forensic accounting 1st edition robert rufus download

#Forensic accounting 1st edition robert rufus download professional

A) They should have a reactive mindset.

Wilson as the man who brought down Capone.ģ) Which of the following statement is true of forensic accountants? In other words, it is the application of financial facts to legal situations.Ģ) Which of the following is recognized as the first forensic accountant?Įxplanation: A) The term forensic accountant was first used by Maurice Peloubet in 1946 in the Journal of Accountancy to recognize and celebrate IRS Special Agent Frank J.

D) It is the use of accounting theories, principles, or analyses in a legal action, often through expert witness testimony.Įxplanation: D) Forensic accounting can be defined as the use of accounting theories, principles, or analyses in a legal action, often through expert witness testimony.

C) It is a discipline that primarily deals with methods of preparation of financial budgets of a company.

B) It is the use of accounting principles to consolidate financial statements of foreign corporations.A) It is a discipline that deals with the preparation and analysis of financial statements of companies.

#Forensic accounting 1st edition robert rufus download professional

The why (need or motive), although important to the overall understanding of fraud, is not the immediate challenge.ĥ) Fraud deterrence strategies include statistical analysis.Įxplanation: Statistical analysis is a fraud detection strategy.Ħ) Fact witnesses can express opinions but expert witnesses cannot.Įxplanation: Expert witnesses differ from fact witnesses in that they can express opinions.ħ) The accounting process has three basic steps: recording, classifying, and summarizing.Įxplanation: The accounting process has three basic steps: recording, classifying, and summarizing.Ĩ) The first line of defense against accounting failures within an organization is the external auditor.Įxplanation: The first line of defense against accounting failures within an organization is the internal auditor.ĩ) Deductive reasoning draws conclusions from patterns.Įxplanation: Inductive reasoning draws conclusions from patterns.ġ0) Expert reports prepared in the course of litigation are exempt from professional report writing standards.Įxplanation: Expert reports prepared in the course of litigation are exempt from professional report writing standards.ġ) Which of the following best describes the term forensic accounting? This reflects a proactive, questioning mindset, where nothing is as it seems and 'trust, but verify' is the general rule.ģ) Fraud detection and fraud examination describes reactive strategies while fraud deterrence describes proactive strategies.Įxplanation: Fraud deterrence differs from fraud detection and fraud examination in that it describes proactive (rather than reactive) strategies.Ĥ) The need or motive of the fraud is not the immediate challenge of a fraud examination.Įxplanation: The primary focus of a fraud examination is to determine the following elements of the fraud: who committed the fraud, how they committed it, when it was committed, how much was taken, and who else was involved. Chapter 1 Introduction to the World of Forensic Accountingġ) Forensic accounting can be defined as the application of financial facts to legal situations.Įxplanation: Forensic accounting can be defined as the application of financial facts to legal situations.Ģ) 'Trust, but verify' is the general rule while exercising professional skepticism.Įxplanation: Forensic accountants must exercise a healthy dose of professional skepticism.