Mary has access to the Petty Cash fund. Her boss has asked her to go to lunch for a business meeting. Is it okay for her to borrow $10 for her personal lunch if she intends to pay it back the following day.

Scenario 2:

A husband and wife team have 50/50 ownership in the business. The husband has told all employees no bonuses will be given this year. You see the wife pull aside the sales person separately offering a $50,000 bonus if he makes his numbers. As the Accountant, should you mention the side deal to the husband owner.

Scenario 3:

Mike is looking to hire an accounting professional who will be his only financial person. He found the perfect candidate that has a bankruptcy in her past.

Should Mike hire the candidate?

Scenario 4:

John has found errors and discrepancies on the company's financial statements. Is it okay if he does not report this because a lot of employees in the company will probably lose their jobs if he does.

Requirements for initial discussion board post:

• Choose one scenario that you feel strongly about and indicate if you agree or disagree with the statement.
• Support your decision with a detailed paragraph explaining why you agree or disagree.
• Identify at least three assumptions you made to make your decision.
• Describe how each of the three elements of the fraud trianglecouldapply to the specific scenario chosen, even if you do not view it as a fraudulent event.