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Author Question: Which of the following is the best reason for management to emphasize fraud prevention and deterrence? (Read 65 times)

kckanistras

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on: Aug 21, 2022

Question 1

Which of the following is not one of the elements to prevent, deter, and detect fraud according to the AICPA?
◦ performing analytical procedures
◦ culture of honesty and high ethics
◦ management's responsibility to evaluate risks of fraud
◦ audit committee oversight

Question 2

Which of the following is the best reason for management to emphasize fraud prevention and deterrence?
◦ It is often more effective and economical for companies to focus on fraud prevention and deterrence rather than on fraud detection.
◦ Collusion is impossible to detect.
◦ The AICPA requires management to implement a fraud prevention program.
◦ All of these are equally valid reasons.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by kckanistras on Aug 21, 2022

ladan86

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Reply #1 on: Aug 21, 2022
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kckanistras

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Reply 2 on: Aug 21, 2022
Great answer, keep it coming :)

cici

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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