The Primary Responsibility for the Prevention and Detection of Fraud

question 1

Multiple Choice

The primary responsibility for the prevention and detection of fraud rests with ________.

• A)external auditors
• B)internal auditors
• C)management
• D)the Audit Committee

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Definitions:

Weighted Average Cost of Capital

A measure of a company's average cost of capital, taking into account the weighted costs of both equity and debt financing.

Financial Models

Financial models are mathematical representations of a company's, project's, or investment's financial performance, used for forecasting future financial outcomes.

Risk Consideration

The process of identifying, assessing, and prioritizing uncertainties in investment decisions or business operations.

Shares Outstanding

The total number of shares of a corporation that are currently owned by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company’s insiders.