Quizzer Page for:  Red Flags of Business Failure       Register & Pay for this Lecture                                       

Answer the following questions about the lecture...don't forget to submit them using the button at the bottom when you finish...we will grade your answers and e-mail you a digitally signed certificate of completion...

Answer the following 9 questions in the boxes provided
1.  Name several of the red flags of business failure of which the fraud examiner needs to be aware.


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2. How does the presence of the red flags you identified in your answer to Question 1 greatly increase the risk of management or fraud?


3.  Why is the continued use of out of date equipment and technology so threatening to the bottom line of any business?

 

4. Briefly discuss the role of sound strategic planning in averting the red flag conditions?


5. Why is the role of the CEO or top manager of the company key for identifying and acting to correct red flag conditions signaling failure?



6.  Briefly discuss the role of the corporate accountant and lawyer in effectively addressing these conditions.


7.  What information does the CEO need to review constantly in order to prevent the worsening of these conditions once they start?

8.  Why are governmental taxing authorities the first creditors the business owner should pay?

9.  Why should every company have well defined fiscal policies and procedures if it hopes to avoid red flag situations?

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