Overview
Having assisted the SEC and other companies as a CFA, now envision yourself in the role of a senior internal auditor. You have been charged by the board of directors with assessing risk exposure for Innovative Hockey Gear, LLC, a hockey equipment distributor.
Using the Internet research risks associated with fraud, effective techniques that could be used to prevent or detect fraud, and the roles and responsibilities within the organization for preventing and detecting fraud.
1. Determine the types of exposure to fraud that the company could be exposed to and the related consequences to the organization. Provide a rationale for your response.
2. Evaluate tools and techniques that are the most effective in preventing and detecting fraud, making a recommendation for the tool that has the highest cost-benefit factor. Provide a
rationale for your recommendation.
3. Evaluate the roles and responsibilities in the company to prevent and detect fraud, indicating how a culture of integrity can be created within these roles.
4.Create a recommendation for a fraud prevention tool based on an analysis of potential exposure and organizational accountability.
