Essay on Fraud Techniques Exercise

п»їTravel Expenses Exercise 1 / 4

Identify the area(s) in which Bill Jones' travel bills may be misstated.

Travel Bills Exercise 2/4

Travel Expenditures Exercise 3/4

Travel Expenditures Exercise 4/4

Register Disbursements Schemes—False Refunds

Your good friend Bill Jensen runs a variety store from where he sells everything from toys and games, to saving cream to toasters. This individual has come to both you and stated that he believes one or more of his personnel may be thieving cash from him through imitation refunds through which there is really simply no refund, nonetheless they steal funds. You asked him a number of questions and located that His procedure is always to have a clerk (anyone currently for a register) fill out a refund contact form out once someone comes back goods; in case it is a: Debit or credit card refund that they run that through the cards.

Cash return (or lost receipt) his or her refund cash.

The store attendant giving the refund symptoms the return form; labels of customers are only received for the card refunds. Return approach related to inventory:

Broken items—ordinarily went back to the maker for credit rating. For non-broken items (customer simply don't want)—the item is placed back in inventory and the perpetual inventory item can be increased; but since goods are identical, 1 just understands how various items should be available per the records.

A. List audit techniques that you could conduct to address whether someone is stealing cash through fake refunds?

M. What certain improvements would you suggest in internal control to reduce or perhaps eliminate virtually any possible trouble?