Overview You have learned about big corporate fraud in this course such as Enron and WorldCom, but fraud can happen in any organization. Examine a case that addresses the importance of internal controls, including how the fraud triangle can aid in an investigation and how to find missing cash. Prepare View the media activity, Employee Fraud at Miami Rehabilitation CenterLinks to an external site.. It provides information about a case of fraud that you will address in the assignment. Instructions Based on what you discovered in the media piece, (not including cover and reference pages) paper that addresses the following: Like fuel, air, and heat come together to make fire, the likelihood of fraud increases when the three elements of the fraud triangle come together. Analyze how the 3 elements of the fraud triangle are important and how all 3 elements were present in Helen's case. In 2006, The Committee of Sponsoring Organizations (COSO) published a small company version of its 1992 Internal Control-Integrated Framework. This model is designed to help small public companies improve their internal control systems. The basis for the model is that internal control is composed of 5 interrelated components. Briefly define all 5 components of internal control. Control activities represent 1 of the five components. Analyze 2 or more of the control activities and their application or lack of application in the case. Describe the red flags that should have been recognized by Juan and Maria during the commission of this financial fraud. Elaborate on how you would go about conducting a forensic audit of Juan's records. Please consider the segregation of duties and accounting system controls in your response. Use 3 sources to support your writing. Choose sources that are credible, relevant, and appropriate. The specific course learning outcome associated with this assignment is: Recommend key practices for detecting, investigating, and preventing fraud in organizations.

Overview You have learned about big corporate fraud in this course such as Enron and WorldCom, but fraud can happen in any organization. Examine a case that addresses the importance of internal controls, including how the fraud triangle can aid in an investigation and how to find missing cash. Prepare View the media activity, Employee Fraud at Miami Rehabilitation CenterLinks to an external site.. It provides information about a case of fraud that you will address in the assignment. Instructions Based on what you discovered in the media piece, (not including cover and reference pages) paper that addresses the following: Like fuel, air, and heat come together to make fire, the likelihood of fraud increases when the three elements of the fraud triangle come together. Analyze how the 3 elements of the fraud triangle are important and how all 3 elements were present in Helen's case. In 2006, The Committee of Sponsoring Organizations (COSO) published a small company version of its 1992 Internal Control-Integrated Framework. This model is designed to help small public companies improve their internal control systems. The basis for the model is that internal control is composed of 5 interrelated components. Briefly define all 5 components of internal control. Control activities represent 1 of the five components. Analyze 2 or more of the control activities and their application or lack of application in the case. Describe the red flags that should have been recognized by Juan and Maria during the commission of this financial fraud. Elaborate on how you would go about conducting a forensic audit of Juan's records. Please consider the segregation of duties and accounting system controls in your response. Use 3 sources to support your writing. Choose sources that are credible, relevant, and appropriate. The specific course learning outcome associated with this assignment is: Recommend key practices for detecting, investigating, and preventing fraud in organizations.

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

Chapter9: Auditing The Revenue Cycle.

Section: Chapter Questions

Problem 7RQSC

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Related questions

Question

Overview

You have learned about big corporate fraud in this course such as Enron and WorldCom, but fraud can happen in any organization. Examine a case that addresses the importance of internal controls, including how the fraud triangle can aid in an investigation and how to find missing cash.

Prepare

View the media activity, Employee Fraud at Miami Rehabilitation CenterLinks to an external site.. It provides information about a case of fraud that you will address in the assignment.

Instructions

Based on what you discovered in the media piece, (not including cover and reference pages) paper that addresses the following:

Like fuel, air, and heat come together to make fire, the likelihood of fraud increases when the three elements of the fraud triangle come together. Analyze how the 3 elements of the fraud triangle are important and how all 3 elements were present in Helen's case.
In 2006, The Committee of Sponsoring Organizations (COSO) published a small company version of its 1992 Internal Control-Integrated Framework. This model is designed to help small public companies improve their internal control systems. The basis for the model is that internal control is composed of 5 interrelated components. Briefly define all 5 components of internal control.
Control activities represent 1 of the five components. Analyze 2 or more of the control activities and their application or lack of application in the case.
Describe the red flags that should have been recognized by Juan and Maria during the commission of this financial fraud.
Elaborate on how you would go about conducting a forensic audit of Juan's records. Please consider the segregation of duties and accounting system controls in your response.
Use 3 sources to support your writing. Choose sources that are credible, relevant, and appropriate.

The specific course learning outcome associated with this assignment is:

Recommend key practices for detecting, investigating, and preventing fraud in organizations.

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