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Corporate Fraud and Internal Control Workbook: A Framework for Prevention by Richard E. Cascarino

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Chapter Two

Elements of the Crimes of Theft and Fraud

ANSWERS: FILL IN THE BLANKS

1. precedent or case
2. theft
3. 12
4. handled
5. deprives, exercises the rights
6. electronic funds, misappropriation
7. negotiable
8. erasure, cut and paste
9. chemical detectors, physical characteristics
10. Fourdrinier
11. price fixing, defective products
12. outside vendor, never done
13. raise
14. crowded, mature
15. Bid rigging
16. complementary bidding
17. subcontracting
18. increase profits
19. influencing decisions, activities
20. joint ventures
21. conflict of interest
22. the employer
23. Embezzlement
24. integrity, confidentiality
25. cloud computing
26. encryption, wireless sniffers
27. adequate internal controls
28. Money laundering

SOLUTIONS: SHORT-ANSWER QUESTIONS

1. Data leakage. This may appear to be theft but does not comply with the common law principles of the offense, which is to deprive the rightful owner of the use of his or her asset.
2. In order to be defined as fraud, criteria to be met would include:
  • Misrepresentation, involving perversion or distortion of the truth has been made either in the form of spoken or written words or even in the conduct of the accused—for example, nodding of the head.
  • The misrepresentation has resulted in an actual or potential prejudice ...

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