1) Describe fraud.

2) What are the three categories of fraud and list an example of each.

3) Describe the fraud triangle.

4) List the key requirements of the Sarbanes-Oxley Act (SOX) 5) List the components of the framework commonly used in corporations when analyzing their internal control systems:

1.

2.

3.

4.

5.

6) List the five common principles of Internal Control and give an explanation and example of each

1.

2.

3.

4.

5.

7) Name two reasons why internal control for cash is important.

1.

2.

8) What does the term cleared the bank mean?

9) What are the two basic reasons that a companys cash records do not balance to the bank statement?

1.

2.

10) Define the following:

1. Bank errors

2. EFT

3. Service charges

4. NSF checks

5. Deposits in transit