Advertising that you employ such tools/mechanisms to mitigate fraud.
What is Fraud Deterrence
100
The three elements of the fraud triangle
What is Opportunities, Rationalization, Inceptives/ Pressures.
100
What does PCAOB stand for
What is Public Company Accounting Oversight Board
100
WWCD when their financial statements are in red ink
What is Change their printer cartridge
200
When a financial statement line item can differ from its true amount without impacting their fair representation of the entire financial statements.
What is Misstatements
200
______ exists because financial stability or profitability is threatened by economic, industry or entity operating conditions.
What is Incentives.
200
To express an opinion on consolidated financial statements based on their duty.
What is Auditor Responsibility
200
WWCD when their accountant needs to draw the line on unethical behavior
What is Have them draw it with an Etch-a-Sketch and shake it a little!
300
Auditor opinion of financial statements when they are in accordance with applicable financial reporting framework PLUS an Emphasis of Matter Paragraph.
What is Unmodified Opinion
300
Excessive ____ exists for management to meet the requirements or expectations of third parties due to the following.
What is Pressure
300
Three phases in the audit report that are critical to understanding the limits of the report:
What are Reasonable assurance, Material and Present Fairly
300
WWCD it can be explained to them but it cant be understood for them.
What is Accounting
400
Fraudulent financial reporting generally occurs in one of three ways:
What is Manipulation, Misrepresentation, and Intentional Misapplication (of accounting principles).
400
"Known history of vilations of securities laws or other laws and regulations, or claims against the entity its senior management, or board member alleging fraud or violations of laws and regulations" is an example of ____.
What is Rationalization.
400
This plays an important role in gathering audit evidence and evaluating its usefulness.
What is Professional Skepticism
400
Would ol' _____ be satisfied if accounts did not balance?
Who is Pacioli
500
This act places additional requirements upon public companies registered with the SEC and their auditors that was established in 1995.
What is The Private Securities Litigation Reform Act of 1995
500
CEO of company took interest-free loans from the company without disclosing on financial statements. SEC sued former CEO in 2002.
What is Tyco Fraud
500
The four auditing standards are:
What are the GAGAS (Generally Accepted Government auditing standards). GAAS (Generally accepted auditing standards). SAS (Statements on Auditing Standards). SSAE Statements on Standards for Attestation Engagements.
500
____ repeatedly says "This exam is going to be easy!" ... but they just get harder.