A Good Fraud Auditing Involves Four Steps

question 26

Multiple Choice

A good fraud auditing involves four steps. Which of the following is the correct sequence?

• A) Identifying fraud risk exposures; building audit programs to proactively look for symptoms and exposures; investigating fraud symptoms identified; and identifying the fraud symptoms of each exposure.
• B) Identifying fraud risk exposures; identifying the fraud symptoms of each exposure; building audit programs to proactively look for symptoms and exposures; and investigating fraud symptoms identified.
• C) Building audit programs that proactively check for symptoms and exposures; identifying fraud risk exposures; identifying the fraud symptoms of each exposure; and investigating fraud symptoms identified.
• D) Identifying the fraud symptoms of each exposure; identifying fraud risk exposures; investigating fraud symptoms identified; and building audit programs to proactively look for symptoms and exposures.

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Definitions:

Scheduling Activities

The process of organizing events, tasks, or operations in time, often requiring prioritization and time management.

Pull Quotes

A significant or intriguing quote from an article or text, displayed prominently within the layout.

Pictorial Representations

Visual depictions or drawings used to illustrate concepts, ideas, or data in a way that is easily understandable.

Histograms

Histograms are a type of graph used in statistics to visually display the distribution of numerical data through rectangular bars of varying heights.