Risky Business
An issue that could impair the ability of the organization to achieve its objectives
What is Risk?
Any intentional or deliberate act to deprive another of property or money by guile, deception, other unfair means.
What is Fraud?
This is when you should be prepared for an audit
What is always?
The number associated with your ATM card that you should keep confidential and in a safe place.
What is a PIN number?
ICQ
What is Internal Control Questionnaire?
These should be provided when cash is received
What are receipts?
Opportunity, rationalization and pressure make up the ____________?
What is the fraud triangle?
These controls provide evidence that a loss has occurred - after the fact
What are Detective controls?
These should never be shared
What are passwords?
CIA
Certified Internal Auditor
A record of all the transactions a firm has carried out over a specific period showing the activity from beginning to end
What is an audit trail?
"I'm underpaid" is an example of this element of the fraud triangle.
What is rationalization?
A type of control that attempts to deter or stop undesirable events from occurring
What are Preventive Controls?
Fake emails that impersonate a known business and urgently request you verify your credentials
What is phishing?
CFE
Certified Fraud Examiner
Steps taken to obtain reasonable assurance that objectives are achieved
What are Internal controls?
Never taking a vacation and having an expensive lifestyle are examples of these.
What are red flags?
According to this control, no single individual should have authority over two or more phases of a transaction
What is Segregation of Duties?
When a password is changed, users receive this
What is an email notification?
OAAS
What is Office of Audit and Advisory Services?
Determines areas of potential risks before an audit occurs
What is a risk assessment?
Financial need is an example of this element of the fraud triangle.
What is pressure/motive?
Trust but ___________
What is verify?
Think before you ___________
What is click?
CSA
What is the California State Auditor?