1-Identify each of the frauds and describe how it was accomplished. Be sure to include support from...

Question

1-Identify each of the frauds and describe how it was accomplished. Be sure to include support from your review of the records. Identify those people who took part in the frauds.

2. 2- If possible, quantify the economic impact to the business for each fraud.

3. 3-Provide recommendations to the client so that the frauds do not occur in the future.

tallahassee-part-2-sksarcdw.pdf

Khushboo · Accepted Answer

Recommendation regarding fraud occurred:
In the given case, the fraud was mainly on account of three activities: Equipment Purchase, ghost employee and ticket skimming. We would recommend below actions that should be taken or implemented to prevent and detect fraud in future:
i. The management should implement strong independent internal auditing system in all the areas i.e. internal audit should vouch and verify the transactions and should verify the records and outside records such as vendor invoices and material receipt register, cash deposit and withdrawal slip and bank statements, purchase orders with invoices and material receipt register etc.

1-Identify each of the frauds and describe how it was accomplished. Be sure to include support from your review of the records. Identify those people who took part in the frauds. 2. 2- If possible,...

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