Acfe report 2 solutions - Study guides, Class notes & Summaries

Fraud Prevention/Detection Questions and Answers with Verified Solutions Internal Auditors detect _____ % of fraud 14 Under the Corporate Sentencing Guidelines, when the offending organization has committed a felony, probation must run for at least one year Internal Auditing Standard 1220 states that internal auditors must apply the care and skill expected of a reasonably prudent and competent internal auditor THREE levels of responsibility for finding and reporting illegal acts: ...

Percentage of annual revenue lost - 5% Categories of fraud based on how common they each are in occurrence - Misappropriation of assets Corruption Financial Statement Fraud Cost Per occurrence - Misappropriation of assets - 120,000 Corruption - 250,000 Financial Statement Fraud 1,000,000 Fraud that is most common and least costly? - Misappropriation of assets Fraud that is least common and most costly? - Financial Statement fraud How occupational frauds are most likely to...