Question: Write 150 words addressing the following topic. You may use external references to support your opinions. Make sure to comment to one of your classmate's

Write 150 words addressing the following topic. You may use external references to support your opinions. Make sure to comment to one of your classmate's posts.

A purchasing agent for a large manufacturing firm has responsibility for selecting vendors for the materials and supplies used by the company. The agent directs a disproportionate number of purchase orders to a supply company owned by the agent's uncle, which charges above the market price for its products. The agent's employer is not aware of the relationship between the agent and the supplier.

1) What type of fraud is this?

2) What controls can be implemented to prevent or detect the fraud?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

If the tension in the cable is 400 N, determine the magnitude and direction of the resultant force acting on the pulley. This angle is the same angle ? of line AB on the tailboard block. 400 N _30...

Write 150 words addressing one of the following questions. You may use external references to support your opinions. - Would you rather work in managerial accounting or financial accounting and why?...

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

JBR-07575; No of Pages 12 Journal of Business Research xxx (2012) xxx-xxx Contents lists available at SciVerse ScienceDirect Journal of Business Research Organizational innovation as an enabler of...

economists paper analysis . . . . Term Paper There will be one term paper for the course that is due on the date indicated on the course syllabus/ Canvas by 11:59 pm. Please refer to syllabus for the...

It's due by September 29th 6Pm. Write a 1,000 - 1250word paper on the following topic:...

PLEASE ANSWER THESE QUESTIONS DONT COPY FROM INTERNET SOURCE PLEASE IT SHOWS PLAG c)What KEY FACTORS may determine the success for Gap Inc.? Explain THREE in your answer. d)Recommendations Make...

\fDiscussion posts on Eli Lilly Case open statement Post 1 - What the consumer is looking for really using? It can be so tricky for a company to truly define the \"very final\" use of the product /...

ADMN 233 Assignment 4 Assignment 4 Instructions Assignment 4 is worth 20% of your final mark. It should be completed and submitted after you finish Chapter 13 in your textbook. This assignment is...

This text was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work's original creator or licensee. 1...

Hello, Would you please review the attached assignment? I know I have errors in and this assignment carries into the rest of the course so I need to get it corrected to move forward. I have attached...

Why do you think decision making is considered a fundamental part of management effectiveness?

What is CLASSIFICATION OF THE ANALYTICAL TECHNIQUES. - Give a general definition of Optics? - The factors that CLASSIFICATION OF THE ANALYTICAL TECHNIQUES based on it? - What is the difference...

The Venezia Company has working capital of $ 5 3 5 , 0 0 0 and current assets of $ 7 8 5 , 0 0 0 . The current ratio is:

In Medical Sociology, we see that African-American males tend to live somewhat shorter lives than their male counterparts in various races. Based on researchers, what are some factors that may...