hy does the forensic accountant need a collaborative management to do a good fraud risk assessment?
Question 1 options: Question 2 (2 points)
Your author indicates that the sponsor of the fraud risk assessment needs to be a “truth-seeker.”
(1) What is a truth-seeker?
(2) Is a “truth-seeker quality” more about the position or the traits of the individual? Explain. Question 2 options: Question 3 (1 point)
Which of these is likely to increase the quality of the fraud risk assessment or help an organization understand and use a fraud risk assessment? Question 3 options:
The fraud risk assessment was created by someone who kept the process very confidential.
The fraud risk assessment was very long and thorough, addressing all aspects of the business.
The fraud risk assessment was done with outsiders who were truth-seekers but had limited knowledge of the detail systems.
The fraud risk assessment made use of anonymous feedback mechanisms to permit anyone to add a risk factor to the process.
Question 4 (1 point)
Best practices for fraud risk assessments include all but which of these? Question 4 options:
Tailored to each organization (so you do not re-use a prior fraud risk assessment.)
Treats all fraud risks equally.
Identifies preventative and detective controls that are relevant to the risks assessed.
Includes brainstorming about financial reporting, corruption and asset misappropriation risks.