Fraud Risk Assessment – Meaning, Tool & Survey

2021 ◽  
Vol 56 (10) ◽  
pp. 18
Author(s):  
Aakaash Gollapudi
Keyword(s):  
Risk Assessment ◽  
Fraud Risk

scholarly journals Forensic Accounting Knowledge and Mindset on Task Performance Fraud Risk Assessment

2014 ◽  
Vol 9 (9) ◽  
Author(s):  
Oluwatoyin Muse Johnson Popoola ◽  
Ayoib Che Ahmad ◽  
Rose Shamsiah Samsudin
Keyword(s):  
Risk Assessment ◽  
Task Performance ◽  
Fraud Risk ◽  
Forensic Accounting

On the Use of Checklists in Auditing: A Commentary

2014 ◽  
Vol 8 (1) ◽  
pp. C1-C25 ◽  
Author(s):  
J. Efrim Boritz ◽  
Lev M. Timoshenko
Keyword(s):  
Risk Assessment ◽  
Experimental Studies ◽  
Risk Assessments ◽  
Cue Combination ◽  
Assessment Task ◽  
Fraud Risk ◽  
Red Flag ◽  
Application Methods ◽  
Effective Use ◽  
Fraud Risk Assessments

SUMMARYExperimental studies concerning fraud (or “red flag”) checklists often are interpreted as providing evidence that checklists are dysfunctional because their use yields results inferior to unaided judgments (Hogan et al. 2008). However, some of the criticisms leveled against checklists are directed at generic checklists applied by individual auditors who combine the cues using their own judgment. Based on a review and synthesis of the literature on the use of checklists in auditing and other fields, we offer a framework for effective use of checklists that incorporates the nature of the audit task, checklist design, checklist application, and contextual factors. Our analysis of checklist research in auditing suggests that improvements to checklist design and to checklist application methods can make checklists more effective. In particular, with regard to fraud risk assessments, customizing checklists to fit both client circumstances and the characteristics of the fraud risk assessment task, along with auditor reliance on formal cue-combination models rather than on judgmental cue combinations, could make fraud checklists more effective than extant research implies.

scholarly journals Fraud risk assessment within blockchain transactions

2019 ◽  
Vol 51 (2) ◽  
pp. 443-467 ◽  
Author(s):  
Pierre-O. Goffard
Keyword(s):  
Risk Assessment ◽  
Probability Distribution ◽  
Head Start ◽  
Counting Processes ◽  
The Public ◽  
Fraud Risk ◽  
The One

AbstractThe probability of successfully spending twice the same bitcoins is considered. A double-spending attack consists in issuing two transactions transferring the same bitcoins. The first transaction, from the fraudster to a merchant, is included in a block of the public chain. The second transaction, from the fraudster to himself, is recorded in a block that integrates a private chain, exact copy of the public chain up to substituting the fraudster-to-merchant transaction by the fraudster-to-fraudster transaction. The double-spending hack is completed once the private chain reaches the length of the public chain, in which case it replaces it. The growth of both chains are modelled by two independent counting processes. The probability distribution of the time at which the malicious chain catches up with the honest chain, or, equivalently, the time at which the two counting processes meet each other, is studied. The merchant is supposed to await the discovery of a given number of blocks after the one containing the transaction before delivering the goods. This grants a head start to the honest chain in the race against the dishonest chain.

scholarly journals Fraud Risk Assessment and Detection of Fraud: The Moderating Effect of Personality

2011 ◽  
Vol 6 (7) ◽  
Author(s):  
Nahariah Jaffar ◽  
Hasnah Haron ◽  
Takiah Mohd Iskandar ◽  
Arfah Salleh
Keyword(s):  
Risk Assessment ◽  
Moderating Effect ◽  
Fraud Risk

scholarly journals Implementation of Fraud Risk Assessment To Mitigate The Fraud Risk in Tax Audit Process

2020 ◽  
Vol 4 (02) ◽  
pp. 77
Author(s):  
Qomarudin Alfatah ◽  
Nicholas Agustinus L. Tobing
Keyword(s):  
Risk Assessment ◽  
Rational Choice Theory ◽  
Choice Theory ◽  
Audit Process ◽  
Fraud Risk ◽  
Quantitative And Qualitative Research ◽  
Risk Appetite ◽  
Directorate General ◽  
Tax Audit ◽  
High Level

<p><em>The emergence of a variety of fraud schemes, ineffective internal controls, and the number of fraud cases that occur in the taxation sector, encourage researches related to fraud risk assessment, especially in tax audit activi</em><em>ties</em><em>. This study aimed to identify potential fraud schemes risks, evaluate risk controls and discuss anti-fraud strategies using a case study at the Directorate General of Taxes in Indonesia. With a sequential mix method approach through a combination of quantitative and qualitative research, and by using rational choice theory, this research extends the literature of previous studies by providing evidence that fraud can be prevented by increasing the probability to detect fraud scheme. This study fills out the gaps related to fraud risk assessment research in </em><em>the </em><em>tax audit </em><em>process</em><em> which have been rarely performed in the literatures.</em></p><em>The results concluded that of the 20 fraud scenarios identified, there were 7 fraud scenarios categorized as high level of residual fraud risk, 9 fraud scenarios at the medium level, and the rest at low levels. This study discussed appropriate controls to mitigate the residual fraud risk to be maintained at the level of organizational risk appetite. In addition, this study also discussed anti fraud strategies that are relevant to the organization, through evaluating anti-fraud strategies that have been previously implemented and anti-fraud strategies that have never been implemented</em>

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