Attachments: ACC 556 La Week 6 Short Answer Quiz.docx [ Preview Here ]
Complete the Week 6 Short Answer Quiz.
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Copy and paste the questions onto a Word document. Write a brief response using the information found in Chapter 4 and integrate it with what you have learned in the course this semester.
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· What does it mean to create a “Culture of Honesty, Openness, and Assistance?” Give an example from an organization with which you have been affiliated.
· Codes of Conduct and Conflict of Interest Forms are often called “soft” controls. What does this mean?
· What does it mean to have a good system of internal controls? Give some examples of internal controls.
· Whistleblower policies and procedures? Good or bad idea? Why?
· Symptoms of fraud can be separated into six groups: (1) accounting anomalies, (2) internal control weaknesses, (3) analytical anomalies, (4) extravagant lifestyle,
· (5) unusual behavior, and (6) tips and complaints. Discuss three.
· Discuss the elements of a good fraud report.
· What does “Tone at the Top” mean?
· Discuss the relative oversight responsibility of the audit committee, management, internal audit and independent auditors as it pertains to fraud.
· Summarize the five steps of managing the Business Risk of Fraud.
· Define and explain ERM.
· What is a risk assessment? What are the steps to complete one?
· Give some examples of how technology may be used in fraud prevention.
· Explain FCPA and the U.K. Bribery Act. Why all the fuss?