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7 Cards in this Set
- Front
- Back
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Operational risk |
Risk that the organization itself will commit fraud by action or omission |
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internal controls |
The company's system of checks and balances used to prevent loss and ensure accurate financial reporting |
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Quad method |
Using the X & Y axis graph system, classifies fraud into four categories |
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Staggered box system |
Classifies fraud into 25 squares shaded 4 different degrees |
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Financial reporting risk |
Risk that there could be fraud on the financial statement or misconduct by senior management |
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Chessboard method |
Classifies the annual loss expectancy for each type of fraud on to a chart of 64 squares |
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Compliance risk |
Risk of corruption, internal asset misappropriation and external fraud anywhere in the company |
