Which one of the following is not an advantage of internal controls? Select one: a. It safeguards the assets b. It increases the chance of fraud c. It ensures compliance with laws d. It enhances the reliability of accounting records

Q: Which is not among the principles contained in the development of the science of internal control? *

A: D - Ensure objectives are met

Q: What type of fraud is this, and what controls can be implemented to prevent or detect the fraud?

A:

Q: what is Segregation of Duties in accounting and how it can prevent fraud?

A: Segregation of duties: In a firm, segregation of duties (SOD) is a fundamental building element of…

Q: Question 1 (i) Which of the following will NOT be a likely ground to blow the whistle? A. When…

A: Whistle blower means a person who has insider information that some thing is going wrong in the…

Q: An audit opinion of a company’s fi nancial reports is most likely intended to:A . detect fraud.B .…

A: Audit opinion: The opinion present by an auditor of findings of the audit examination is known as…

Q: Computers remove a fundamental separation of functions between authorizing and processing…

A: It is a true statement that computers remove a basic separation strategy of separating the functions…

Q: of the three elements of the fraud triangle is not present, can fraud still b

A: The three elements of the fraud triangle are as follows: Pressure: Pressure acts as a base and…

Q: nich of the following is not stated as a primary objective of a company's internal control policies…

A: Internal control is an organization is designed and implemented by management.

Q: Which of the following is NOT one of the purposes of internal control? a. to guarantee the success…

A: Internal control involves procedures and policies to ensure the integrity of the accounting…

Q: When a company has a strong internal control structure, stockholders can expect the elimination of…

A:

Q: Which of the following is not an element of the fraudtriangle?a. Opportunityb. Control environmentc.…

A: Given: To determine the following is not an element of the fraud triangle given as,a. Opportunityb.…

Q: What rules or policies should be developed to avoid ethical fraud issues?

A: Accounting Fraud:   Intentional manipulation of financial statement to create false financial heath…

Q: Fraud risk factors are events or conditions that indicate which of the following?a. An opportunity…

A:

Q: What are the elements of the fraud triangle? How can an internal control system limit reduce the…

A: Fraud means intentional concealment or misrepresentation of material facts for gaining personal…

Q: The auditor only obtains understanding of internal control related to significant risks identified…

A: Internal control process is related with effective and efficient use of available resources and it…

Q: When it comes to control systems and materiality, why could fraud examiners' views vary from those…

A: Misstatements and judgments are taken into account when determining materiality in the design and…

Q: Which of the following would a fraudster perceive as a pressure?A. lack of management oversightB.…

A: Internal control techniques are those procedures or techniques which will ensure that objectives of…

Q: In order to eliminate ethical fraud concerns, what procedures or policies should be implemented

A: Fraudulent Accounting: Accounting fraud is explained as the deliberate manipulation of financial…

Q: Which of the following is not a purpose of internal controls?     Guarantee profits     Protect…

A: Internal control can be defined as a system to follow the rules and mechanism in the organisation so…

Q: Segregation of duties is one of the most important control activities to minimize incompatible…

A: Segregation of duty is a control mechanism that is implemented and used in order to reduce the risk…

Q: The impact of weak internal controls can affect an employee’s fraud behavior. The role of…

A: An internal control system is the sum of a large number of activities comprising of policies,…

Q: collusion between employees and management in the commission of a fraud is difficult to both prevent…

A: Collusion means agreement between two or more people for some wrongful deed particularly for a…

Q: What is the connection between criminology and the discovery or prevention of fraud? It's not the…

A: Fraud It is the deliberate act of doing anything to get illegal items and deny the victim's rights.

Q: Companies set up internal controls to protect against fraud and waste. true or false

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: Indicate whether the statement is true or false. Internal control procedures should be designed to…

A: In accounting and auditing perspective, Internal control means fulfilling organisational objectives…

Q: A company limits access to computerized accounting records. What can be said of this procedure? a.It…

A: Limited Access Control: Limited access control is a type of control that provides limited access to…

Q: When assessing the danger of substantial falsification of the financial accounts, what is the…

A: An ethical value is the value what is perceived by a person about what is correct and what is wrong…

Q: has in internal control procedures in which fraud or errors could occur? What can the company do to…

A: Every company should want to stop fraud from happening against their organization, and most…

Q: Segregation of duties is one of the most important control activities to minimize incompatible…

A: Introduction :- Segregation of Duties (SOD) is a fundamental component of a company's long-term risk…

Q: Which one of the following statements is most appropriate to Control risk? Susceptibility of account…

A: Auditing means the independent checking of company operation by outsider. Auditor is  qualified and…

Q: In what ways might accounting frauds be similar to casesof academic dishonesty?

A: Definition: Fraud: Presentation of inaccurate data, intentionally for personal gains. There could be…

Q: A business wishes to establish sound internal controls. What rules and processes can you recommend…

A: This question explains about sound internal controls.

Q: Which of the following benefits of an effective accounting information system provides safeguards…

A: Definition:   Accounting information system (AIS): An accounting information system (AIS) is a…

Q: Internal controls play an important role in reducing the risks of fraudulent activities in any…

A: Hello, since your question has multiple parts we will solve the first question for you. If you want…

Q: A company wants to implement good internal control. What are the policies and procedures you can…

A: Internal Control:   It is a process of assuring the effectiveness and efficiency of the objectives…

Q: Describe a checks an balance scenario that allows for whistleblowing and prevents retaliation to the…

A: Solution- Retaliation is defined as a direct or indirect adverse administrative decisions or action…

Q: nternal control can only provide reasonable, not absolute, assurance of achieving entity control…

A: Introduction:- Internal controls are the rules, and regulations and certain procedures executed by a…

Q: Collusion is an intentional act of two or more employees to accomplish theft of company assets.…

A: Internal controls main objective is to safeguard assets and records and to ensure that policies…

Q: Which one of the following is not an objective of a system of internal controls? Select one: 1.…

A: Internal controls are the mechanisms, rules, and procedures implemented by a company to ensure the…

Q: Identify one specific type of accounting fraud. What damage does the perpetration cause? What could…

A: An accounting fraud refers to frauds originating from within the business (internal frauds). The…