Fraudulent activity in business

Reference no: EM1363451

1) Companies depend on banks to help oversee their accounts and in some cases a breakdown in controls happens at the bank. With internet and remote capture banking becoming more popular, what controls should banks have in place to insure proper controls over remote deposits?

2) What procedures, if any, can we use during the invoicing process to eliminate the possibility of someone duplicating or changing information after it leaves the accounting department?

3) What type of fraudulent activity could this have been and what type of testing could have been included in the audit to discover it?

4) What can auditors do to verify inventory levels and that no fraudulent activity is occurring between annual inventory reconciliations?

5) What detection methods can be used to uncover this type of scheme?

6) What steps can employers take to minimize the misuse of non-cash assets by employees - or is this just a 'cost of doing business'?

7) What controls should a company have in place to prevent and detect larceny of inventory?

8) What ways can employees conceal inventory shrinkage?

Reference no: EM1363451

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