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13 Cards in this Set

  • Front
  • Back
Fraud
Gaining an unfair advantage over another person.
1. False statement or representation
2. Material fact to induce person
3. Justifiable reliance; person relies on.
4. Injury or loss suffered by victim
Misappropriation of Assets
theft of company assets
Fraudulent Financial Reporting
Intentional or reckless conduct, that results in materially misleading financial statements to deceive investors, creditors and increase a company's stock price.
SAS No. 99
Requires auditors to:
-Understand fraud
-Discuss the risks of material fraudulent misstatements
-Obtain information
-Identify, assess and respond to risk
-Evaluate the results of audit tests
-Document findings
-Incorporate a technology focus
Fraud Triangle
-Pressure
-Opportunity
-Rationalization (Justification)
Lapping Scheme
Perpetrator steals the cash or checks. Customer A mails in to pay its account receivable and later funds from customer B to pay off customer A's balance.
Kitting
Cash is created using the lag between the time a check is deposited and the time it clears the bank.
Input Fraud
Simplest way to commit a computer fraud is to alter or falsify computer input.
Processor Fraud
Unauthorized system use, including the theft of computer time and service. Ex: employees using company computers to run an illegal gambling web site.
Computer instructions Fraud
Modifying company software, copying software illegally, using software in an unauthorized manner, and developing software to carry out an unauthorized activity.
Data Fraud
Illegally using, copying, browsing, searching, or harming company data.
Output Fraud
Stealing of displayed or printed output. Ex: printing fictitious checks.
Common threats to AIS
-Natural Disasters and Terrorist Threats
-Software Errors and/or Equipment
Malfunction
-Unintentional Acts (Human Error)
-Intentional Acts (Computer Crimes)