Investigation Planning a) Describe the process of how could you investigate the
ID: 354964 • Letter: I
Question
Investigation Planning
a) Describe the process of how could you investigate the potential fraud and the appropriate steps to complete the process.
b) What documents might you need? Who might you need to speak with regarding the fraud? Support your responses.
c) Illustrate how regulatory issues such as Sarbanes–Oxley or SAS No. 99 would impact the investigation.
d) What other fraud risk inquiries are needed to investigate the suspected fraud? What steps would need to be taken to address these risk inquiries?
Explanation / Answer
Answer a:
Investigation Planning: This planning is defined as the planning for carrying out the legal investigation act for the fraud issues at any of the business location, with due approval from the concern government authority.
Process of Fraud Investigation: The process of fraud investigation starts with identification of fraud business/person/ entrepreneurship/etc , then seeking the government approval, then sudden attack on the location and sealing the operation with the fraud act force team and reviewing and investing continuously for one or two days till the investigation gets completed.
Steps of Fraud Investigation: Following are the key steps as below
Answer b) Document needed for fraud investigations are as below
One need to speak with the government authority to plan for fraud investigation and post approval the fraud act can be carried out.
Answer C :
Sarbanes–Oxley or SAS No. 99 would impact the investigation: These laws help in proper investigation of fraud acts. These laws suggest the ideal process for business execution and the rules to be followed during the commercial business process. Thus these laws help in run the investigation smoothly and guide the investigation.
Answer (d):
Other fraud risk inquiries are needed to investigate the suspected fraud: One need to perform the risk analysis before carrying out the fraud investigations. The inquiries are essential before the act. The basic details and inquiries are helpful in assessing whether the Fraud is really happening or not. Once one is sure about the fraud, then the investigation to be works out.
Properly review of the fraud situations and gathering the appropriate details for the fraud process is must before planning for any fraud investigation.
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