Accounts payable fraud is an issue that may arise. Based on what you've learned about accounts payable, use your knowledge about internal and external controls to locate an example of internal or external fraud. This could be a personal experience you may have had with fraud, an experience one of your acquaintances has had with fraud, or a fraud story found on the internet, such as the case of Google and Facebook.

Discuss the following:

1) What was the purpose of the fraud?

2) What were the actions and consequences?

3) Who benefited from the fraud?

4) How did the fraud get discovered?

5) What controls should have been in place to prevent fraud?