6. usually invoive obtaining evidenoe for one or more of the folowing purposes:
ID: 342663 • Letter: 6
Question
6. usually invoive obtaining evidenoe for one or more of the folowing purposes: Many reasons exist to conduct a fraud Investigation, but the specific objectives a. determine if fraud is occurring, support criminal or civi action against dishonest individuals, form a basis for terminating a dishonest employee b. support an insurance claim, support defense of an accused employee. c. determine whether aseets or income were hidden by a party to a legal proceeding d. a, b, and c e. b and c , Which type of investigative technique works best at accumulating evidence to build a legai case against a financial fraudster? a Interviewing. b. Surveillance. c. Informents. d. Invigilation. e. All of the above, Question is based on the following information. The following was taken from the bank transfer scheduie prepared during the fraud audit of Fox Co.'s financial statements for the year ended December 31, year 1. Assume all checks are dated and issued on December 30, year 1. Bank Accounts Disbursement Date Per Reeipt Date Per Booke Check FromIo Books Bank Bank 101 National Federa Dec 30 Jan 4 202 County State 303 Federa American Dec 31 Jan 3 404 State Republic Jan 2Jan 2 Dec 30 Ja Dec 30 Jan 2 Jan 2 3 Dec 31 Jan 2 Dec 31 Jan 3 Jan 2 . Which of the following checks might indicate kiting? a. #101 and #303 b, #202 and #404 c, #101 and #404 d, #202 and #303 . A fraud auditor confirms a representative number of open accounts receivable as of December 31 and investigates respondents' exceptions and comments. By this procedure the fraud auditor would be most likely to leam of which of the folilowing? a. One of the cashiers has been covering a personal embezziement by lapping. b. One of the sales cierks has not been preparing charge slips for credit sales c. One of the computer control clerks has been removing al sales invoices d. The credit manager has misappropriated remittances from customers whose e. None of the above. to famly and friends. applicable to his account from the data file. accounts have been written off. Which of the following is not a standard area or type of fraud preventive control? a. Human resources. b. Antifraud training. c. Authority limits. d. All of the above are standard areas or types of fraud preventive controls.Explanation / Answer
6) a
The purpose of fraud investigation is to find out evidences and determine if fraud is occurring. Also, support in criminal or civil action against the employee and have proof to terminate them. It doesn't do to support accused employee or determine the hidden assets if any
7) e
all the techniques mentioned are useful for investigating. Interviewing, surveillance, informants and invigilation all are used to collect the maximum information and proof against fraud
8) b
Kiting is a check fraud so as to take advantage of float to use non-existent funds. 202 & 404 are receiving as per bank before the year end although disbursement shows next year date
9) a
It is the act in which cashier is covering up for personal embezzlements by lapping
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