Forensic Methods and Techniques Module A (FOR2601)
Exam (elaborations)
FOR2601 Assignment 1 Semester 2 2024 | Due 10 August 2024
21 views 0 purchase
Course
Forensic Methods and Techniques Module A (FOR2601)
Institution
University Of South Africa (Unisa)
Book
Forensic Science Education and Training
FOR2601 Assignment 1 Semester 2 2024 | Due 10 August 2024. All questions answered with references.
QUESTION 1
1.1 Discuss in your own words the detection techniques that can be used by auditors to
detect fraud in an organisation. (10)
1.2 Discuss the basic considerations or tactical steps you...
Forensic Methods and Techniques Module A (FOR2601)
All documents for this subject (10)
Seller
Follow
Aimark94
Reviews received
Content preview
, PLEASE USE THIS DOCUMENT AS A GUIDE TO ANSWER YOUR ASSIGNMENT
Please note that the author of this document will not responsibility for any plagiarizing you
commit.
Question 1
1.1. Discuss in your own words the detection techniques that can be used by auditors to detect
fraud in an organisation.
Detecting fraud within an organization requires a multifaceted approach, leveraging various
techniques and tools to identify and investigate potential fraudulent activities. Here are some key
detection techniques used by auditors:
Recognizing Red Flags
Auditors must be vigilant in identifying red flags, which are indicators of potential fraud. Red flags
can be behavioral, transactional, system-related, or corporate. For example, unusual system activity,
reluctance of managers to explain budgetary decisions, and suspicious invoice payments to tax
havens can all signal potential fraud.
Anonymous Reporting Mechanisms
Establishing hotlines and other anonymous reporting systems allows employees and other
stakeholders to report suspicious activities without fear of retaliation. These whistle-blower
mechanisms are crucial in uncovering fraud that might not be evident through standard auditing
procedures.
Suspicious Activity Reporting
Organizations often implement specific reporting mechanisms for suspicious activities. These reports
can trigger more detailed investigations by auditors and help in early detection of fraudulent
activities.
Process Controls
Effective process controls are designed to detect and prevent fraudulent activities. These controls
include:
Reconciliations: Regular comparison of different sets of data to identify discrepancies.
Independent Reviews: Third-party evaluations of processes and transactions to ensure
accuracy and integrity.
Physical Inspections and Counts: Verification of physical assets and inventory to prevent
misappropriation.
Analyses and Audits: Detailed examination of financial statements and transactions to
uncover inconsistencies.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Aimark94. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.86. You're not tied to anything after your purchase.
