ACC 403 help A Guide to career/Snaptutorial ACC 403 help A Guide to career/Snaptutorial | Page 59

9. When determining what type of report to issue on internal
control under Section 404:
10. Internal controls:
11. Two key concepts that underlie management's design and
implementation of internal control are:
12. The employee in charge of authorizing credit to the company's
customers does not fully understand the concept of credit risk. This
lack of knowledge would constitute:
13. A five-step approach can be used to identify deficiencies,
significant deficiencies, and material weaknesses. The first step in this
approach is:
14. Internal controls can never be regarded as completely effective.
Even if company personnel could design an ideal system, its
effectiveness depends on the:
15. Sarbanes-Oxley requires management to issue an internal control
report that includes two specific items. Which of the following is one
of these two requirements?
16. A company is concerned with the theft of cash after the sale has
been recorded. One way in which fraudsters conceal the theft is by a
process called "lapping." Which of the following best describes
lapping?
17. Fraud is more prevalent in smaller businesses and not-for-profit
organizations because it is more difficult for them to maintain:
18. Fictitious revenues:
19. Misappropriation of assets is normally perpetrated by:
20. When assessing the risk for fraud, the auditor must be cognizant
of the fact that:
21. Two of the most useful warning signals that can indicate that
revenue fraud is occurring are:
22. Analytical procedures can be very effective in detecting
inventory fraud. Which of the following analytical procedures would
not be useful in detecting fraud?
23. Most cases of fraudulent reporting involve:
24. Which of the following is a factor that relates to attitudes or
rationalization to commit fraudulent financial reporting?
25. Which of the following parties is responsible for implementing
internal controls to minimize the likelihood of fraud?