Sections
Downloads Available
Fraud Risk
Definition
Fraud
A knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment .
__________
* Black’s Law Dictionary. (2004). In Bryan A. Garner (Ed.), Black’s Law Dictionary (8th ed.). Eagan, Minnesota, United States: West Group.
Fraud Risk Documents
Downloads
Downloadable, articles and informational documents.
arrow_drop_down_circle
Divider Text
Developing the Entire Fraud Picture
by Alexis C. Bell, MS, CFE
Overview
Issue Date
Length
by Alexis C. Bell, MS, CFE
Overview
- Not every fraud scheme results in stolen money. Certified Fraud Examiners (CFEs) should consider all aspects of a fraud case when calculating the impact of fraud. Here are three primary calculations when reporting the amount of fraud impact:
- total exposure
- fraud amount
- known loss
Issue Date
- January / February 2021
Length
- 5 pages
Pressure Risk
Definition
What is Pressure Risk?
When an organization experiences circumstances where there is a temptation to commit fraud, but it has not yet acted upon it.
__________
* For other related definitions, we have created a Glossary for you with key terms defined.
Pressure Risk Documents
Downloads
Downloadable, informational documents.
arrow_drop_down_circle
Divider Text
Signalling for Financial Misstatements Risk, An Introduction to Pressure Risk (January 2023)
Inside This Edition
Issue Date
Length
Inside This Edition
- Early warning system for financial misstatements risk
- The importance U.S. regulators have placed upon gatekeepers and understanding pressure risk
- Pressure risk is a leading indicator of asset revenue overstatements (ARO)
- Use Case: Reviewing one organization in a single year for pressure risk to assess the risk of a material misstatement
- Origins of the Name: Understanding the name Šóta Signal Analytics
Issue Date
- January 2023
Length
- 13 pages
Asset Revenue Overstatements Risk
Definition
What is Reporting Veracity?
Discovering the risk of inauthentic financial reporting.
What is Pressure Risk?
When an organization experiences circumstances where there is a temptation to commit fraud, but it has not yet acted upon it.
What are Asset Revenue Overstatements?
Overstating assets and revenues falsely reflects a financially stronger company by inclusion of fictitious asset costs or artificial revenues. The method results in increased equity, net worth, and earnings per share for the company [1] (pp. 1.307-1.308).
__________
* For other related definitions, we have created a Glossary for you with key terms defined.
[1] Association of Certified Fraud Examiners. (2005). Fraud Examiners Manual (Volume 1, US Edition).
Asset Revenue Overstatements Documents
Downloads
Downloadable, informational documents.
arrow_drop_down_circle
Divider Text
Signalling for Financial Misstatements Risk, Introduction to Šóta Signal Analytics (March 2023)
Inside This Edition
Issue Date
Length
Inside This Edition
- Reporting veracity is critical to understanding risk
- Early warning system for financial misstatements risk
- The importance U.S. regulators have placed upon gatekeepers and understanding pressure risk
- Pressure risk is a leading indicator of asset revenue overstatements (ARO)
- Example: Trend analysis of pressure risk for iZea Worldwide Inc. (NASDAQ: IZEA)
- Taxonomy of financial statement fraud schemes
- Example: Trend analysis of ARO risk for iZea Worldwide Inc. (NASDAQ: IZEA)
- Origins of the name: Šóta Signal Analytics
- Šóta Signal Analytics founders
- Recommendations
- Letter of appreciation: United States, Department of the Treasury, Office of the Comptroller of the Currency (OCC)
Issue Date
- March 2023
Length
- 18 pages
SaaS Subscription
Contact
risk@sotascores.com
Tampa, Florida, United States
About
Šóta Signal Analytics is a software-as-a-service that produces Šóta Scores on a given organization, providing an early warning for the risk of material misstatements due to possible fraud (intentional) or mismanagement (typically unintentional). Šóta's market category is reporting veracity, which means discovering the risk of inauthentic financial reporting.
Legal
By accessing and using this site, you agree to our Terms & Conditions. Terms and conditions, features, support, pricing, and service options are subject to change without notice.
Šóta Signal Analytics and Šóta Scores are trademarks of Fraud Doctor LLC. Fraud Doctor ® is a registered trademark with the United States Patent & Trademark Office #5,987,604 . Copyright by Fraud Doctor ® All rights reserved. Registered with the United States Copyright Office.
Privacy Policy | Do not sell my info