Question

Imagine that a coworker wants to circumvent an internal control to steal money from your company. Speculate on two (2) internal controls that your coworker might attempt to circumvent in order to steal the money. Recommend two (2) actions that the company could take in order to prevent the theft.

o   Outline an anti-fraud program that you would implement at your company (current or previous). Suggest the approach you would take to sell this program to your senior executives.

Answer 1

Internal controls that a coworker might attempt to circumvent

Actions company could take in order to prevent theft

1. company can prevent theft by assigning access codes to the specified employees that keep track of transactions when performed

2.company can prevent theft by assigning related activities to differ

Anti-fraud program :

i would implement a policy that requires approval by specific authority at each stage of transactions. This will reduce the intent of workers to do fraud.

in order to implement Anti-Fraud program i would set the company tone from the top. and make each and every employee aware of the consequences for the fraud.