1) Risk assessment is a critical aspect of good corporate governance and the same
concept is applicable in an information technology environment.
2) What are some of the verbal clues to deception?
3) What are the types of losses available for recovery?
4) Negligence applies when a person acts in a reasonable and prudent manner.
5) How are fictitious revenue schemes committed?
6) Explain what is meant by the term financial forensics.
7) While there have been numerous failures to detect fraud, abuse, violations of ethics,
the perpetrators of the scheme at Crazy Eddies have been some of the most forth
coming individuals about how it was done and how it was covered up. What techniques
or processes would you be looking for and how would you counter them in an audit of a
firm like Crazy Eddies after reading the articles?