Define and describe a conflict of interest
A conflict of interest occurs when an employee acts on behalf of a third party during the discharge of his or her duties or has self-interest in the activity being performed. When such a conflict is unknown to the employer and results in financial loss, fraud has occurred.
Bribery and illegal gratuities are examples of conflicts of interest. Conflicts can also occur when an employee has an interest in the outcome of an economic event. An example would include an employee who directs a disproportionate number of overpriced purchase orders to a company in which the employee is a part-owner.
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If the most optimistic time for completing an activity is 20, the most likely time is 22, and the most pessimistic time is 36, then the estimated time for the activity is ______.
A. 24 B. 34 C. 12 D. 29
Any variable that is measured over time in sequential order is called a time series
Indicate whether the statement is true or false
Which of the following is false?
A. Regardless of the achieved level of control risk in connection with the audit of the financial statements, auditing standards require the auditor to perform some substantive procedures for all significant accounts and disclosures. B. The absence of misstatements in financial statements is considered convincing evidence that existing controls are effective. C. The audit of internal control is intended to draw conclusions about the effectiveness of internal control over financial reporting as of a specific date. D. The auditor is required by AS5 to evaluate the implications of the financial statement audit for the effectiveness of internal control over financial reporting.
You make an online purchase of a hooded sweatshirt with the logo of the Dallas Cowboys. The next time you log on, your screen has a banner ad for Dallas Cowboy hats and shirts. This banner ad is most likely the result of
A. data mining. B. a coincidence. C. the internet crime of theft of private information. D. encryption software.