You have been hired by a small firm to analyze its accounts receivable department and assess how

Question:

You have been hired by a small firm to analyze its department and assess how susceptible it is to fraud. The company operates a table manufacturing facility. The only employee in is Joanne, an employee of 10 years. Joanne opens all cash receipts, credits the clients’ accounts, and deposits the money at the bank. What fraud-related risks does this company face? What changes, if any, should be made?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...