Discussion 3 Available: Monday, September 10,2018 7:00 AM CDT-Sunday, September
ID: 2338538 • Letter: D
Question
Discussion 3 Available: Monday, September 10,2018 7:00 AM CDT-Sunday, September 23, 2018 11:59 PM CDT Must post first An accountant with the Atlanta Olympic Games was charged with embezzling over $60,000 to purchase a Mercedes-Benz and to invest in a certificate of deposit. Police alleged that he created fictitious invoices from two companies that had contracts with the Olympic Committee: International Protection Consulting and Languages Services. He then wrote checks to pay the fictitious invoices and deposited them into a bank account he had opened under the name of one of the companies. When he was apprehended, he cooperated with police to the extent of telling them of the bogus bank account and the purchase of the Mercedes-Benz and the CD. The accountant was a recent honors graduate from a respected university who, supervisors stated, was a very trusted and loyal employee. In your opinion, how does the accountant fit the profile of a fraudster? How does he not fit the profile? What fraud scheme did he use to perpetrate his fraud? What controls could have prevented his fraud? What controls could have detected his fraud? (Original Post Due by 9/21 11:59 PM CST. Replies Due 9/23 11:59 PM CST) Refer to the syllabus for discussion board instructions You must start a thread before you can read and reply to other threads Discussion 4 O Available Monday, September 17,2018 7:00 AM COT Sunday, September 30.2018 11.59 PM CDT Must post first On a Sunday afternoon at a hospital in the Pacific Northwest, computers became sluggish,Explanation / Answer
The accountant fits the profile because he had knowledge about all resources and access to those resources.As per the given information, he is hardworking, trusted employee, dedicated. Above all, he had no criminal record and also a younger and valuable employee.
How does he not fit in the profile?
The accountant does not fit in the profile because he was not a dissatisfied employee. As per the given information he appears to be happy with his job and also does not have any revenge against the employer. He also cooperated with the police to the extent of telling them about bank account ad purchase of Mercedes benz. He invested only a portion of embezzled money in certificate of deposit.
The accountant had created fake invoices and also wrote checks to pay invoices and deposited such checks into account which he opened in the name of the companies.
Segregation of duties between the employees could have prevented his fraud. Person who authorizes the invoices and records the books of account should be different to prevent this type of frauds.
Controls to detect this fraud involves