1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
malfutka [58]
3 years ago
11

Professional auditing standards discuss the three key "conditions" that are typically present when a financial fraud occurs and

identify a lengthy list of "fraud risk factors." Briefly explain the difference between a fraud "condition" and a "fraud risk factor" and provide examples of each. What fraud conditions and fraud risk factors were apparently present in the Madoff case
Social Studies
1 answer:
slamgirl [31]3 years ago
8 0

Answer: Fraud is a crime or an offense to deliberately mislead others for the purpose of harming them, currently obtaining their property or services unfairly. Fraud can be done through aid to counterfeit objects.

Fraud risk factors are events or conditions that include encouragement or pressure for fraud to be perpetrated or offered the opportunity to occur. If there is a large amount of bills and coins, or cash in bank accounts, there is a very high risk of fraud.

In Bernard Madoff's case, he promised about 1% return per month, his strategy was to attract more and more new customers and use this money to pay older customers who wanted to redeem their income.

Generally scammers who use this system, using very aggressive marketing to attract more and more new investors, they also recruit large and renowned investors to give their business more credibility.

To justify the high return to the month, scammers always claim to have an innovative and exclusive technique in the market, and because of commercial strategy, can not reveal the operation of this technique.

You might be interested in
____ is a charge levied for borrowing money, generally earning a percentage of the amount borrowed.
Fudgin [204]
I believe the answer that you are looking for is interest.
3 0
3 years ago
Outsourcing jobs to China is THE reason behind massive loss of factory jobs in the<br> US
Mumz [18]

Answer:

False.

Explanation:

Massive job loss comes about from a change in the nature of work. For instance, how many indentured servants have you seen in the past year?

As we are in the information age, the boomer population has not been able to keep up with information demands. Many of the boomer populations still worked trade jobs and repretivive task jobs. Many jobs in the US, begun shifting away from US work source because it was too expensive. However, this does not mean that outsourcing is the "bad culprit" here. What it means, is that the US was not able to accomodate the boomer populations losing a big percentage of blue collar jobs. In fact, the specace that boomers has left behind is so big, that many young adults today are seeing a monopoly in the trading market, where there is not alot of applicants for industry jobs, trade jobs etc. Because factories needed to fill in these spots, alot of them ended up simply purchasing reobotic technology so that they wouldnt worry about this issue again.

Your statement is very misguided.

8 0
3 years ago
A group of African American students believes a college admissions test that is used by a public university discriminates agains
Ber [7]

Answer:

Option C, strict scrutiny, is the right answer.

Explanation:

In the process of judicial review, Strict scrutiny is a kind of method which is used to appraise the constitutionality of a law. In simple terms, it is a standard of review. This method of reviewing is usually employed when the individual rights of a person are infringed upon or when the Bill of Rights is violated.

It is also used when laws which involve Suspect classifications are possibly being violated.

8 0
4 years ago
What's the difference between a primary source and a secondary source​
Alexeev081 [22]

Answer:

Primary sources are  those sources that are closest to the origin of the information. e.g research

Secondary sources are often just the  analysis, interpretation, and synthesis of primary sources . like textbooks, articles,e.t.c.

Explanation:

7 0
3 years ago
State lottery officials send residents a facsimile of a contest-winning check for over $5 million to encourage them to imagine t
vladimir2022 [97]

Answer:

availability heuristic        

Explanation:

Availability heuristic: The term availability heuristic is defined as an individual's mental shortcut that depends on the sudden examples came to his or her mind while evaluating a particular concept, decision, topic, or method.

In other words, the availability heuristic refers to the process of an individual making a decision based on their mental shortcut that helps him or her to bring something into conscious mind easily.

In the question above, the lottery promoters are most clearly exploiting the influence of availability heuristic.

7 0
3 years ago
Other questions:
  • True or false pls help
    13·1 answer
  • A child who is recently admitted to school is introverted and prefers being alone at the school. Which temperament is the child
    5·1 answer
  • People maintain their folk culture despite familiarity with popular culture primarily because of question 4 options:
    15·1 answer
  • Why was traveling challenging in ancient greece?
    12·1 answer
  • How to keep track of time during a year
    14·2 answers
  • Why did African nations face so many problems following their successful independence movements?
    15·1 answer
  • Based on the research presented in your text on aggression, what advice would you give to Tim, who just found out he didn’t make
    5·1 answer
  • Why are email, texting, and other forms of digital communication so prone to inadvertent etiquette breakdowns in which even well
    10·1 answer
  • Assets purchased for long term use and not likely to be converted quickly into cash are called
    7·1 answer
  • Charles Schwab believes that client relations are a key to its success. If Kim, one of their investment specialists, doesn't bel
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!