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

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Chapter Eight

Fraud Risk Management

ANSWERS: FILL IN THE BLANKS

1. assessment
2. duty of care
3. Inherent risk
4. reducing the likelihood, reducing, impact
5. fraud risk model
6. Process analysis
7. poor judgment, cost of fraud
8. Meaningful risk analysis, control procedures
9. low
10. noncritical participation
11. likelihood, impact
12. reputation, customer confidence
13. open ended, no controls
14. prioritized fraud threats, sources, functional area
15. mitigate, adequate, function as intended
16. too high, work as intended, additional
17. mitigating, most
18. adequate, effective, eliminated
19. vertical, horizontal, fraud risk
20. management, prevent, detect
21. intent of the rules
22. reputational
23. independent external auditor, annual fiduciary
24. not necessarily the same
25. low
26. less
27. increased
28. perpetrate, conceal
29. internal control structures
30. actively seeking, bankruptcy fraud
31. forensic accountants
32. background checks, local laws, electronic audit trail
33. legal, forensically acceptable
34. computers, significant
35. reduce
36. genuine concerns, procedure
37. like, Low-level retaliation
38. externalize
39. indemnify, proven, good faith
40. severely
41. confidential government, whistleblower

SOLUTIONS: SHORT-ANSWER QUESTIONS

1. The three types ...

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