Forensic Accounting and Excel Concepts Quiz

Forensic Accounting

• Forensic accounting is a combination of accounting, auditing, and investigative skills to gather evidence usable in a court of law.
• It is essentially a way to detect fraud.

Excel AutoComplete Feature

• AutoComplete automatically completes abbreviated words, matching existing entries.
• It completes text and numeric entries in the same column, that match existing entries in the same worksheet.

Circular References in Excel

• A circular reference is a formula that either directly or indirectly depends on itself.
• Formulas that refer to the cell they are in are always erroneous.

Formula Calculation Precedence in Excel

• Formula calculation precedence follows the order: multiplication and division, exponentiation, positive and negative values, addition and subtraction.

Stock Market Chart Type

• To track daily stock market progress, use a Line Chart.

Workday Calculation Function

• The function to calculate workday intervals between dates is Networkdays.

Data Summarisation Tool in Excel

• Excel's CONSOLIDATE feature is an interactive data summarisation tool.

Gap Testing

• Gap testing is used to identify missing items in a sequence or series.

Error Checking in Excel

• Error checking does not detect inconsistent formula definition methods.
• It does not identify errors like #N/A or #REF!.
• It does not find errors in the logic of formula definition.

Aging Analysis Function

• The IF Function is relevant in performing aging analysis.
• AND Function is also relevant.
• TODAY Function is also relevant.
• LEFT is not relevant for aging analysis.

Identity Theft Prevention

• Shred documents containing personally identifiable information.
• Do not leave sensitive documents or cards in plain sight.
• Keep sensitive documents in a secure location at home.

Credit Card Fraud Prevention

• Sign cards as soon as they arrive.

Wireless Network Security

• Make sure to change the default router name from the manufacturer's pre-programmed designation when setting up a wireless network at home.
• Change the router's pre-set password.
• Turn on encryption features on your wireless network routers.

Personally Identifiable Information

• Credit card numbers, vehicle registration numbers, names of workplaces, and dates of birth are considered personally identifiable information.

Illicit Transaction Tracing

• Financial profile building and implementation of litigation hold procedures are parts of the tracing process.

Asset Tracing for Net Worth

• All assets in a tracing evaluation are valued at their current market value.

Sachin's Financial Statement Fraud Defense

• If Sachin didn't intentionally over-report earnings. Defense of ignorance/mistake would apply.

Akbar's Fraud Scheme

• Akbar committed a cash larceny scheme. He pocketed the cash difference instead of recording the proper sale amount

Fraudster Rationalization

• Words like "write off," "deserve," or "override" might indicate a fraudster or suspect is trying to rationalize their actions.

Company Spy

• If an information thief is monitoring a company for a long time, a permanent employee spy in the target company would be their choice.

Ghost Employee Identification

• No payroll withholding, no shared address, no shared PAN, no shared account numbers are indicators of ghost employees.

Health Care Fraud Reimbursement

• Reimbursement in health care fraud occurs when a provider receives payment for a service.

Best Investigation Methods

• Data vouching, trend analysis and tests of logical impossibilities are effective methods for a complete investigation.

Valid Credit Card Numbers

• Luhn's algorithm can help verify valid numbers for credit or debit card transactions.

Money Laundering Indicators

• Use of third-party checks for purchases, large lump sum payments made by wire transfer, willingness to provide normal information, and requests for large maximum cash values for certain premiums are indicators.

Employee Cooperation During Investigation

• Employees are required to cooperate in internal investigations regardless of investigation nature.

Evidence Preservation in Computer Forensics

• Intentional or accidental destruction of computer files relevant to litigation results in sanctions.
• Failing to suspend routine destruction of electronic information for existing litigation cases is unacceptable.
• Destruction of physical evidence relevant to pending litigation is unacceptable.

Defamatory Statements in Writing

• Libel refers to defamatory statements made in writing.

Public Disclosure of Private Facts

• A plaintiff must prove to establish liability in public disclosure of private facts that statements about another's private life were not public concern and highly offensive to a reasonable person in a court of law.

Digital Footprint

• A digital footprint is all the information available about an individual online. This includes photographs, blogs, and social media postings, among other details.

Cryptography and Secure Messaging

• Cryptography techniques are used to make messages immune to attacks. This means making messages unreadable to anyone except intended recipients.

Malware Spreading Methods

• Baiting is when malware is spread via USB drives left in public places.

Proxy Server Use

• Hackers use proxy servers to create strong connections and connections, which are masked from the target.

Network Attack Types

• MITM attacks involve a fraudulent server acting as a relay point for malicious activity.

Social Engineering Methods

• Phishing and spam emails designed to trick people can constitute social engineering.

SQL Injection Attacks

• SQL injection is adding malicious code into strings. This code is later passed to an SQL Server instance.

Proper Acquisitions Techniques

• Choosing a suitable data acquisition technique depends on many factors. Disk to image is one of them.
• Disk to disk and sparse acquisitions are also applicable methods.

Proper Data Duplication Methods

• Bit-stream copy, image copy and mirror copy are all methods for exact replica duplication.
• Drive image is another exact replica method.

Computer Actions

• Shut the computer down, unplug it, start typing or log off a user.

Evidence Minimizing Contamination

• Evidence handling should be done by as few people as possible and stored in secured areas to minimize the risk of contamination.

Forensic Evidence Support

• Corroborative evidence links an individual to a particular event, place, or another individual or supports other evidence.

Legal Issues in Computer Forensics

• Admissibility of evidence is a core legal issue in computer forensics for proper usage.

Forensic Drive Wiping

• Removing earlier information from a forensic drive is accomplished via wiping the earlier contents. This method is a good forensic practice as it preserves security and confidentiality.

Introductory Interview Terms

• During an interview, terms like 'investigation', 'review' and 'inquiry' should not be used during the introductory phase.

Interview Question Preparation

• Preparing a list of all the questions beforehand will improve interviewing time flow and allow for the interviewer to keep track of the order they are asking, making it more efficient.

Privacy Violation

• Publishing or broadcasting obscene materials is a crime. So is cyber terrorism, including repeated harassment through threatening behavior via electronic means.
• International law prevents the hacking or unwarranted access of social networking accounts, which is considered a violation of user privacy.

Mutual Legal Assistance Issues

• Law enforcement matters and requests for information can be formally and officially requested from other countries via official channels.

Evidentiary Documents Certification

• A document must be properly validated and certified before being presented as evidence in a court.

Witness Types

• A witness who cannot speak is known as a dumb witness.

Test your knowledge on forensic accounting and essential Excel features. This quiz covers various topics including functions, chart types, and best practices for security and identity theft. Enhance your understanding of financial analysis and Excel usage in forensic contexts.