This posting addresses fraud exposure areas.
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Please help with the following problem. Provide at least 200 words and include references.
What are the four different exposure areas that must be examined while detecting financial statement fraud? Provide a detailed answer.
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Solution Summary
The solution provides a detailed discussion from my viewpoint as a fraud examiner and based on research that explores the four different exposure areas that must be examined while detecting financial statement fraud. Concepts discussed include management, company relationships, an organization's industry and operating characteristics. The explanation is given in 250 words. References are also provided.
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Problem: What are the four different exposure areas that must be examined while detecting financial statement fraud?
Solution:
1. Management and the Board of Directors
The fraud examiner must examine the backgrounds of management and the members of the board, along with the degree of influence each member has. The fraud examiner must also look for possible motivations from management for fraud. Examples would be bonuses or incentives tied to ...
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