dicuss fraud

To Do Assignment Details Survey of Accounting Background As discussed previously, individuals who provide and regulate numbers are very powerful members of an organization. Numbers produced by a company's accountants can be used as justification for bonuses, raises, benefits, and hiring or firing personnel including managers. Also, financial statements and analysis produced by accountants determine the future course of the company. Investors and creditors decide whether or not they will invest or lend money. Many say "numbers don't lie," but that is only true as long as the accounting is done competently and honestly. Instructions To successfully complete this activity, follow these steps: 1. Pretend you are a manager, investor, or another stakeholder that must rely on accounting information produced by others (this could be the most realistic standpoint for many of you). What can be done to protect yourself or your company from fraudulent activities by other managers or employees? . How can accounting knowledge play a role in protecting you or the company? 2. Consider these questions to help guide your thoughts: How can you identify situations where fraud or abuse is likely to occur? . How can you catch fraud or mistakes after they've happened? o How can you prevent fraud and mistakes from occurring in the first place? o How can you foster an environment in your organization which discourages sloppiness and dishonesty? 3. Post your thoughts and insights by midweek. You may share personal experiences. o Reply to those who respond to your thread. You may pose questions for classmates after sharing your insights. 4. Respond to two of your classmates' posts with well- reasoned comments and additional insights by the end of the week. Notes Extra points may be given to those who put forth significantly more effort in responding to their classmates, sharing exceptional insights, and taking to heart the counsel that we "teach one another