Tools Used for Examining Frauds - Term Paper Example

Comments (0) Cite this document
Summary
The aim of the paper “Tools Used for Examining Frauds” is to analyze computer-assisted audit techniques (CAATs) or computer-assisted audit tools and techniques (CAATTs), which are used widely in examining frauds related to auditing. In CAATs, computer-aided procedures are used in the audit process…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.4% of users find it useful
Tools Used for Examining Frauds
Read TextPreview

Extract of sample
"Tools Used for Examining Frauds"

Download file to see previous pages They grab the attention of the clients by promising them quick money (Coderre, 2009). Detection of financial frauds required experienced forensic accountants. They are basically accountants, auditors, and investigators of financial and legal documents who are hired by the company to look into possible financial frauds taking place.
There are different varieties of financial frauds. The range can spread from a simple theft to more complicated frauds and identity thefts. Some of the common types of financial frauds are; check fraud, banking/identity fraud directs theft, invoices and payments fraud. Four basic frauds that occur in a business are; Embezzlement, internal theft, payoffs and kickbacks and skimming (Imoniana, Antunes & Formigoni, 2013).
Embezzlement which is also known as larceny occurs when the personnel who are appointed to control the funds, use them illegally for their personal gain (Petrucelli, 2013). Internal theft takes place when company assets such as company products or supplies are stolen by the employees. This causes inventories to shrink down. Pay-offs and kickbacks are kinds of bribery which are often reported by the companies. These occur when employees take money from the receipt and that transaction is not recorded. Other important frauds are Money laundering, Mortgage fraud, Racketeering/ RICO, Securities fraud, payroll-fraud, manipulation of sales figures, tax evasion, use of fictitious invoicing, stealing money from company accounts, duplicate billing, accounts receivable fraud, financial statement fraud, etc. Money Laundering is the process of movement of illicit money and other profits through legitimate channels with the purpose of disguising the illegal source of the money to prevent from tax officials (Wells, 2010).  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Tools Used for Examining Frauds Term Paper Example | Topics and Well Written Essays - 2000 words”, n.d.)
Tools Used for Examining Frauds Term Paper Example | Topics and Well Written Essays - 2000 words. Retrieved from https://studentshare.org/finance-accounting/1695013-detecting-fraud
(Tools Used for Examining Frauds Term Paper Example | Topics and Well Written Essays - 2000 Words)
Tools Used for Examining Frauds Term Paper Example | Topics and Well Written Essays - 2000 Words. https://studentshare.org/finance-accounting/1695013-detecting-fraud.
“Tools Used for Examining Frauds Term Paper Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.org/finance-accounting/1695013-detecting-fraud.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Prevention of Financial Frauds
...and employees of the organization who are responsible for handling and managing of important and sensitive documents to keep these documents in safe and do not let anyone to have access to such documents as one of the ways through which financial frauds can occur is to have access to such sensitive information. A layered security approach and effective tools are required to handle this dramatic emergency of felonious financial frauds and by controlling who first receives sensitive documents like bank statements, small organizations can prevent financial fraud occurrence (CBIA News, 2007). Financial information of a corporation is used by investors in...
8 Pages(2000 words)Research Paper
Screening and Assessment Tools Used In Addiction
.... A tool is considered to have content validity if it has the capability of measuring all aspects of the specified condition. An effective tool should demonstrate construct strength. Construct validity is the ability of an instrument to measure accurate characteristics in a specified condition. The measurement of the construct validity of a tool is examined in different varying methods. Statistical method entails the use of factor analysis to examine whether the instrument have the capability of measuring a theoretically thought domains (Grisso, & Barnum, 2006). Factor analysis is a statistical procedure which is used to...
10 Pages(2500 words)Research Paper
Economic Change Effect Frauds
...in about all segments are serious expenditures in toting up to dishonest off workers. Addition price have been dipping (North 2002). Self-worth is descending. Anxiety is stirring. The grouping of these conditions might generate a climate grown for misleading action. Even though both judgment and knowledge inform us so as to the risk of fraud could be keen in the current economy, it is almost unfeasible to measure the factual quantity of fraud happening at several known time. The enormous preponderance of fraudsters gets action to hide their crimes. Consequently, several frauds might not at all be trapped. Other strategies might be committed for years previous to they...
16 Pages(4000 words)Research Paper
Credit card frauds
