ACC 117 Lecture Notes - Lecture 4: Modus Operandi, Fiduciary, Forensic Accounting
Document Summary
Fraud examination is resolving allegations of fraud. Forensic accounting is the use of any accounting knowledge or skill for courtroom purposes, involves a lot more than fraud. Totality of circumstances that would lead a trained individual to believe that a fraud has occurred, is occurring or will occur. Anonymous tip is a common method for uncovering fraud. Takes various sources of incomplete circumstantial evidence and assembles it into a coherent structure to prove/disprove the allegation. Fraud theory begins with an assumptions; then these steps. Worst case scenario hypothesis with given info. Skilled in examination of financial statements, books, records and supporting documents. Know the legal ramifications of evidence; and how to remain in. Evidence is gathered in a general then a specific manner custody of evidence. Occupational fraud and abuse is the use of one"s occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization"s resources or assets. Four common elements to the schemes are.
