Irregularities a Fraud Examiner Should Look for in the Accounts Receivable Area
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What irregularities should a fraud examiner look for within a firm where inventory or fixed assets are present or in the accounts receivable area of a firm?
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Solution Summary
The solution outlines several areas of concern that could raise a red flag to an auditor looking at a first with their inventory or fixed assets present in the accounts receivable area. 201 words.
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There are several irregularities a fraud examiner can look for in each of the specified areas.
When testing the inventory account, the auditor should be looking at external documentation, in the primary form of vendor invoices that are obtained directly from the vendor. The auditor can also obtain a current total of ...
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