Question

choices are: audit, dodd frank act, ethics, fraud triangle, internal controls, prevention, sarbanes oxely act

Exercise 1-5 Identifying ethical terminology LO C3 Match each of the descriptions with the term or phrase it best reflects. Termor Phrase Audit Description 1. Requires the SEC to pay whistleblowers 2. Examine whether financial statements are prepared uung GANP does not sure absolute accuracy of the statements 3. Requires documentation and verification of internal controls and increases emphasis on internal control effectiveness 4. Procedures to reduce fraud.examples are independent reviews, physical controls, and good records 5. A less expensive and more effective means to stop fraud 6. Three factors push a person to commit fraud: opportunity pressure, and rationalization 7. Belies that distinguish right from wrong Dodd-Frank Act Ethics Fraud triangle Internal controls

Answer 1

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Answers are highlighted in yellow: Solution: Answer: Dodd frank Act Explanation: It is standardized. Require the SEC: Examine whether Financial: Audit It is standardized. Requires documentation: Sarbanes-Oxley Act It is standardized. Procedure to reduce fraud: Internal control It is standardized. A less expensive and: Prevention It is standardized. Three factors push: Fraud triangle It is standardized. Belief that distinguish right: Ethics It is standardized.