three types of fraud. Include facts about the frequency, losses, duration, most common perpetrators, and most likely way the fraud is discovered.

4. Research and describe one example of each type of fraud that occurred within the past 3 years. Identify your source and the company name. For your asset misappropriation example, identify the sub-category to which your example relates (if possible.)

5. Read pages 32-38 of the 2012 Report to the Nations. Then answer questions 6, 7 and 8.

6. Give your reasoned opinion as to why external audits of financial statements and external audits of ICOFR (internal control over financial reporting) are not more effective at detecting fraud.

7. Identify and describe the three “sides” of the fraud triangle. Give one example of each “side.”

8. The concept of a fraud diamond was introduced in 2004. How does the fraud diamond differ from the fraud triangle?

Required Research Resource

2012 Report to the Nations

Potential Research Resources

Asset Misappropriation

Three Basic Fraud Types

Kickbacks, Gratuities, and Conflicts of Interest

Conflict of Interest Examples

What is Extortion?

Extortion

What is a Conflict of Interest?