Financial Accounting- BUS 020 - Spring 2015

Session 11Fraud, I/C and Cash

Fraud Triangle

Donald R. Cressey

Pressure Opportunity Rationalization

Financial Accounting- BUS 020 - Spring 2015

COSO I/C Cube

Environment Assessment of risk Mitigating controls Communication of exceptions Overall monitoring

Financial Accounting- BUS 020 - Spring 2015

Institute of Internal Auditors Evidence of

Control S-C-O-R-E

Safeguarding of assets Compliance with laws and regulations Organizational achievement of goals

and objectives Reliable reporting Efficiency and effectiveness of

operations

Financial Accounting- BUS 020 - Spring 2015

Fraud Savvy Model

Financial Accounting- BUS 020 - Spring 2015

Awareness

Prevention

Detection

Investigation

Prosecution

Cash Basics

Currency Equivalent cash

S/T investments with maturity of 90 days or less

Restricted cash Treat as current or non-current asset

Overdrafts Treat as current liability

Financial Accounting- BUS 020 - Spring 2015