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QUESTION TWO . Action must be specifically taken to prevent the occurrence of frauds involving the assets of the company. Finance Director of Food All

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QUESTION TWO . "Action must be specifically taken to prevent the occurrence of frauds involving the assets of the company". Finance Director of Food All Limited addressing accounting staff of the company. Of particular interest to the directors are: The safety of unclaimed wages The receipt of cash from customers. The company's cheque books Issue of credit notes to debtors. Required: For each of the above, explain how a fraud can occur in the area. b.. What controls should be in place to prevent the occurrence of each of the frauds described in (a) above

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