Tone at the Top

ACC556 Week 6 Short Answer Quiz

1. What does it mean to create a “Culture of Honesty, Openness, and Assistance?” Give an example from an organization with which you have been affiliated.

2. Codes of Conduct and Conflict of Interest Forms are often called “soft” controls. What does this mean?

3. What does it mean to have a good system of internal controls? Give some examples of internal controls.

4. Whistle blower policies and procedures? Good or bad idea? Why?

5. Symptoms of fraud can be separated into six groups: (1) accounting anomalies, (2) internal control weaknesses, (3) analytical anomalies, (4) extravagant lifestyle,

6. (5) unusual behavior, and (6) tips and complaints. Discuss three.

7. Discuss the elements of a good fraud report.

8. What does “Tone at the Top” mean?

9. Discuss the relative oversight responsibility of the audit committee, management, internal audit and independent auditors as it pertains to fraud.

10. Summarize the five steps of managing the Business Risk of Fraud.

11.  Define and explain ERM.

12. What is a risk assessment? What are the steps to complete one?

13. Give some examples of how technology may be used in fraud prevention.

14. Explain FCPA and the U.K. Bribery Act. Why all the fuss?