FRAUD PREVENTION AND DETERRENCE IN ACTION Assume the following facts:

thirty-day collection period. The invoice is used to post-sales to the accounting system. Checks are received in the mailroom and logged into a deposit journal. The deposit is prepared and taken to the bank.

in the accounting system. A copy of the deposit journal from the mailroom is used to credit customers for their payments.

Assume three general ledger accounts: cash, accounts receivable, and revenue.

Draw a graphic to depict these activities and their impact on the general ledger accounts. Include the necessary personnel and at least ten fraud prevention and deterrence tools and techniques to PREVENT a skimming scheme, assuming no collusion or management override. Post the personnel and those tools and techniques on the graphic.

What if the organization owner only hired one mailroom/office employee, one accounting clerk, and one accounting supervisor (assume no controller, no internal audit, and an annual review and tax compliance—not an annual audit). How would you alter your approach to create a robust skimming prevention environment?