Which control principles was violated

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Reference no: EM133497005

Question: Recently an audit of your company, where you work as a book-keeper in one of the branch locations, revealed that an Accounts Payable clerk at the corporate offices had defrauded the company of $150,000+ over the last several months. The details of the fraud were revealed and it was discovered that the clerk had been able to create fictitious vendors in the system and then was able to enter bogus invoices in the system for which they were then able to authorize for payment and cut the checks. The clerk then cashed the checks at a local bank. Requirements: Please address the following: Which control principle(s) (per your text) was/were violated that allowed the fraud to take place? What internal control recommendations would you make to the company to prevent this from happening again?

Reference no: EM133497005

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