DISCUSSION ESSAY
REVIEW QUESTIONS
- Why might senior management overstate or understate business performance?
- What are some of the ways in which financial statement fraud is committed?
- What are the five classifications of financial statement fraud?
REVIEW QUESTION
- Generally, how is the problem of management override and collusion addressed?
- What is the role of the external auditor in the financial reporting process?
- How is materiality determined?
REVIEW QUESTIONS
- What are the five major categories of fraudulent disbursements?
- How do pay-and-return schemes work?
- What are the five principal categories of check tampering?
- What are the differences between forged maker and forged endorsement schemes?