Complete the Week 6 Short Answer Quiz.
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Microsoft® Word Document.
Copy and paste the questions onto a Word document. Write a brief
response using the information found in Chapter 4 and integrate it
with what you have learned in the course this semester.
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What does it mean to create a ―Culture of Honesty, Openness,
and Assistance?‖ Give an example from an organization with which
you have been affiliated.
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Codes of Conduct and Conflict of Interest Forms are often
called ―soft‖ controls. What does this mean?
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What does it mean to have a good system of internal controls?
Give some examples of internal controls.
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Whistleblower policies and procedures? Good or bad idea?
Why?
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Symptoms of fraud can be separated into six groups: (1)
accounting anomalies, (2) internal control weaknesses, (3) analytical
anomalies, (4) extravagant lifestyle,
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(5) unusual behavior, and (6) tips and complaints. Discuss
three.
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Discuss the elements of a good fraud report.
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What does ―Tone at the Top‖ mean?
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Discuss the relative oversight responsibility of the audit
committee, management, internal audit and independent auditors as it
pertains to fraud.
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Summarize the five steps of managing the Business Risk of
Fraud.
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Define and explain ERM.
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What is a risk assessment? What are the steps to complete one?
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Give some examples of how technology may be used in fraud
prevention.
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Explain FCPA and the U.K. Bribery Act. Why all the fuss?