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BartSMP [9]
3 years ago
8

One of the elements of the Fraud Triangle focuses on how easy or hard it is for the internal control system to prevent any fraud

from happening. 1) Briefly name and describe this part of the Fraud Triangle (4 pts - use about 3 sentences) 2) What are TWO procedures the Auditor would conduct in order to provide evidence about this part of the Fraud Triangle. (3 pts each - state the procedure and the evidence in about 2 sentences like... the procedure is X and the evidence is Y)
Business
1 answer:
olga55 [171]3 years ago
8 0

Answer: Opportunity

Explanation:

1. Opportunity - Given the fact that employees are granted access to very important documents, this might provide them the opportunity to commit theft. Employees who occupy top positions have access to classified information of the company which when manipulated can result to disastrous consequences. It now be holds on the employers of labour or the internal control system, to limit access to such information so as to make it hard for such fraud to be committed.

The procedures used by auditors to provide evidence are in two phases namely; the planning phase and execution phase.

1. The procedure for the planning phase is - Designing Appropriate Procedures : The evidence in this case could be a red flag noticed in the account records. The person who tried to commit the fraud could change figures in places that may not be noticeable.

2. The procedure for the execution phase involves - Implementing Appropriate Procedures : The evidence could be seen as an error. This error most likely results in wasteful spending.

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In the Republic of Sildavia, a market basket of goods and services cost $130 in 2009, $140 in 2010, and $160 in 2011. Based on t
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Answer:

23.07%

Explanation:

For computing the inflation rate first we have to determine the price index for 2011 which is shown below:

Price index for 2011 is

= (market basket of goods and services cost in year 2011) ÷ (market basket of goods and services cost in year 2009) × 100

= ($160) ÷ ($130) × 100

= 123.07%

Now the inflation rate is

= (Price index for 2011 - price index for 2009) ÷ (price index for 2009) × 100

= (123.07 - 100) ÷ (100) × 100

= 23.07%

And, the price index for 2009 is

= ($130) ÷ ($130) × 100

= 100%

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Are responsible for verifying accuracy of their organization''s internal records and validating the accounting procedures.
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Customers are more likely to tell their friends about negative experiences with companies than positive ones because:
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There is more drama involved in unmet expectations.

The reason why customers are more likely to tell their friends about negative experiences with companies than positive ones is that humans often remember the hateful things said than the nice things

Also, when customers are satisfied with one's service, they rarely tell others. whereas an unsatisfied customer would tell others about his or her bad experience due to unmet expectations.

Logically, customers would have bigger impressions in their mind when they have bad experiences reason companies work on strengthening and improving their customer experience team.

Learn more at : brainly.com/question/11437477

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