CAPA Fraud Prevention and Detection 2

Question 1

Which practice best prevents unauthorized changes to the vendor master file?

Accepted Answer

Restricting vendor master file changes to a designated individual separate from invoice processors

Answer

Restricting vendor master file access to a dedicated individual not involved in invoice processing creates a separation of duties that reduces fraudulent vendor creation.

Question 2

What is a 'lapping' scheme in accounts payable?

Accepted Answer

Covering theft by applying subsequent payments to conceal earlier stolen funds

Answer

Lapping involves stealing a payment, then using a later payment from another source to cover the missing amount, creating a rolling concealment of the theft.

Question 3

Which of the following is an example of an internal AP fraud indicator during invoice review?

Accepted Answer

Invoice lacks a purchase order number for a large purchase

Answer

A large invoice lacking a corresponding purchase order number bypasses the authorization control that POs provide, which is a red flag for potentially fraudulent or unauthorized purchases.

Question 4

What is the role of a 'positive pay' system in AP fraud prevention?

Accepted Answer

It matches checks presented for payment against an authorized list issued by the company to detect altered or counterfeit checks

Answer

Positive pay is a bank fraud prevention service where the company transmits authorized check details to the bank, which then flags any check not matching the list before paying it.

Question 5

An AP clerk submits reimbursement claims for the same business meal multiple times across different expense reports. This is best categorized as:

Accepted Answer

Duplicate expense reimbursement fraud

Answer

Submitting the same expense receipt multiple times to receive more than one reimbursement is a form of duplicate expense fraud, a common employee fraud scheme.

CAPA - Certified Accounts Payable Associate Practice Test

CAPA - Certified Accounts Payable Associate Practice Test

CAPA Fraud Prevention and Detection 2