Chaptr 7PPT.pptVIP

Question 8-14 (textbook) Internal Control and Cash Accounting, Third Edition 蒲迢占沼尝沃堪懦流光翰帖期广墙薄毋宣件飞迁披寿称湖狸殴兔乡娇捕株Chapter 7PPTChapter 7PPT Fraud and Internal Control Cash Controls Use of a Bank Reporting Cash Managing and Monitoring Cash Fraud, Internal Control, and Cash Fraud The Sarbanes-Oxley Act Internal control Principles of internal control activities Limitations Cash receipts controls Cash disbursements controls Bank statements Reconciling the bank account Cash equivalents Restricted cash Basic principles 卒相截铀晚幢淑畸蓬仑庸滦炙墩审灸寸昨衅策雏插吨胎履戏蚊愉患挑览旭Chapter 7PPTChapter 7PPT Which of the following is not one of the main factors that contribute to fraudulent activity? a. Opportunity. b. Incompatible duties. c. Financial pressure. d. Rationalization. 铃馋蚊董坞螟稿狡瞳澈超辱液裳税圭冻皇撵哗皋慢饮恼站毒褂慰醇参娃沦Chapter 7PPTChapter 7PPT Fraud Fraud is a dishonest act by employee that results in personal benefit to the employee at a cost to the employer Three main factors contribute to fraudulent activity. They are: (1) opportunity, which are usually due to a lack of sufficient controls; (2) financial pressure, which usually is related to too much personal debt or a desire for a better lifestyle; and (3) rationalization, which is justification for why the employee deserves the compensation from fraudulent acts. 沛息瘤峪小采邵郁围泼傍内利嫉晚菊夫连废触炼梅美讼堪锑敞勤拱俏沁贰Chapter 7PPTChapter 7PPT Fraud Sarbanes-Oxley Act of 2002 (SOX) requires all publicly traded U.S. corporations to maintain an adequate system of internal controls. SOX imposes more responsibilities on corporate executives and boards of directors to ensure that companies’ internal controls are reliable and effective. Companies must develop sound principles of control over financial reporting and continually assess that the controls are working. Independent outside auditors must attest to the level of internal controls. 市归烽袒忠贞梁胆豁凶赤芦活英榆妈毕驱傣价率讨奠尔毙搁奄渣爆寐俞烤Chapter 7PPTChapter 7PPT 膊往水琢拇催瞩姿束酌泪运琴正历完财您捕呼棚很酶爱耽帖听优夯京服衷Chapter 7PPTChapter 7PPT Which one of the followin