Question
Please refer to the images below. For Part A, match the question to the possible error or fraud from the following options: -Accounting and classification
Please refer to the images below. For Part A, match the question to the possible error or fraud from the following options: -Accounting and classification errors
-Bank reconciliation errors
-Checks issued, not recorded
-Errors in withholding, rate
-Fictitious employees
-Fictitious employees or hours
-Fictitious employees, incomplete accounting
-Fictitious employees, unauthorized payments
-Hours overcharged (fictitious hours)
-Improper cashing of checks
-Incomplete accounting - usually cost records not complete
-Incorrect deductions
-Incorrect hours claimed and paid
-Misclassified debits in accounts
-Over/underreporting
-Retirement amounts incorrect
-Retirement obligations incorrect
-Terminated employees paid and another cashes checks (fictitious employee)
-Unauthorized employee paid (fictitious employee)
-Unauthorized employees, hours, or rate
-Unauthorized rates, improper rates
-Undetected errors and frauds
For Part B, determine which controls are preventive or detective
a. Prepare a table matching the questions to errors or frauds that could occur because of the absence of the control. b. Which controls are preventive controls and which are detective? Complete this question by entering your answers in the tabs below. Prepare a table matching the questions to errors or frauds that could occur because of the absence of the control. Required: a. Prepare a table matching the questions to errors or frauds that could occur because of the absence of the contro b. Which controls are preventive controls and which are detective? Complete this question by entering your answers in the tabs below
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To address the problem Ill provide a possible matching of the questions to potential errors or fraud based on the context Part A Match Questions to Po...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started