Question Description
I’m working on a Accounting question and need guidance to help me study.
Frauds are notoriously difficult to detect in a timely fashion.
How do you think management and internal audit can improve the timeliness and effectiveness of fraud detection? What can be done better to improve deterrence? Are there specific practices in your organization that you think work particularly well (or poorly)? Why (or why not)?
Explanation & Answer
Attached. Please let me know if you have any questions or need revisions.
How do you think management and internal audit can improve the timeliness and effectiveness of fraud detection?
What can be done better to improve deterrence? Are there specific practices in your organization that you think
work particularly well (or poorly)? Why (or why not)?
Over the years, accountants, auditors and quality control departments have devised methods that can minimize
fr...