《What′s Your Fraud IQ》由会员分享，可在线阅读，更多相关《What′s Your Fraud IQ（5页珍藏版）》请在金锄头文库上搜索。
1、_FRAUD Whats Your Fraud IQ? BY ANDI MCNEAL, CPA, CFE SEPTEMBER 2009 Placing a sizable amount of trust in staff members is part of the cost of doing business. Trusting workers with access to information, products, vendors and funds is necessary to run an effective and efficient operation. But some em
2、ployeeswhen faced with sufficient pressure, a perceived opportunity, and the ability to rationalize a criminal actwill take advantage of that trust and defraud their employers.How well do you know the signs and symptoms of employee embezzlement? Do you know what to do when you suspect an employee is
3、 stealing? Take this quiz to gauge your knowledge of the red flags and investigative methods for internal fraud.1. Which of the following fraud schemes generally does not leave an audit trail and, consequently, is among the hardest to detect?a. Sales skimmingb. False billingc. Check tamperingd. Inve
4、ntory theft2. The employee hotline for Aspiring Inc. received an anonymous call alleging that several employees are receiving kickbacks from a local vendor. Management has decided to launch a formal investigation into the allegations. Who should be primarily responsible for directing the fraud exami
5、nation?a. The head of the companys security departmentb. The partner of the companys external audit firmc. The companys legal counseld. The companys human resources manager3. Charlotte Grey, CPA, is conducting the annual audit of XYZ Corp.s financial statements. While performing the yearend inventor
6、y procedures, she notices that several inventory items are regularly purchased at prices above the industry standard. These same items are also frequently purchased well before the typical reorder point and are, therefore, consistently overstocked. She notes that XYZ has recently changed vendors for
7、 these items, and she cant locate the new vendor on the companys approved vendor list. Which of the following fraud schemes might these findings indicate is occurring?a. Inventory theftb. Asset overvaluationc. Briberyd. Lapping4. Thoroughly examining canceled checks that are returned with the bank s
8、tatement and reviewing vendor complaints regarding nonpayment are both proactive tests that can help detect:a. Shell company schemesb. Forged endorsement schemesc. Skimming schemesd. Fictitious refund schemes5. Lincoln Bartuska is investigating some suspicious activity at ZX & Co., a regional office
9、 supply store. As part of his investigation, Bartuska compared inventory adjustments to refund transactions by employees. He also looked for any sales transactions where the sale was posted to one credit card and a refund was posted to another credit card. What type of scheme is Bartuska most likely
10、 looking for?a. Cash larcenyb. Inventory theftc. Credit card skimmingd. Fictitious refunds6. Which of the following may be a sign that an organization is being victimized by a falsified hours scheme?a. Several employees appear on the personnel employee roster but are not on the most recent payroll c
11、heck list.b. The payroll expenses for the company unexpectedly exceed budgeted projections and prior years totals.c. One employee consistently submits more requests for expense reimbursements than all other employees within the department.d. The FICA tax withheld on several employees paychecks does
12、not equal 7.65% of the employees gross pay.7. When returning a stapler he borrowed from a co-worker, Johannes Kiebler noticed a notebook on the coworkers desk that contained what appeared to be a second set of accounts receivable records. Kiebler managed to quickly read among the scribbles: “Sept. 2
13、, Customer Q, $3,200,” “Sept. 3, Customer R, $2,900,” and “Sept. 5, Customer S, $2,650need $2,400.” What type of scheme did Kiebler most likely catch the co-worker perpetrating?a. Lappingb. Kitingc. Altered payeed. Falsified billing8. An unexplained increase in bad debt expense can be a red flag tha
14、t an employee is stealing inventory from the company warehouse.a. Trueb. False9. Which of the following might be a warning sign of a shell company scheme?a. A vendor that is not listed in the phone bookb. An unexpected and significant increase in “consulting expenses”c. Invoices lacking details of t
15、he items purchasedd. All of the above10. Gerri Alderman is an internal auditor for Steen Corp. She ran a report that listed payments to employees for business expenses that occurred while the employee was on vacation. What type of fraud scheme is Alderman most likely to find?a. Petty cash larcenyb. Concealed expensesc. Mischaracterized expense reimbursementd. Falsified salaryANSWERS1. (a) Skimming is the theft of an organi
