Fraud

Enron is founded in

• 1985

• 1986

• 1987

• 1999

Enron is initially named as

• Houston Natural Gas Corporation & Kenneth Lay

• Houston Natural Gas Corporation & InterNorth

• Houston Natural Gas Corporation & Interconnect

How much was the loss to be reported which shocked investors

• $628 Million

• $648 Million

• $688 Million

• $638 Million

Concurrent consultancy projects for current audit clients is prohibited under SOX

• The statement is true

• The statement is false as that it is allowed

• Current consultancy projects is not allowed under SOX

• False. Only concurrent tax and audit clients are not allowed under SOX

Fraud

• is intentional

• is intentional and usually done through justified means of obtaining assets

• is unintentional

• is often done by those who are intelligent

Filing of false insurance claims is an example of

• Fraud

• Error

Many fraudsters are first time offenders

• True

• False

Fraud triangle consists of

• Poor credit rating

• Need for cash

• Need for speed

• Pressure

Why do people commit fraud?

• Due to need, feeling of being overwork or injustice

• Need for money to support a lifestyle

• Due to the presence of pressure, opportunity, rationalization

• Greed, opportunity and rationalization

Rita Crundwell embezzled over $53 Million over the course of how many years

• 12 years

• 15 years

• 10 years

• 20 years