tevens Manufacturing Company Case (Part II You docide to ooaduct an audit of tho parchasing function for this departmen. But before you do, you deeide o gelsone additional informalien about the depanment and ils cplayees. You find that Mr. Ryan has been an cmployee for more than 25 ycars, coming to the company right froa college. He haemployees tha: repoet direccly toi-anages, Alexa Nichols; two senior buyers and dhree junior buyers. Nichols bas worked at SMC for 15 years and the buyers have wrorked in the deparme for anyhere from sx months to te years Bul n Sr. Buyer (10 years): Weedy MatthessSe. Buyer (7 year: Rick and Luc, . Buyer (3 years) Theresa Momis Jr. Buyer(2 ycars) Peter Reaz, Jr. Buyer (6 monhs). Reparding purchasing policies, any purchase that is iore than 10,000 must g0 out for hid. All bids must be appeoved by the manager of the purchasing department or bigher. Only authorized vendors are allowed to bid. Vendoes withou a vendor number mas be andled by special posessing "alppeoved by die director. unior buyers can authocize purchases of up to 35,000 senior buyers, $7,000; managers and direcos, 59,000. 2014, and 2015, and find the following Vendors with more than $100,000 of sales to Stevens Manufacturing Co. You pull a listing of vendors who bave been paid more than $100,000 for the years, 2013, 3,04% 162.643 5.83% Serial Ine. Roberts Co SysteTS 67,224 2638% so,J78 g.03% 113,723 ,-55% 261.225 c0 Supplier 1. Is there anything suspicious inthix summaay? Explaia your awer 2. Do yoa have predication for fraud? Why or why aot? 3. What are your next steps? tevens Manufacturing Company Case (Part II You docide to ooaduct an audit of tho parchasing function for this departmen. But before you do, you deeide o gelsone additional informalien about the depanment and ils cplayees. You find that Mr. Ryan has been an cmployee for more than 25 ycars, coming to the company right froa college. He haemployees tha: repoet direccly toi-anages, Alexa Nichols; two senior buyers and dhree junior buyers. Nichols bas worked at SMC for 15 years and the buyers have wrorked in the deparme for anyhere from sx months to te years Bul n Sr. Buyer (10 years): Weedy MatthessSe. Buyer (7 year: Rick and Luc, . Buyer (3 years) Theresa Momis Jr. Buyer(2 ycars) Peter Reaz, Jr. Buyer (6 monhs). Reparding purchasing policies, any purchase that is iore than 10,000 must g0 out for hid. All bids must be appeoved by the manager of the purchasing department or bigher. Only authorized vendors are allowed to bid. Vendoes withou a vendor number mas be andled by special posessing "alppeoved by die director. unior buyers can authocize purchases of up to 35,000 senior buyers, $7,000; managers and direcos, 59,000. 2014, and 2015, and find the following Vendors with more than $100,000 of sales to Stevens Manufacturing Co. You pull a listing of vendors who bave been paid more than $100,000 for the years, 2013, 3,04% 162.643 5.83% Serial Ine. Roberts Co SysteTS 67,224 2638% so,J78 g.03% 113,723 ,-55% 261.225 c0 Supplier 1. Is there anything suspicious inthix summaay? Explaia your awer 2. Do yoa have predication for fraud? Why or why aot? 3. What are your next steps
