Payroll fraud, conspiracy with other parties and stealing company assets are..................... Frauds.

Pilfer items of inventory including sales item, office stationery, and computer paper etc are........................

Where a fictitious member of staff is been added to the salary list. This type of fraud is known as. ....................

Teeming and lading is the method of fraud done in the sales ledger or sales department

Fictitious customer’s fraud this is not necessary that the employee must have responsibility for taking goods order as well as the authority to approve a new customer for credit.

Mexter Limited has given sales executive a sales limit of 5000 $ for new client sales promotion. Arif was a sales executive in mexter limited. He take order for 4500 $ from a new client kessler traders which have no previous record with the company. Arif left the job later company found that no such client physically exits. Company mark 4500 as bad expense. What type of fraud is this......................................

Kim is a senior manager in dany ltd. He billed this company for the consultancy charges which was never provided. The bill was for 1200 $ and was in the name of xebox limited which was owned by Kim himself.

What type of fraud this is?

Billas the purchase executive in Halex industries collude with the supplier for the supply of 2000 bags of fertilizer which was actually supplied 1800 and billed for 2000 and later was paid for the same as billed. What type of fraud is this?

Understates the rate of depreciation will have no impact on the profits and book value of the company.

The financial head of Pilado co. Decided to show poor financial result for the company this year. In order to do so, which of the following option he will not choose.

What are the 3 prerequisites for fraud?

State the one incorrect.

.................... Define as an individual tendency to act in a way which is contravening accepted ethical, social, organizational and legal norms for fair and honest dealing.

Karen was senior accountant in Lexberg soft. In love of getting expensive and new model mercedize benz and to be well known in the society the execute a high value cash theft. This is the perfect example of theft of cash fraud due to dishonesty.

Can you tell which factor of dishonesty is this?

Which of the following is not the high fraud risk indicator? A. Lack of integrity

B. Excessive pressures

C. Poor control system

D. Effective system of transaction authorizations.

E. Unusual transaction

F. Lack of audit evidence

The trend of ................... May reduce the degree of supervision exercised in many organization without putting anything in its place.

Is this true that few industries are particular exposed to certain type of fraud in which they exist.

Which of the following is not the internal factor of fraud in an organization?

A. Changed operating environment

B. New personal

C. Rapid growth

D. New technology \

E. New or upgraded M.I.S

F. Effective internal check / control

G. New products

H. Corporate restriction / overseas operations

Delo craft company profit for the years shows significantly high then the rest of the industry standards firm. What will be the possible frauds may be the reason of his margin deviation.

A. Manipulation of the accounting records

B. Collusion with the existing customers

C. Creation of fictitious customer

D. Understated depreciation

E. None of the above

F. All of the above

Sidra energy shows a rapid decline in the company profits which was under performing relative to competitors which of the following is not the case of fraud relate to this case -

Organization with complex group structures including numerous domestic and overseas subsidiaries and branches are not susceptible to fraud -

A sheer size of the group can offer low opportunities to lose transactions or to hide things in intercompany account.

Vast staff numbers contribute to a certain degree of employee anonymity making it easier to conceal fraudulent activities.

As per personal risk states which of the following are the clues that indicate that a person is engaging in fraud?

A. Secretive behavior

B. Expensive life styles

C. Long hours or untaken holidays.

D. Autocratic management style

E. Lack of division of duty and law staff morale

F. All of the above.

If the results of a company are overstated which of the following is incorrect?

If the results of a company are understated which of the following is incorrect?

Prevention of fraud must be an integral part of ..................................... Choose the best possible answer.

Due to downsizing which of the following will affects the company internal control?

Effective control system should have the quality of .............................. Fraud.

Choose the best answer.

A. Avoid

B. Reduce

C. Investigate

D. Detecting

E. Detecting and investigate.

Personal factors such as extensive authority result into weaker / controlled mangers.

Organization factor such as unclear structure of responsibility / lack of supervision of remote location will reduce the risk of fraud.

Strategy factors such as lack of business strategy or great emphasis being placed on reward will results in high risk of fraud.

Appropriate documentation requirement for all transactions will not reduce high risk of fraud.

Fraud officer should talk to staff confidentially and provide advice with the permission of the senior management.

External auditors are not required to report all instance of fraud to the management.

External auditors should also report to management for any material information or weakness in the accounting and internal control system.

In limited companies the prime responsibility for preventing and detecting fraud is on the shoulders of.....................

The responsibility of the external auditors is only to express an opinion upon whether the financial statements give a true and fair view of the company financials situation and results.

A fraud which has been designed to escape detection from auditors is known as.

If in the case of fraud the auditors consider that matter should be reported to an appropriate authority in public interest. They request that the ........................... Should make the report.

Bestcom industries external auditor extracts a massive fraud in the company financial statement. The auditor’s further finds that the key directors and N.E.Ds are also involve in the fraud. What should they do in the public interest?

When fraud occurs what steps should management takes to investigating and dealing with the consequences of frauds that have occurred.

A. Ensuring the security of the record

B. Securing of the assets.

C. Suspending suspected staff

D. Changing computer passwords

E. All of the above

F. None of the above.

Sales made just before year end can be deliberately over-invoiced and credit notes issued with an apology at the start of the New Year. This will enhance turnover and profit during the year just ended. This is called.

............................ Is an unintentional mistake.

Following are some of the fraud done by the employees of the company. Select the one incorrect.

The selling of intellectual property that is plans and information about new upcoming products to competitor are normally done by.........

Which of the following is not a sales ledger fraud?

A fraud in which payment from one debtor is pocketed by fraudster and on the next day he shows the receipt from another debtor payment in the first one. This is the example of.........................

Teaming and leading is normally happened in the sales system. Do you think it can also happen in purchases system?

A strategy for investigating and dealing with the consequences of suspected or identified fraud is called a fraud response plan.

………………………………… should act on signs of dishonesty by senior executive management.

……………………………. Should review the organization performance in fraud prevention and report any suspicious matters to the board.

Remuneration related to performance on the basis of profit is an effective tool to control fraud.

The directors of the company and the senior management are not responsible for preventing and detecting fraud internally and externally.

……………………………. Should review the organization performance in fraud prevention and report any suspicious matters to the board.