This sample provides common understanding of the potential fraud schemes and scenarios that a company has included in its entity-level fraud risk assessment.
Each of these schemes/scenarios should be examined by the internal audit group and senior management from each of the functional areas within the company. Fraud schemes/scenarios include benefits fraud; bid rigging; check fraud; check theft; collateral or records management; concealment of investing activity; disguised purchases; early recognition of revenue; earnings management/smoothing; electronic transaction fraud; embezzlement; employee fraud; etc.