Order ID 6463784949 Type Essay Writer Level Masters Style APA/MLA/Harvard/Chicago Sources/References 6 Number of Pages 5-10 Pages Description/Paper Instructions You pull the vendor agreements for the vendors selected (which are found on the following pages). Some of the vendors have long standing relationships with JMC while others have been fairly new. You also pull a sample of the requisitions and can find all of them except for the ones for Lantern Co. You then go to accounts payable and match the requisitions that you found in purchasing with the invoices that have been paid for each vendor. The invoices you have pulled contain the required paperwork and have the proper authorizations, even for Lantern.
While in accounts payable you start talking with one of the accounting clerks, Beth Ann, who tells you that Mr. Brackens is a very demanding manager and is very big on providing prompt payment to the vendors. In fact, for one vendor whom he says is very picky, he has to pick up their checks and personally deliver them. Beth Ann recalls that the account is Lantern Co. For a couple other accounts, he wants to know every month when their checks go out. He says he’s having to monitor them since they are fairly new. He used to do that for some other accounts, but not any more. Although she couldn’t remember the ones that he doesn’t ask for any more, he does keep an eye on Top Q and Blues Pro. This is probably a good thing, since we pay them more than others. You pull the checks and they have all been deposited into the vendor’s checking accounts.
Questions:
- Is there fraud? Why or why not?
- Will you expand your audit? How?
- Do you have predication for a fraud examination? Why or why not?
- What fraud schemes could be occurring?
- Who do you suspect? Why?
- Who don’t you suspect? Why?
- What are your next steps?
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