According to COSO's managing the business risk of fraud: a practical guide, who is responsible for managing the risk of fraud is?

A) Senior level management

B) Financial statement auditors

C) Chief information officer

D) Personnel at all levels of the organizatio-including every level of management, staff, and internal auditors, as well as the organization's external auditors- have responsibility for dealing with fraud risk.

Expert Solution

Ans: D

Personnel at all levels of the organizatio-including every level of management, staff, and internal auditors, as well as the organization's external auditors- have responsibility for dealing with fraud risk.

Reason:-

Every person in the organisation has responsibility for dealing with fraud risk.

ekkarill92 answered 2 years ago

According to the 2016 COSO Fraud Risk Management Guide, what methods can an organization employ to...

According to the 2016 COSO Fraud Risk Management Guide, what methods can an organization employ to detect fraud?

1. Who is responsible for material cost variances in a business? Explain. 2. who is responsible...

1. Who is responsible for material cost variances in a business? Explain. 2. who is responsible for material usage variances in a business? Explain. 3. What are the variable overhead variances used for? 4. What advantage if any does a standard cost system have over a traditional system.

evaluate the risk of fraud within a business suggesting methods for detection

You are responsible for managing a $100,000 portfolio for a local community trust. The managing committee...

You are responsible for managing a $100,000 portfolio for a local community trust. The managing committee has heard that by investing in shares and other financial instruments, the community trust could achieve a higher return than what is currently earned through an internet maximiser account. The committee has heard that you are currently studying a unit on security analysis and portfolio management. You are requested to build a portfolio of investments by the end of July 2018, track the performance...

Comprehensively explains how the value of a business depends on who is managing it and what...

Comprehensively explains how the value of a business depends on who is managing it and what strategy they pursue. Different owners will generate different cash flows for a given business based on their unique ability to add value.

In business, risk management is define as the process of identifying, monitoring and managing potential risks...

In business, risk management is define as the process of identifying, monitoring and managing potential risks in order to minimize the negative impact they may have on an organization. Illustrate the FOUR (4) important steps for risk management in chart.

Question

According to COSO's managing the business risk of fraud: a practical guide, who is responsible for managing the risk of fraud is?

Solutions

Expert Solution

Related Solutions