Jad is a purchasing agent at CIS Company. He was responsible for all purchases related to the company, he selects the vendors without previous authorization, coordinate with them concerning prices and quantities required. He also provide the company with the invoices from vendors, collect the issued checks and deliver them to each vendor. He noticed that his job was not reviewed by any one, so he created fake vendor and presented fake invoices then started collecting checks for himself

The fraud type would be: *

Corporate Fraud

Employee Fraud

Management Fraud

Personal Fraud

The fraud would be considered as: *

Economic Extortion

Asset misappropriation

Fraudulent statements

Bribery

The following action by Jad " He was responsible for all purchases related to the company." is a violation of internal control in : *

Supervision

Not a violation of internal control

Access control

Independent verification

The following action by Jad "he selects the vendors without previous authorization, coordinate with them concerning prices and quantities required" is a violation of internal control in : *

Access control

Accounting records

Not a violation of internal control

Segregation of duties

The following action "He noticed that his job was not reviewed by any one" is a violation of internal control in : *

Accounting records

Not a violation of internal control

Segregation of duties

Independent verification