Pretend you own your own business. You are a sole proprietor with three employees. One employee is a sales person; one employee is a bookkeeper and the other employee is in shipping. You have a product that is very popular amongst college students and therefore sales are amazing - and the company sustains itself very nicely. As the owner, you tend to travel to develop personal relationships with College Presidents; and Marketing VP's.

After reading the article:Keeping the above scenario in mind (you're the owner, etc.)respond to the prompt below inproperwritten format and answer the following:

Prompt:As the owner of this company, what type of internal controls do you have in place to ensure that while you're away the mice won't play (ahem, engage in fraudulent behavior)? Listat least fourinternal controls; and what type of protection of fraudulent behavior they control" or in other words will provide protection from.

Reference:

Article-The Four Elements of Fraud.pdf - Bing