Chapter 8: Internal Control & Cash: OUTLINE Flashcards
1
Q
The intentional act of deceiving an employer for personal gain.
A
Employee fraud
2
Q
Pressure, Rationalization and Opportunity
A
The fraud triangle
3
Q
Provided protection to the public in order to restore public confidence in financial reporting.
A
The Sarbanes-Oxley Act of 2002
4
Q
the policies and procedures used to
- Safeguard assets
- Process business information accurately, and (3) ensure compliance with laws and regulations.
A
Internal Control
5
Q
What do these relate to?
- Hire and training
- Job Rotation (large Company)
- Mandatory Vacation
A
Control Policy related to employees
