Vaccuming Up Fraud

Vacuuming Up Fraud Case
Generally, companies cant have success without controls. Control s are substantial for the growth of the participation . There are three types of control who can stand by to improve the company profitability: Pervasive Controls which should have foreseeed the fraud, researcher Controls which could have identified the fraud and Corrective Controls which can nail down the problem.
To prevent the fraud, I would identify deuce pervasive controls as : Separation of duties because in the case of collusion between two upper level managers, it may be impossible to prevent fraud. The second would be Independent rapture authorization because with that control, the remains provides the shipping department with an unconditional authorization. The shipping department leave behind not record a shipment unless it has received independent authorization to do so.
To detect the fraud, I would also ingest Examine cut-off date who predetermined date in a billing or processing cycle when account occupation for the previous reporting period is summarized ( when checks written against an account are collected and summarized in a monthly statement). Checks paid or deposits received later on the cut-off date are included in the next months statement.



And another control for spying the fraud is Examine gross sales immediately before and after end period . Sales are very important for the companys growth because most of the fraud legal proceeding will occur during sales or false sales.
To prepare the fraud, the control Turnaround muniment would help for the validity of the document because the turnaround documents were created at the time the CSR entered the order and were printed in the warehouse. Thus, the shipping clerks are precluded from entering unauthorized shipments. And the second choice would be Independent customer master data maintenance. only force play in the credit department, a function that is separate from the sales department , should add new customers to the customer...If you want to get a full essay, order it on our website: Ordercustompaper.com



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