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BartSMP [9]
2 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]2 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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6.8  will be the debt-to-EBITDA ratio.

EBITDA* 8.5=Transaction Value

(Transaction value * 0.8) / EBITDA = 6.8

EBITDA, or earnings before interest, taxes, depreciation, and amortization, is a measure of a company's overall financial performance and is used as an alternative to net income in certain circumstances. However, EBITDA can be misleading because it does not reflect the cost of capital investments such as property, plant, and equipment.

This metric also excludes debt-related expenses by adding interest and tax costs to revenues. However, it is a more accurate measure of business performance as it is able to report profit before the effect of accounting and financial deductions.

Learn more about the debt-to-income ratio here: brainly.com/question/24814852

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1 year ago
A large bank is promoting its credit card to existing bank customers who have had more than one account with the bank over the p
Feliz [49]

Answer:

Behavioral.

Explanation:

A market segment is a portion of a large market in which the individuals, groups or organizations share one or more characteristics that cause them to have relatively similar products needs.

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Are four categories of segmentation:

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-Behavioral. Segmentation on the basis of use occasion, user status. The evaluation of behavior in terms of the customer/prospect’s behavior relative to your company, product, or service

7 0
3 years ago
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What is an advantage of using a comparsion method of assesment ?
stepan [7]
B (sorry if its wrong!!)
5 0
2 years ago
Outlines are effective because they
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Petrenko Corporation has outstanding 2,000 $1,000 bonds, each convertible into 50 shares of $10 par value common stock. The bond
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Explanation:

The Journal entry is given below :-

Bonds payable                                      $2,000,000

      To common stock                          $1,000,000

      To Discount on common stock     $30,000

      To Paid in capital                            $970,000

The calculation of bonds payable, common stock is below:-

For bonds payable            

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