Sample content
ACC 557 Week 5 DQ1
“Internal Controls” Please respond to the following:
From the e-Activity, analyze the situation from the company you selected and the internal controls that may have been compromised to allow the problem to occur and the resulting financial impact to the business. Propose a plan to prevent this type of situation in the future.
Match the situation with the primary components of the fraud triangle factor (opportunity, financial pressure, or rationalization) that best describes it and specifically create strategies to address this component of the triangle to prevent recurrence for the above-mentioned company.
Asset misappropriation involves frauds in which the employees of a company use deceit to misuse or steal the company’s resources (Albrecht, 2004). Some of the assets of the organization are used by the perpetrators for their individual benefits. Apart from employees of the company, customers or suppliers of the company may cons
1. ACC 557 Week 5 DQ1
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Sample content
ACC 557 Week 5 DQ1
“Internal Controls” Please respond to the following:
2. From the e-Activity, analyze the situation from the company you selected and the
internal controls that may have been compromised to allow the problem to occur
and the resulting financial impact to the business. Propose a plan to prevent this
type of situation in the future.
Match the situation with the primary components of the fraud triangle factor
(opportunity, financial pressure, or rationalization) that best describes it and
specifically create strategies to address this component of the triangle to prevent
recurrence for the above-mentioned company.
Asset misappropriation involves frauds in which the employees of a company use
deceit to misuse or steal the company’s resources (Albrecht, 2004). Some of the
assets of the organization are used by the perpetrators for their individual benefits.
Apart from employees of the company, customers or suppliers of the company may
conspire to fraud the company. The distinguishing feature of asset
misappropriation is that the assets are lost through trickery but not coercion. In the
recent past, an automobile manufacturer in the United States felt the effects of
asset misappropriation. The scheme was large to the extent of the firm losing $4.36
million through fraud. This money was lost in the process of purchasing the raw
materials. There are various raw materials that may have been compromi
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