Question

Describe three potential fraud symptoms.

Answer 1

weakness in internal control system for recording transaction and control environment.Asssuming the internal control of organisation may fail to detect ,control and prevent to frauds.

Analytical relationship of data shows anamoly trends and ratio are going in oppsite direction that of the industry.analysis of financial and non financial information is not consistent.

lifestyle symptoms : spending patterns that give rise to doubts about that the income of person is much less as compare to his life style spending.