Dinwow's Fraud Plan Essay
BY: Angela Y Hatter
INSTRUCTOR: Dr. Anthony J Matias, DBA, MBA, CPA
COURSE: Fraud Prevention and Detection
DATE: July 10, 2014
Dingwow, Inc. is committed to the highest possible standards of opennes, probity, and accountability in all its affairs. It is determined to maintain a culture of honesty and opposition to fraud and corruption. Dingwow’s fraud plan is established to facilitate the development of controls that will aid in the detection and prevention of fraud. It is our intent to promote consistent organizational behavior by providing guidelines and assigning responsibility for the development of controls and conduct of investigation.
Definition Fraud and Corruption
Fraud and corruption fall …show more content…
Facilitating The Plan
When facilitating Dingwow’s fraud plan, there must be professional skepticism and consideration of fraud possible in every process; critical evaluation is necessary. We must consider: * General risk profile * Industry/Geographical issues * Risks identified during Sarbanes testing of controls * Internal Audit/Management Assessment * Leverage the Fraud Triangle: Opportunity, Incentives & Pressures, and Rationalization * Evaluate design * Address potential collusion and management override * Consider practicality of segregation of duties * Validate operating effectiveness * Test like any other control activity with observations, walkthroughs, interviews, document review.
Sources of Data
The contracting application is Datatel a Banner Data Defense program that provides an Oracle developed data and network encryption package, firewall, and audit tool to offer a comprehensive security strategy that protects your sensitive information. The owner of the data is Nicole Woods, Interim Director of Accounting, and the application programmer is Curtis Mitchell. We will have to write a letter to Nichole Woods requesting access in order to obtain