Distinguish management’s responsibility from the audit committee’s responsibility for designing and implementing antifraud programs and controls within a company.
Define fraudulent financial reporting and give two examples that illustrate fraudulent financial reporting. 10-2 (OBJECTIVE 10-1) Define misappropriation of assets and give two examples of misappropriation of assets. 10-3 (OBJECTIVE 10-2) Give examples of risk factors for fraudulent financial reporting for each of the three fraud conditions: incentives/pressures, opportunities, and attitudes/ rationalization. 10-4 (OBJECTIVE 10-2) […]