Prepare fraud risk factor for company - fraud risk asessment, Operation Management

A formal fraud risk assessment ("FRA") is an important element of an entity's' antifraud programs and controls. Companies must specifically consider their controls to prevent and detect fraud as part of SOX. Likewise, auditors must evaluate a client's antifraud programs and controls as part of their opinion as well as consider what fraud risk factors might directly impact the audit. The FRA is a tool to help evaluate the risk of fraud as well as serving of documentation of that process. Companies and auditors often use those persons with specialist training in fraud as subject matter experts. That role typically involves helping companies understand their real risk of fraud, and the audit team in understanding and evaluating potential fraud risk factors as well as assessing the client's exposure to fraud. In this exercise, you will prepare a formal fraud risk assessment (although abbreviated) for each of the companies listed. ? DynCorp International ? Alliance Data Systems

  • AMR Corporation
  • Baker Hughes
  • Any Company you have worked for or are personally familiar with

 

You are to prepare 10 fraud risk factors for each company based on whatever information you can find out from their public filings, news stories, or other information (including personal knowledge). For each fraud risk factor you identify, you will complete the steps listed below. You should also pick from different areas including In general, I am interested in you capturing a description of your assessment in each of these categories:

  • Fraud Risk Factors
  • Fraud Risk
  • Fraud Scenarios
  • Likelihood
  • Significance
  • Specific Accounts Impacted (or alternatively "Pervasive")
  • Individuals (by title) or departments who could commit the fraud
  • Describe a control which likely deals with this risk

As most of you do not work for these organizations, so you will likely have to speculate or generalize on some of these items. This is fine. I am more interested in your use of these tools and understanding the inputs than I am with document a particular company's assessment.

Posted Date: 4/2/2013 3:18:32 AM | Location : United States







Related Discussions:- Prepare fraud risk factor for company - fraud risk asessment, Assignment Help, Ask Question on Prepare fraud risk factor for company - fraud risk asessment, Get Answer, Expert's Help, Prepare fraud risk factor for company - fraud risk asessment Discussions

Write discussion on Prepare fraud risk factor for company - fraud risk asessment
Your posts are moderated
Related Questions
manufacturing operation definition and objective

A few years ago, several U.S. retailers were sued in Los Angeles courts for human rights abuses associates with contract manufactures located in the Marianas Islands, a territory o

What are the major priorities associated with operations strategy? How has their relationship to each other changed over the years?

Your management team has been retained by a senior manager who is concerned about the effectiveness of his managers and their leadership abilities. He would like you to develop a t

The owner of Firewood-2-Go is considering buying a hydraulic wood splitter which sells for $60000. He figures it will cost an additional $80 per cord to purchase and split wood wit

Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given 10 marks in the matrix below. Determine the optimal assignment. Which operator will have no a

Explain inventory control. Inventory Control - its importance and scope: Inventory control is the scientific way of finding out how much stock  be maintained so as to meet the

Why are standards important in many industries? As standards get adapted and become dominant, how does this process influence the competitive nature of the industry? When Walmar

What are Apples Inc.? Legal and compliance policies and practices. Elaborate and comprehensive on your response

ACME University is hiring a new basketball coach for its men's basketball team. Carla Coach applies for the position. An official of the University contacts Carla and tells her tha