Discuss the eight-step fraud risk assessment process presented in SAS No. 99 and explain how performing a risk assessment will help to prevent or detect fraud.

Ac465 unit3

Forensic accountants must ensure that their activities comply with the laws and regulations of the legal, regulatory, and professional environment. In this assignment, you will examine two components of the forensic accountant’s regulatory system: SAS No. 99 and the Sarbanes-Oxley Act of 2002.

In a 2-3 page informative essay, please address the following:

1. Discuss the eight-step fraud risk assessment process presented in SAS No. 99 and explain how performing a risk assessment will help to prevent or detect fraud.
2. What is required by Section 404 of the Sarbanes-Oxley Act? How could this new requirement prevent or detect fraud?

Assignments Submission Requirements

• Viewpoint and purpose should be clearly established and sustained by providing specific examples to support your assertions.
• Use correct grammar, punctuation, and spelling.
• Writing should be well ordered, logical, and unified, as well as original and insightful.

Written response must follow the following formatting guidelines:

• Microsoft Word document
• Title page
• Double-spacing, 12-point Times New Roman or Arial font, one-inch margins
• APA in-text citations
• APA reference list of at least two references
• Page length requirements: 2–3 pages, not counting the title page and reference page