- Discuss a brief background on the financial statement fraud.
- Explain the five classifications of financial statement fraud and which category your chosen fraud might fit into (Fictitious Revenues, Timing Differences, Concealed Liabilities and Expenses, Improper Disclosures, and Improper Asset Valuation).
- Why might senior management overstate or understate business performance?
- How can financial statement fraud be deterred? Discuss at least three internal controls that could be in place to prevent financial statement fraud.
- Discuss the potential impact of the fraud you selected on the various stakeholders of the company.
View the PowerPoint “Forensic Accounting Online Investigative Tools” as a resource for the assignment.
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