Reference no: EM133603886

Question: An overview of the fraud risk assessment process includes the following components: Propose the scope of the audit, execute the scope, report the findings to the board, and reply to management concerns. Money, Ideology, Coercion, and/or Ego/Entitlement (MICE). Act, concealment, and conversion. Evaluate the fraud risk factors, identify possible fraud schemes and scenarios, prioritize individual fraud risks, evaluate mitigating controls. 10 points QUESTION 2 When the text refers to a "process owner," it is referring to an individual who has: Subject matter expertise in the processes that should be used within the industry. Significant influence or sway in the processes used by the organization to accomplish its goals, but little ability to alter those processes despite "owning" them. The responsibility for conducting a particular aspect of a targeted fraud risk assessment. Day-to-day authority and ability to alter standard operating procedures to accomplish the goals and objectives of the organization.