Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
8 Cards in this Set
- Front
- Back
|
Fraud Schemes by Crazy Eddie
|
Skimming and Financial over/under statement
|
|
|
Stealing merchandise v. billing schemes
|
When an employee steals merchandise he is stealing an asset the company needs, out money and asset. Billing schemes the company does not need the item, loses money only
|
|
|
Five categories of fraudulent disbursements
|
Billing Schemes
Payroll Schemes Expense Reimb Schemes check Tampering Register Disbursments |
|
|
Controls to minimize forgeries of checks
|
Maintain strict procedures for out going checks
Rotate authorized signers Have authorized check singers verify signatures Access to sig stamp should be limited |
|
|
Separation of duties - Check Tampering
|
Check cutting & posting
Check signing check delivery Bank statement recon |
|
|
Methods to commit check tampering
|
forged maker
forged endorsement altered payee concealed check authorized maker |
|
|
Methods to obtain authorization for falsified timecard
|
Forging supervisor sig
Collusion w/supervisor rubber stamp poor custody procedures |
|
|
Detection of inflated commissions
|
Run reports to confirm a linear relationship
comparative analysis uncollected sales random sampling |
