d) Describe Purell Magazine and Publishing House fraud prevention programme and identify any improvements that might be necessary to prevent this type of fraud or at least discover it sooner. As the two of you walked around the grounds, you asked the vice president if he could explainthe accounting codes to you: "He stared at the [top] invoice for approximately 30 seconds andsaid: 'That is not my signature on the invoice!' As he looked through the stack, he found whatappeared to be about three or four other forgeries. He was completely baffled."The initial investigation revealed that all the forgeries were in the painting division, budgeted atapproximately $800,000 a year. In addition, the company employed only one person to overseethe painting operations in its facilities department: James Small. Small, a 35-year-old from NewFairfield, Ontario, earned about $30,000 a year. Purell Magazine Construction FraudYou are a newly hired fraud examiner. You have been asked to write a preliminary report on thescenario below, using the information presented in Units 1 to 4 and findings from your additionalresearch.Purell magazine and publishing house decided to outsource much of its direct-mail operations tospecialized mail vendors. As a result, the company began converting its plant in Oakville,Ontario, from a direct-mail-order factory to an office complex. Part of the office complexconstruction involved building an auditorium identical to another auditorium in its Europeanoffices.As a recently hired Auditor and fraud examiner, this is your third day on the job. In an effort toget to know your new company, you had scheduled a series of interviews with all the vicepresidents. The first interview was with the vice president of administrative services, RichardGreen, who oversaw many construction projects and maintenance services. Because of themassive renovation project, it was not unusual for hundreds of invoices to be forwarded toGreen.Coincidence one: You stopped by the accounts payable department and retrieved a series ofrecently submitted invoices for various trade expenses related to the auditorium constructionproject. “One of the things you wanted to accomplish was to understand how the accountingcodes worked-what was capitalized; what was expensed; how it was recorded, etc." So, yougrabbed a stack of processed invoices with accounting codes and went up to the construction siteto meet with the vice president for an hour-long interview.

Unethical practices are the aspect of the organization that specifies the actions or activities that…

Answered: d) Describe Purell Magazine and…

d) Describe Purell Magazine and Publishing House fraud prevention programme and identify any improvements that might be necessary to prevent this type of fraud or at least discover it sooner.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

How did the use of statistics benefit General Electric? What may be learned from how statistics was used at General Electric?
Is a knowledge of statistics required to use business intelligence (BI) tools? In what way would this be useful?
Distinguish between the terms errors and fraud. What is the auditor’sresponsibility for finding each?
What should a good company name for a mid range smartwatch consist of. How should a smartwatch fir a company look including the features. How can the smartwatch be different from others.
Explain the concept of master data management (MDM) and its significance in maintaining data quality.
What are the differences between risk management procedures and the other four forms of audit tests?
In terms of the success of data warehousing, how crucial do you believe it is that the data be of high quality? What are the advantages and telltale indicators of having access to high-quality data, and how do you get it?
Define the concept of data warehousing and its importance in modern business intelligence.
What is the importance of statistics in property management work?
Renaldo's Boutiques, Incorporated, has 14 stores located in a midwestern part of the United States. Renaldo, the president of the company, has set budgets for each store that do not allow for lost, stolen, or misplaced merchandise ( inventory shrinkage). Research shows the disappearance of store merchandise is attributed to a combination of internal and extemal causes. Customer theft-35 percent Employee theft-40 percent Administrative errors-18 percent Vendor dishonesty 7 percent Which philosophy do you believe Renaldo is following?
When implementing action research, discuss specific steps that should be taken to ensure the validity and reliability of the data that is being collected. Provide specific examples to illustrate your ideas.
What are the advantages of predictive analytics?