Leon Jones worked in the warehouse of a large building supply company. One day he unexpected left for Fiji, never to return. His supervisor seized the opportunity to continue submit time cards for Leon to the payroll department. Each week, as part of his normal duties, the supervisor received the employee pay cheques from payroll and distribute them to the workers on his shift. As Leon was not present to collect his pay cheque, the supervisor forged Leon’s name and cashed it. Describe two control techniques to prevent or detect this fraud scheme?
Leon Jones worked in the warehouse of a large building supply company. One day he unexpected left for Fiji, never to return. His supervisor seized the opportunity to continue submit time cards for Leon to the payroll department. Each week, as part of his normal duties, the supervisor received the employee pay cheques from payroll and distribute them to the workers on his shift. As Leon was not present to collect his pay cheque, the supervisor forged Leon’s name and cashed it. Describe two control techniques to prevent or detect this fraud scheme?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Leon Jones worked in the warehouse of a large building supply company. One day he unexpected left
for Fiji, never to return. His supervisor seized the opportunity to continue submit time cards for Leon
to the payroll department. Each week, as part of his normal duties, the supervisor received the
employee pay cheques from payroll and distribute them to the workers on his shift. As Leon was not
present to collect his pay cheque, the supervisor forged Leon’s name and cashed it.
Describe two control techniques to prevent or detect this fraud scheme?
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