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forensic final

  1. Which of the following depicts the correct progression of a case through the federal court system?
    • 1. US district court
    • 2. Circuit court of appeals
    • 3. Supreme court
  2. fidelity bonds
    • b. name Schedule Fidelity Bond.
    • c. blanket Position Bond.
    • d. primary Commercial Blanket Bond.
  3. true of both civil and criminal law
    Plaintiffs and defendants may call expert witnesses.
  4. The discovery stage of a civil case includes:
    depositions and subpoenas
  5. an interragatory is
    a series of written questions that specifically identify information needed from the opposing party.
  6. the 5th amendment of the constitution
    Precludes a person from being tried twice for the same crime
  7. at the arraignment
    charges against the defendant are read
  8. likely financial repoprting fraud symptoms
    • grey directors
    • size of the firm
    • family relationships between directors or officers
  9. most financial statement frauds occur in smaller organizations with simple management structures because
    fraud is more difficult to commit when there is a more formal organizational structure
  10. backdating stock options
    the improper issuance of stock options to corporate executives
  11. management fraud is usually committed on behalf of the organization rather than against it.  types of management fraud motivators...
    • -a highly competitive industry
    • -pressure to meet expected earnings
    • -restructure debt covenants that cant be met
  12. during an audit, an auditor considers the conditions of the auditee and plans the audit accordingly.  This is an example of..
    first order reasoning
  13. most likely to be the perpetrator of fraud
    CEO, executives, and managers
  14. the most common account manipulated when perpetrating financial statement fraud
    revenues
  15. why might a company want to understate net income?
    to increase profits
  16. reported revenue and sales account balances that appear too high are examples of
    analytical symptoms
  17. horizontal analysis
    examines changes in account balances from period to period
  18. comparing recorded amounts in the financials with the real world assets they are supposed to represent would be most effective in detecting
    revenue related frauds
  19. lifestyle symptoms are most effective with
    inventory related financial stmnt frauds
  20. when looking for inventory related fraud, these are important questions
    • -what is the nature of the inventory?
    • - what is the age of inventory?
    • -what is the salability of inventory
  21. analytical symptoms
    • last minute revenue adjustments
    • umsupported balance sheet amounts
    • improperly recorded revenues
  22. vertical analysis
    years where the percentage changes a lot signals possible fraud and needs further testing
Author
jna909
ID
313944
Card Set
forensic final
Description
forensic final
Updated

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