Question
In: Accounting
A vice president of marketing for your company has been charged with embezzling nearly $100,000 from...
A vice president of marketing for your company has been
charged with embezzling nearly $100,000 from the company. The vice
president allegedly submitted fraudulent vendor invoices in order
to receive payments. As the vice president of marketing for the
company, the vice president is authorized to approve the payment of
invoices submitted by third‐party vendors who did work for the
company. After the activities were uncovered, the company responded
by stating: “All employees are accountable to our ethics guidelines
and procedures. We do not tolerate violations of our ethics policy
and will consistently enforce these policies and procedures.” Use
outside resources/references where applicable.
How would you evaluate the internal controls of the
company?
Do you think there are companies that develop comprehensive
ethics and compliance programs for mid‐ and lower‐level employees
and ignore upper‐level executives and managers?
Is it an ethical issue if companies are not forthcoming
concerning fraudulent activities of top executives in an effort to
minimize negative publicity?
Solutions
Expert Solution
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ekkarill92 answered 9 months agoRelated Solutions
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