Solved: Required For each of the following fraudulent acts

describe one or
Required For each of the following fraudulent acts describe one or

Required

For each of the following fraudulent acts, describe one or more internal control procedures that
could have prevented (or helped prevent) the problems.

a. Linda Hinson, the administrative assistant in charge of payroll, created a fictitious employee,
wrote weekly checks to the fictitious employee, and then personally cashed the checks for her
own benefit.

b. Jim Stewart, the receiving manager of Western Lumber, created a fictitious supplier named
B&A Building Supply. B&A regularly billed Western Lumber for supplies purchased. Stewart had
printed shipping slips and billing invoices with the name of the fictitious company and opened a
post office box as the mailing address. Stewart simply prepared a receiving report and
submitted it for payment to the accounts payable department. The accounts payable clerk then
paid the invoice when it was received because Stewart acknowledged receipt of the supplies.

c. Jalie Thomas works at a local hobby shop and usually operates the cash register. She has
developed a way to give discounts to her friends. When they come by, she rings a lower price or
does not charge the friend for some of the material purchased. At first, Thomas thought she
would get caught, but no one seemed to notice. Indeed, she has become so sure that there is
no way for the owner to find out that she has started taking home some supplies for her own
personal use.

Required For each of the following fraudulent acts describe one or

ANSWER
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