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

Systems Approach to Process Planning and Design Knowledge about operations strategies, product / service designs, technologies of the production system, and markets are used t

Types of Process Designs The basic type of production system and the finished goods inventory policy to be used must be decided at the earliest stages of process planning. The

Explain Morale. Morale: It is a measure of extent which level as either high or low of voluntary cooperation illustrated by a individual or a work group and of the intensity

If a wireless signal collides with an object whose dimensions are much larger than the signal's wavelength, what is the signal most likely to do? a. reflect b. refract c.

Pick a product that you believe would be beneficial for line extension. Justify your choice and discuss the strategy you would adopt for the new product

Describe how to negotiate for more compensation. Explain why one must be assertive to earn what he or she deserves. Relate four things not to do when asking for a raise. How much c

We have discussed many positive things about iPads, iPhones, tablets and Smart Phones, what are some negative things you have experienced with the device you use?

Explain Interface of Financial Policy and Strategic Management?

Discuss the concept of combination layout