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10 Cards in this Set
- Front
- Back
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Two of the three elements of Dr. Donald Cressey’s Fraud Triangle are Opportunity and Rationalization. What is the third element?
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Motive |
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Overstating revenues and understating liabilities and expenses typifies which of the following fraud schemes?
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Fraudulent statements |
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The word artifice means: |
Trickery |
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The Department of Justice has defined “corporate fraud” to include which of the following? |
Obstruction of justice, Self-dealing by corporate insiders, Falsification of financial information or All of the above (this is the correct answer) |
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Which of the following statement best explains Dr. W. Steve Albrecht’s Fraud Scale? |
Status pressure from family and friends, Living beyond one’s means, Poor perception of one’s workplace or All of the above (this is the correct answer) |
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A __________ framework of internal controls and corporate governance is standard for many organizations in the United States. |
COSO |
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The requirement to reimburse a company for any bonuses or other compensation received during the 12-month period following the restatement of financials as a result of misconduct is called: |
disgorgement |
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The Sarbanes-Oxley Act is also called what? |
Public Company Accounting Reform and Investor Protection Act of 2002 |
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A robust fraud prevention program must incorporate the _________ steps as detailed in the Amended Federal Sentencing Guidelines for Organizational Crime. |
Seven |
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A system of checks and balances between management and all other interested parties with the aim of producing an effective, efficient, and law-abiding corporation is known as: |
corporate governance |
