Chapter 14 : Fraud against Organization
Fraud statistics
Loss
Detection
occupational fraud & abuse impose enormous cost on an organization
Occupational fraud schemes can be very difficult to detect
Prevention
Anti-fraud Control
internal audit department
Surprise audit
anti audit training
Organization Size
Median loss for small org and largest org was sane (but it has greater impact toward small org)
fraud committed by someone with big position costly than someone with small position
Asset Misappropriation
Cash
Inventory/other assets
Larceny
Fraudulent disbursement
Skimming
Misuse
Larceny
Cash is stolen by employees/after cash is recorded in co. accounting system
Circumstances where the employees has access to cash
Cash is stolen before it is recorded in the system
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