,FOR2607 Assignment 2 (COMPLETE ANSWERS) Semester
1 2025 (629888) - DUE 21 April 2025; 100% trusted,
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Study below case study and answer the questions.
Case study
Fraud and corruption in the Public Service will always be
problematic, counter-productive, and devastating, especially in
young democracies and developing countries. Although
government introduced and continues to add various forms of
controls, the persistence of criminals continuously challenges
these controls for self-enrichment. To prevent and detect fraud
and corruption in the Public Service, lifestyle audits are a critical
and legitimate management tool and forms part of a
department’s system of risk management. Fraud and corruption
are usually committed by means of “off book” transactions,
typically the acceptance of a bribe, or by manipulating records,
especially those involving tenders and procurement. These “”off
book” transactions are very difficult to detect and dishonestly
inclined professionals are able to conceal their fraudulent actions
with disturbing alacrity and ease, particular in work
environments with weak controls or limited segregation of duty.
Sometimes the only clue to these illicit activities is a sudden
unexplained change in an employee’s lifestyle. (Guidelines of
conduct lifestyle audit (2001)
Question 1
, Explain in your own words, what is the “Financial
investigation.”
Please support your answer with three sources.(05)
Explanation of Financial Investigation
A financial investigation refers to a detailed examination of an
individual’s or organization’s financial activities to uncover
illegal or unethical actions, such as fraud, corruption, money
laundering, embezzlement, or other financial crimes. This
investigation typically involves reviewing financial records,
transactions, banking activities, asset holdings, and lifestyle
changes that may indicate illicit financial activities. The goal is
to identify any discrepancies, hidden assets, or patterns of
financial behavior that do not align with the individual’s or
entity's reported income or financial status. Financial
investigations are conducted by specialized professionals,
including forensic accountants, investigators, or law
enforcement, and often require collaboration with legal and
regulatory bodies.
Supporting Sources:
1. U.S. Department of Justice (DOJ) - Financial
Investigations and Prosecutions
The DOJ defines financial investigations as a process of
uncovering illegal financial transactions and identifying the
financial aspects of criminal activities. This can include
analyzing banking records, financial statements, and
1 2025 (629888) - DUE 21 April 2025; 100% trusted,
comprehensive and complete reliable solution with
Study below case study and answer the questions.
Case study
Fraud and corruption in the Public Service will always be
problematic, counter-productive, and devastating, especially in
young democracies and developing countries. Although
government introduced and continues to add various forms of
controls, the persistence of criminals continuously challenges
these controls for self-enrichment. To prevent and detect fraud
and corruption in the Public Service, lifestyle audits are a critical
and legitimate management tool and forms part of a
department’s system of risk management. Fraud and corruption
are usually committed by means of “off book” transactions,
typically the acceptance of a bribe, or by manipulating records,
especially those involving tenders and procurement. These “”off
book” transactions are very difficult to detect and dishonestly
inclined professionals are able to conceal their fraudulent actions
with disturbing alacrity and ease, particular in work
environments with weak controls or limited segregation of duty.
Sometimes the only clue to these illicit activities is a sudden
unexplained change in an employee’s lifestyle. (Guidelines of
conduct lifestyle audit (2001)
Question 1
, Explain in your own words, what is the “Financial
investigation.”
Please support your answer with three sources.(05)
Explanation of Financial Investigation
A financial investigation refers to a detailed examination of an
individual’s or organization’s financial activities to uncover
illegal or unethical actions, such as fraud, corruption, money
laundering, embezzlement, or other financial crimes. This
investigation typically involves reviewing financial records,
transactions, banking activities, asset holdings, and lifestyle
changes that may indicate illicit financial activities. The goal is
to identify any discrepancies, hidden assets, or patterns of
financial behavior that do not align with the individual’s or
entity's reported income or financial status. Financial
investigations are conducted by specialized professionals,
including forensic accountants, investigators, or law
enforcement, and often require collaboration with legal and
regulatory bodies.
Supporting Sources:
1. U.S. Department of Justice (DOJ) - Financial
Investigations and Prosecutions
The DOJ defines financial investigations as a process of
uncovering illegal financial transactions and identifying the
financial aspects of criminal activities. This can include
analyzing banking records, financial statements, and
