Using a T-chart, how would one account for the fraudulent activity taking place in a company? Mike used to work at a car dealership and was responsible for dealing with and approving invoices for goods and services. Mike fraudulently stole 7 million dollars over the course of 3 years from the company by fabricating invoices and approving invoices that were sent to accounts that he controlled. What is/what are the accounting techniques apppied and what does the proper T - chart look like for this transaction/these transactions?

Answer rating: 100% (QA)

What has happened here in the situation is internal fraud This was done by Mike an employee of the company Internal fraud occurs when an employee involved in the use of invoices receives a valid merch... View the full answer