Week 9 Discussion Question.
Management’s disregard for internal controls has created renewed concern among internal auditors and audit committees that cases of occupational fraud are rising. Without a monitored internal control system, inherent risks of fraud increase when a company has not developed a fraud detection risk plan.
Research fraud detection risk plans using the ACFE 2018 Report to the Nations (https://www.acfe.com/uploadedFiles/ACFE_Website/Content/rttn/2018/RTTN-Government-Edition.pdf).
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Order Paper Now- Describe detection risk as it applies to the misguided use of internal controls by management to cover up their fraudulent acts.
- Identify the steps taken to determine how one would ascertain the company’s detection risks or devise a method that differs from what you researched that meets the standards set forth by the ACFE2018 Report to the Nations.
- Apply these steps to a company of your choice and discuss how these steps mitigate the risk of fraudulent financial management activity.
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