Detection of fraud refers to _______.
A)the use of controls and procedures aimed at uncovering a fraud should one occur
B)the use of controls and procedures aimed at avoiding a fraud
C)auditors who assess fraud risk factors
D)incentives to commit fraud

Question

Quizplus · Accepted Answer

Detection of fraud involves using controls and procedures that are designed to uncover any fraudulent activity that may occur. This can include procedures such as reviewing financial statements, conducting internal audits, reviewing employee transactions, and implementing fraud prevention strategies. The objective is to identify fraud early on, before it can cause significant damage to the organization.

Detection of Fraud Refers to _______