The Most Important Element in Detecting and Catching Employee Fraud

question 37

Multiple Choice

The most important element in detecting and catching employee fraud is:

• A) audit trail
• B) chain of custody.
• C) authorization and approval.
• D) physical security and monitoring.

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Definitions:

Sample Size

The number of observations or replicates included in a statistical sample, significant in determining the precision of an estimate or test.

Unbiased Estimator

A statistical estimator whose expected value is equal to the parameter being estimated, ensuring accuracy across an infinite number of samples.

Population Proportion

It is a measure that gives the fraction of individuals in the population having a particular attribute.

Margin Of Error

An estimate of the amount by which an observed sample statistic may differ from the true population parameter, reflecting the confidence level of the statistic.