accounting information system

Project Description:

q1: an accounts receivable clerk cashed a check received from a customer in payment of their account. the clerk kept the cash and concealed the theft posting a receipt in the customer's account.
a) describe how the separation of duties principle was violated.
b) suggest procedures to reduce the risk.

q2: a data-entry clerk in the payroll department recorded a normal workweek for an employee that quit the week prior. the clerk then created a paycheck for the previous employee, forged the previous employee's signature, and then cashed the check.
a) describe how the separation of duties principle was violated.
b) suggest procedures to reduce the risk.

q3: a college friend is discussing with you a retail business that they own. they want to hire you as a consultant to redesign their system of internal controls associated with the revenue cycle. they are concerned that not only are the existing controls inadequate, but fraud may be occurring. they state that they "want the tightest set of controls possible such that no errors or fraud could ever occur, but don't know where to start to redesign their controls or investigate the occurrence of fraud." respond to your friend and provide them with advice. [hint: consider what you have learned from the sap control module as well as the retail returns fraud case.]
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Price Type: Negotiable

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