Author Question: Which of the following is the best reason for management to emphasize fraud prevention and deterrence? (Read 44 times)

kckanistras · **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.

ladan86 · **Reply #1 on:** Aug 21, 2022

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