...History of Credit Card Frauds Literature Review History of Credit Card The use of credit cards in the consumer sector had its inception in the region of United States. Gomez (2008) observes in this regard that a rich businessman of United States Frank X. McNamara helped to enhance the concept of credit in regards to making purchases of consumer products and other utilities. McNamara worked to bring about the Diners Club cards which helped many people to avail meals on credit (Gomez, 2008, p.461). Definition and Type of Credit Cards Credit cards emerge as a better substitution for cash through which the consumers can go for purchasing different categories of commodities. Sander (2003) observes in this respect that credit card... to the...
15 Pages(3750 words)Literature review
Prevention of Financial Frauds
... largely involves people of all ages as well. From frauds planned on a large-scale and committed to weaken the roots of national economy to small-scale financial frauds like fake lotteries and work at home plots, this criminal issue has largely succeeded in building many holes in the net of financial security which was once strong and meant to preserve the public protective. 2. Research review: A layered security approach and effective tools are required to handle this dramatic emergency of felonious financial frauds and by controlling who first receives sensitive documents like bank statements, small organizations can prevent financial fraud occurrence (CBIA News, 2007). Expert policy-makers and researchers at (Research Centre... ...
3 Pages(750 words)Research Proposal
Closely Examining the Language and Tones Used in Poems
...English Literature Introduction After reading, analyzing, and summarizing several poems like "Do not go gentle into that good night" by Dylan Thomas, “Poem at thirty-nine" by Alice Walker, "Remember" by Christina Georgina Rossetti, "To his Coy Mistress" by Andrew Marvell, "Holy Sonnet 72" by John Donne, and "Another view of Thanatos" by Verrnon Scannell, this essay will focus on discussing about the themes of each poem followed by closely examining the language and tones used in each poems. After examining the language and tones in each poem, this essay will discuss about its corresponding structure and shape. As part of going through the discussion, the similarity and differences of...
8 Pages(2000 words)Coursework
Critique of test and tools used in the attached article
...of children. This paper seeks to offer a critique of the tests and tools that were used to conduct the research study. The relationships between these individuals were examined using longitudinal multi methods and multi-informant data collection methods. These modes of inquiry take into account the dynamic nature of people’s lives by taking a critical and dynamic thinking approaches. These methods blend insights from social sciences and merge qualitative and quantitative methodologies. They combine micro and macro views of society that are garnered from comparing temporal data that is generated over time. These enable researchers to make objective judgments of...
3 Pages(750 words)Essay
Prevention of Financial Frauds
...and information about the areas which have the greatest fraud risk. (Adams, et al., 2006). The main focus of auditing has shifted from detecting financial frauds manually to technology based prevention of financial frauds. Even though there are some frauds that cannot be prevented however with the use of different auditing software, auditors can get considerable amount of assistance in identifying areas where fraud can occur. Several auditing software have the ability to include internal checks with which managers as well as auditors are able to identify and detect irregular relationship that assist in prevention of financial...
1 Pages(250 words)Assignment
Important Tools Used for the Effective Counseling Process
... The Five Cs According to Ungar (2011), five Cs are attributes of human beings that assist in enforcing positive development especially among adolescents. Despite being six, Learner refers to the attributes as five Cs. These aspects of positive development include competence, character, confidence, caring, connection and contribution. The five Cs are very important tools used for effective and efficient counseling process. As described by Ungar, competence refers to feeling that one’s efforts and inputs are important and valued. Confidence refers to the belief that individuals have on their abilities to effect the desired change. Character to one end refers to congruence of one’s actions with values and...
1 Pages(250 words)Assignment
Technology-Based Bank Frauds
...Bank Frauds-Keylogger Scam Description of the Computer Crime The computer crime that was thwarted by the British Hi-Tech Crime Unit an attempt to rob a bank in London off US$ 420 million is most appropriately classified under phishing. Phishing is defined as a deliberate attempt to acquire private information such as passwords, security codes and other sensitive information by falsely appearing as a legitimate entity in an electronic communication. The cyber-crime technique is normally performed by the use of phishing emails where unsuspecting computer users are directed to key in their details to a fake website that masquerades as a legitimate website Dhamija (2005). When a user enters...
3 Pages(750 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Term Paper on topic Tools Used for Examining Frauds for FREE!
Contact Us