Accounts payable fraud is an issue that may arise. Find an Accounts payable fraud story on the internet Discuss the following: What was the purpose of the fraud? What were the actions and consequences? Who benefitted from the fraud? How did the fraud get discovered? What controls should have been in place to prevent fraud?

Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter2: The Auditor’s Responsibilities Regarding Fraud And Mechanisms To Address Fraud: Regulation And Corporate Governance
Section: Chapter Questions
Problem 9RQSC
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Accounts payable fraud is an issue that may arise. Find an Accounts payable fraud story on the internet

Discuss the following:

  • What was the purpose of the fraud?
  • What were the actions and consequences?
  • Who benefitted from the fraud?
  • How did the fraud get discovered?
  • What controls should have been in place to prevent fraud?
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