1. An overview of fraud in Australia.(1 Mark)
2. Describe five (5) common forms of fraud that occurs over accounts receivable in Australia.(2.5 marks)
3. Critical analysis of five (5) possible internal control weaknesses relating to LFL's systems that allow fraud to occur and the impact these weaknesses could have on the organisation.(2.5 marks)
4. Recommendation of specific application controls LFL could implement to minimise the impact of each of the potential weaknesses you have identified above. Note that your client is seeking practical controls they can implement in the coming months, not theoretical controls;(5 marks)
5. Following from the weaknesses and controls you have identified, prepare part of a document flowchart to illustrate the implementation of at least two (2) of these controls. As part of your flowchart:(6 marks)
6. include at least two (2) relevant business areas (you do not need to document the entire process); and
7. provide a short narrative of how the document flowchart captures the application of controls you have identified.