Assignment task:
With focus on the major Fraud types of FSF mentioned: Overstating/Misappropriating Assets, Understating Liabilities and Expenses, Improper disclosure and Improper revenue recognition - Please discuss the following in short answer form [one sentence per candidate per question.]
Who are likely to commit FSF/misappropriating figures on Financial Statements? (With reference to the Albrecht - Fraud exposure rectangle)
What makes it difficult to detect these fraud schemes?
How can organizations reduce these fraud schemes?
From the knowledge and understanding already garnered through the course FSF - Give a difference between the following Job function/roles:
1. Internal Auditor
2. External Auditor
3. Forensic Accountant