Read occupational fraud. The Association of Certified Fraud Examiners have published a rep
Read occupational fraud. The Association of Certified Fraud Examiners have published a report that can be found on Report to the Nations on Occupational Fraud and Abuse website.
Please write on each of the following:
- What is your reaction to the report? Comment on your reaction to how fraud is committed.
- Who are the victims of occupational fraud and are there any victims who have not been mentioned in the report?
- Comment on detecting fraud.
- Moreover, discuss the differences between auditing large and small companies, and auditing public and non-public companies.
- Why are transaction-related audit objectives used to develop the audit program?
- Explain the effect on tests of controls and substantive tests of eliminating certain specific controls.
- Explain the difference between occurrence and completeness for sales.
- What is the difference between a test of control and a substantive test of transactions?
- What is the difference between a substantive test of transactions and a test of details of balances?
- What is the relationship between tests of controls and substantive tests?
In your own words, explain to us why you think or you do not think, that tests of control are important factors of an audit and what would be the impact on audit design