Fraudulent activity in business

Assignment Help Accounting Basics

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

Questions Cloud

Filing statuses for income tax return : In each of the following independent situations, determine Winston's filing status for 2012 and why. Winston is NOT married.

What is the change in marys potential energy : What is the change in Marys potential energy. Find the final speed of the particle.

Explain what amount would be shown as a liability : Explain What amount would be shown as a liability related to the coupons on the balance sheet as of December 31, 2003? If none, explain why.

Contemporary health care facility : Compare and contrast a contemporary health care facility or physician's office operation with a health care facility or physician's office operation of 20 years ago.

Fraudulent activity in business : What type of fraudulent activity could this have been and what type of testing could have been included in the audit to discover it? What can auditors do to verify inventory levels and that no fraudulent activity is occurring between annual inven..

Find out the position at which a third charge can be placed : Find out the position at which a third charge can be placed.

Challenges for preventative health care : What are a few of the root causes of the trend toward prevention? What are the key root causes of the challenges for preventative health care? How do prevention and treatment models compare as to outcomes?

Explain what are four small business opportunities : Explain What are four small business opportunities that need to be considered when starting a new business?

Significant accounting estimate : What is an example of a significant accounting estimate? What is the importance of these estimates? How do ethics play into the decision-making process? Which financial statements include significant accounting estimates? Why?

User Account

All Pages