Management and Organizational Studies 3367A/B- Midterm Exam Guide - Comprehensive Notes for the exam ( 26 pages long!)

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Intro to fraud examination video from acfe. com/higher-ed-video. aspx (make notes from this) Fraud examination only happens when you believe fraud is occurring. Scope is general for auditing, but specific for fraud. The goal of auditi(cid:374)g is opi(cid:374)io(cid:374); f(cid:396)aud is a(cid:271)out (cid:862)(cid:449)ho did this(cid:863), o(cid:396) did so(cid:373)ethi(cid:374)g happe(cid:374) The relationship with fraud examination is adversarial (pushy, trying to get someone to confess), but auditing is more non-adversarial. Presumption for auditing is professional skepticism, fraud is proof. Totality of circumstances that lead a reasonable, trained, individual to believe a fraud has occurred, is occurring, and/or will occur. Must be based on predication (or you wont do it) Risk assessment: identify the risk, dissect the risk: understand and assess, prioritize the risk: degree of risk and possible consequences, take remedial action: plan and implement a course of action, evaluate actions taken: assess and consider alternative options.

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