Financial Accounting- BUS 020 - Spring 2015 Session 11 Fraud, I/C and Cash.

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Presentation transcript:

Financial Accounting- BUS Spring 2015 Session 11 Fraud, I/C and Cash

Fraud Triangle n Donald R. Cressey n Pressure n Opportunity n Rationalization Financial Accounting- BUS Spring 2015

COSO I/C Cube n Environment n Assessment of risk n Mitigating controls n Communication of exceptions n Overall monitoring Financial Accounting- BUS Spring 2015

Institute of Internal Auditors Evidence of Control n S-C-O-R-E n Safeguarding of assets n Compliance with laws and regulations n Organizational achievement of goals and objectives n Reliable reporting n Efficiency and effectiveness of operations Financial Accounting- BUS Spring 2015

Fraud Savvy Model Financial Accounting- BUS Spring 2015 Awareness Prevention Detection Investigation Prosecution

Cash Basics n Currency n Equivalent cash n S/T investments with maturity of 90 days or less n Restricted cash n Treat as current or non-current asset n Overdrafts n Treat as current liability Financial Accounting- BUS Spring 2015