Vaccuming Up Fraud

Vacuuming Up Fraud Case Generally, companies arset concur 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 twaddle, researcher Controls which could have identified the fraud and restorative Controls which can nail down the problem. To prevent the fraud, I would secern deuce pervasive controls as : Separation of duties because in the pillow slip of collusion between two upper level managers, it may be impossible to prevent fraud. The second would be self-governing rapture authorization because with that control, the remains provides the merchant marine department with an controlling authorization. The shipping department leave behind not figure a shipment unless it has received independent authorization to do so. To detect the fraud, I would also ingest Examine cut-off pick u p who predetermined date in a billing or processing cycle when account occupation for the previous describe period is summarized ( when checks written against an account are collected and summarized in a monthly statement). Checks paid or deposits received aft(prenominal) on the cut-off date are included in the coterminous months statement.

And another control for spying the fraud is Examine gross sales immediately before and after end period . Sales are very key for the companys growth because most of the fraud lawful proceeding will occur during sales or treacherously sales. To prepare the fraud, the control Turnaround muniment would h! elp for the validity of the account 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 cast play in the credit department, a function that is give away from the sales department , should add new customers to the customer...If you want to micturate a full essay, order it on our website: BestEssayCheap.com

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