Discussion

You have an extensive background in manufacturing. Over your career, you have worked in both small and large manufacturing businesses as a salesperson, sales manager, VP of Sales, and then decided to finish your accounting degree and move to finance positions, including a Controller position, overseeing all aspects of manufacturing accounting. You know sales, accounting, and all operations within a manufacturing organization and how things should work.

You are now a fraud consultant running a lucrative consulting business, specializing in manufacturing operations. You have been asked by two of the companies you used to work for to help them determine how recently discovered financial fraud could have been avoided with proper processes, or internal control policies and procedures, in place.

Internal controls are important for companies as they implement rules and procedures, such as handling incoming cash, checks, and payment authorization, that help ensure the integrity of financial and accounting information, promote accountability and prevent fraud.

Internal controls can help improve the operational efficiency of financial accounting accuracy and timeliness.

When internal controls are not properly implemented and followed, an organization risks experiencing a variety of issues including – but not limited to – a failure to comply with laws and regulations, fraud, or employees stealing assets.

For your discussion post:

The following two businesses reached out to you to help investigate and correct their recent fraudulent activity from occurring again:

The Robotics Company—a robotics technology company that sells its equipment to businesses around the world.
W&M Windows—a manufacturing company that provides energy-efficient windows to clients across North America.
Your assignment as the companies’ consultant is to identify the weaknesses in the companies’ processes that allowed the frauds to occur.

For each company’s situation, please answer the following questions for each company:

What went wrong in the organization’s structure that allowed the issue to occur?
What is your recommendation(s) that the organization can follow to prevent this activity from occurring again?
Details:

The Robotics Company

Noah, a sales manager at The Robotics Company, frequently travels to potential clients across the United States to help sell the company’s products and services. Because of his frequent trips, Noah developed personal relationships with several local individuals. He regularly dined out with them at expensive restaurants and submitted claims for expense reimbursement for “business-related meals.” Noah accumulated $10,000 worth of fraudulent expenses over two years by spending outrageous amounts on food and even up[1]charging the amount before submitting expenses to get more money in his pocket. As time went on, Noah bragged to his colleagues about “getting away” with his expense abuses, justifying that the meals are extra compensation for his stressful travel schedule. The senior leadership team learned of the fraud a few weeks after colleagues heard about his expense abuses. The team confronted Noah and promptly terminated him.

W&M Windows

As a top executive at W&M Windows, Sofia has the authority to approve vendor invoices and have them processed for payment by the company’s accounts payable department. Sofia, along with three of her friends, developed a scheme where she would facilitate payment of bogus invoices by submitting fraudulent vendor forms in the names of three friends or illegitimate companies controlled by them. Checks issued by the company in payment of these invoices were sent to Sofia’s friends. Sophia and her friends successfully stole $700,000 from this scheme. Sophia received $140,000 from this amount as kickbacks.

Your post must be at least 300 words with two replies to students.

The grading rubric is attached – please click on the three dots on the upper right-hand corner of this assignment to see the categories and grading metrics.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Open chat
1
You can contact our live agent via WhatsApp! Via + 1 929 473-0077

Feel free to ask questions, clarifications, or discounts available when placing an order.

Order your essay today and save 20% with the discount code GURUH