Fraud Auditing and Different type of fraud Introduction Over the years‚ the role of auditors become increasingly important especially in a capitalist economy as the process of wealth creation and political stability depends heavily upon confidence in processes of accountability and how well the expected roles are being fulfilled. An auditor has the responsibility for the prevention‚ detection and reporting of fraud‚ other illegal acts and errors is one of the most controversial issues in auditing
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Proactive Fraud Auditing End of Chapter 4 in Albrecht FRAUD DETECTION Recognizing the Symptoms of Fraud Identify Risk Exposures Proactively Look for Symptoms & Exposures 1 2 Actg 537 Identify Fraud Symptoms for Each Exposure 3 4 Investigate Identified Symptoms Symptoms of Fraud What are some irregularities in source documents to look for? Missing Documents Payee Names & Addresses = Employee “Stale Items” on Bank Items” Reconciliation Excessive Voids or Credits
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Costs and Revenues What is cost? If you go to a store and like an item and you want to buy it‚ which of the following questions would you ask: What’s the price of …..? 0R How much does …. cost? Examples of costs – set-up Examples of costs - running Fixed Costs 5000 What happened to the fixed costs if for some reason the company had technical problems and was unable to produce for 2 weeks? What happens if the landlord decided to raise the rent due to high property prices
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Tax Description Income Tax is a tax on a person’s income‚ emoluments‚ profits arising from property‚ practice of profession‚ conduct of trade or business or on the pertinent items of gross income specified in the Tax Code of 1997 (Tax Code)‚ as amended‚ less the deductions and/or personal and additional exemptions‚ if any‚ authorized for such types of income‚ by the Tax Code‚ as amended‚ or other special laws. Types of Income Tax Personal Income Tax (PIT) is a direct tax levied on income
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What is Warehouse Ownership? Warehouse ownership can be defined or arranged based on different type of ownership. A private warehousing is operated and owned by the business organization that handle the merchandise and stored in the facility. A public warehousing is operated as an independent business offering a range of for-hire services‚ such as storage‚ handling‚ and transportation. Public warehouse operators generally offer a menu of relatively standardized services to customers. Contract
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|PROJECT ON | | | |BANKING FRAUDS | | | SUBMITTED BY: • PRAJAKTA JADHAV - 9
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T.O.K. Essay To what extent does the scientific method allow us to uncover truth? The scientific method consists of five steps: first‚ observing and recollecting information. Second‚ creating or formulating a hypothesis. Thirdly‚ scientists experiment‚ with the information and the observations they have made so as to reach to a conclusion‚ which is the fourth step. Finally‚ the last step consists in the communication‚ which is when you tell society about a new discovery or theory and the
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Warehouse Profiling I. Problem Statement A warehouse is a complicated and busy place and it can be hard to get an accurate sense of what is happening. Warehouse activity profiling is the careful measure and statistical analysis of warehouse activity. This is a necessary first step to almost any significant warehouse project: Understand the customer orders‚ which drive the system. Two types of data are applied to profile the warehouse: data pertaining to each sku and data pertaining to customer
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RM530 million Transmile accounting fraud – how Liong Sik is to assume responsibility as Chairman? Former MCA President and Cabinet Minister‚ Tun Dr. Ling Liong Sik was quite active in the past month‚ as a search with The Star archives would produce eight news items featuring him‚ including one today at the ceremony at the Universiti Tunku Abdul Rahman (Utar) campus in Kampar yesterday planting a Blue Pine tree. But he has been very reticent on what has been described as the biggest accounting and
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ORGANIZATIONAL FRAUD [pic] Submitted by: Amit Goel(amigoel@gmail.com) Mohit Goel Executive Summary For many organizations‚ “getting it right” or “getting it wrong” is a matter of survival. This study talks about the issues like‚ ‘organisational fraud’‚ ‘ethics’ & ‘empowerment’ in an organisation and their relation to standards of good behaviour in order to explore various ways in which occurrences of ever increasing frauds can be checked. Organisational Fraud can be perpetrated by those
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