Multiple choice questions 7-10 please, thanks C Normancia MURUVES D. Behavioral anomalies 7. Which of the following statements is most accurate with regard to red flags for fraud? A. Red flags are compelling indicators that fraud has occurred. FRAUD CASE BOOK The Satyam Scandal and the following articles or other related articles regarding the Satya cale and then answer the questions below: Deco ag sound accounting B. The investigation and resolution of red flags is the final step in the ancial performance, audit process. of the company. C. Financial performance deviations from budgeted numbers should nation and detection always be a cause for alarm and suggest the need for a fraud ollusion presents a investigation. D. Most red flags are explainable anomalies and are not, after prevent a single subsequent investigation, indicators of fraud. 8. Which of the following is not considered a reason for the incorporation etion of fraud acts of nonfinancial numbers in fraud detection efforts? A. Nonfinancial numbers have little use in fraud detection because it ervisory oversight is financial numbers that have been manipulated. B. Management wants operations to run smoothly and many er prepared to deal operational decisions are dependent on the accuracy and integrity ernal auditors. of nonfinancial information. ment on Auditing C. Nonfinancial numbers are often generated outside the accounting and reporting system and thus may not be subject to the same types financial officers of manipulations found with fraudulent accounting numbers. D. Nonfinancial data should be correlated with or reconciled to, financial data. orming 9. Which of the following is not a step in the targeted fraud risk throughout the assessment process? executives A. Identify the parties who have the ability to commit the potential fraud. materiality. B. Place the parties who most likely committed the potential fraud for managers, under arrest to illicit a confession. C. Identify, understand, and evaluate the company's operating constitute fraud. environment and the pressures that exist. D. Review past fraud experience within the company for the process e factors. being evaluated. Which of the 10. Considering the targeted fraud risk assessment process, which of the ection? following is most accurate? A. The targeted fraud risk assessment process is centered on the likelihood (probability) and magnitude (dollar value) that fraud will occur. ernal auditors B. The targeted fraud risk assessment process is centered on the tor) of fraud? likelihood (probability) and magnitude (dollar value) that fraud has occurred. C. The targeted fraud risk assessment process is centered on the likelihood (probability) and magnitude (dollar value) that fraud has not occurred. D. The targeted fraud risk assessment process is centered on the regard to red likelihood (probability) and magnitude (dollar value) that fraud may occur. curred
