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2 years ago

Why is it important that fraud examiners do not express opinions in their professional report?

1 answer:

6 0

According to the CFE Code of Professional Ethics it is vital that fraud examiners do now not specific opinions in their professional report.

<h3>What tasks do Fraud Examiners do?</h3>

The Fraud Examiner, Investigator, and Analyst will aid in the decision of fraud allegations through gathering evidence, recording statements, writing and producing reports, and testifying on findings.

<h3>Why is it vital for fraud examiners to observe up on even the smallest inconsistencies?</h3>

It is necessary for a fraud examiner to follow up on the smallest inconsistencies because not only is it what they are educated for however inconsistencies in reporting be the biggest indication that something primary is going on.

Learn more about fraud examiners here:

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EB10.

mafiozo [28]

Answer:

The question is incomplete; the complete question is given below.

Cost Pool Cost Driver Estimated Cost Driver Estimated Overheads

Material Material requisition 250,000.00 $105,000.00

Machining Machine hours 360, 750 $432,900.00

Inspection Number of inspections 25,000.00 $15,750.00

Answer:

Overhead rate per activity :Material- $0.42, Machining-$1.2, Inspection-$6.3

Explanation:

Activity-based costing aims to achieve better product pricing than traditional absorption cost by charging overheads to the product cost more accurately.

Activity-based costing uses cost drivers to charge overheads to cost unit as against the use of of volume-based bases like labour hours, machine hours. Overheads are first traced to the activities responsible for them- the sum is called cost pool. Cost pools are then absorbed into the cost unit using cost driver rates

Cost pool- the sum of the total overheads associated with an activity. E.g <em>$105,000 material requisition overheads.</em>

Cost driver: A factor that causes a change in the cost pool. E.g

<em>250,000 material requisitions.</em>

Cost per driver: A specific overhead absorption rate computed for an activity. It is calculated as follows:

Cost per driver = Estimated activity overheads/Total number of cost drivers

The predetermined overhead rate for each activity is calculated as follow;

Material requisition= $105,000/250,000 requisitions= $0.42 per requisition

Machining = $432,900/360,750 machine hours = $1.2 per machine hour

Inspection= $15,750/ 25,000 inspections = $6.3 per inspection

8 0

3 years ago

If overhead is applied using traditional costing based on direct labor hours, the overhead application rate is:

serious [3.7K]

Answer:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Explanation:

If overhead is applied using traditional costing based on direct labor hours, the overhead application rate is:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

<u>For example:</u>

Total estimated overhead= $150,000

Allocation base= direct labor hours

Estimated Total number of direct labor hours= 10,000

Predetermined manufacturing overhead rate= 150,000/10,000

Predetermined manufacturing overhead rate= $15 per direct labor hour

5 0

3 years ago

Your bank card has an APR of 18% and there is a 2% fee for cash advances. The bank starts charging interest on cash advances imm

Marina86 [1]

Answer:

$42

Explanation:

APR = 18% , month rate = 18%/12 = 1.5%

Fee for cash advance = 2%

Cash advance of the first day of month = $1,200

Finance charge = Cash advance * (Monthly rate + Advance cash fee)

Finance charge = $1,200*1.5% + $1,200*2%

Finance charge = $18 + $24

Finance charge = $42

So, the approximate total finance charge i will pay on this cash advance for the month is $42

4 0

3 years ago

About ____ percent of worldwide stocks of tuna, cod, and other large ocean fishes have disappeared in the last 50 years.

ehidna [41]

About ninety percent of worldwide stocks of tuna, cod, and other large ocean fishes have disappeared in the last 50 years.

Despite being present in every ocean in the world, tuna and other fishes have started disappearing. The North Atlantic, South Atlantic, as well as the Mediterranean Sea, have the worst conditions for the majority of fish species.

Bluefin, albacore, and yellowfin tuna stocks have drastically decreased as a result of years of overfishing for American and European markets. Although the Atlantic fisheries is heavily regulated, illegal fishing off the shore of coastal seas persists, particularly close to Africa, where impoverished nations cannot afford the patrols required to execute the law.

However, tuna populations cod and other large fish oceans are declining even in the world's largest oceans, and some face extinction due to the continuous pressure of intensive commercial fishing.

To learn more about overfishing click here :

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8 0

2 years ago

Data were collected in twenty major urban areas on the percent of women in the labor force. Data were collected in 1968 and agai

garri49 [273]

Answer: Matched pairs design

Explanation:

A matched pairs design is a type of study used when 2 treaments are present in an experiment. The individuals in the design can be divided into pairs using a blocking variable, and each pair can then be allocated to treatments at random. This is thus a special type of randomized block design.

In this case the blocking variable can be the various urban areas as 1968 is matched against 1972. Each city can be compared based on 2 measurements. From their each individual can be grouped into pairs and allocated to different treatments.

6 0

3 years ago