Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A client heard through the hot line that Ashley, the purchases journal clerk, periodically enters fictitious acquisitions. After Ashley creates a fictitious purchase, he notifies

A client heard through the hot line that Ashley, the purchases journal clerk, periodically enters fictitious acquisitions. After Ashley creates a fictitious purchase, he notifies Mary, the accounts payable ledger clerk, so she can enter them in her ledger. When the payables are processed, the payment is mailed to the nonexistent suppliers address, a post office box rented by Ashley. Ashley collects and deposits the check in an account he opened in the nonexistent suppliers name.

(a)

Explain the following terms and how they relate to Ashley and the situation described above:- Fraud, fraud deterrence, fraud detection, and fraud investigation.

(b)

Detail four personal fraud symptoms, or concerns, that indicate the possibility of Ashley commiting fraud.

(c)

List two procedures you could implement to uncover Ashleys fraudulent behavior.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Electronic Health Records An Audit And Internal Control Guide

Authors: Rebecca S. Busch

1st Edition

0470258209, 978-0470258200

More Books

Students also viewed these Accounting questions

Question

What is the relationship between humans?

Answered: 1 week ago

Question

What is the orientation toward time?

Answered: 1 week ago