Functional Business Systems

User Generated

FNZ66

Business Finance

Description

Identify a case of corporate fraud. Briefly summarize the case, including what happened, who was involved, and damages incurred. Note how the fraud was detected and discuss any red flags that appeared prior to detection. Could an accounting and finance system have helped deter this fraud? If yes, how? If no, why not? Are there any specific business policies and procedures that could have been in place that would have prevented the fraud from occurring? Explain

Direction:

  • Be sure to support your statements with logic and argument.
  • citing all sources referenced and cite inside the text.
  • APA style academic writing
  • 6-8 paragraphs include " introduction - body - conclusion "

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Explanation & Answer

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Running Head: FUNCTIONAL BUSINESS SYSTEMS

Functional Business Systems
Name
Institutional Affiliation
Date

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FUNCTIONAL BUSINESS SYSTEMS

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Functional Business Systems
Introduction
Cooperate fraud involves illegal or dishonest activities committed by a company or an
individual. These activities are designed in order to give the company or the individual
committing them an advantage. Most of the frauds involve illegal activities of obtaining money
in a company. One of such fraud was committed by Theranos Inc.
Theranos Inc Fraud
Theranos Inc Fraud is one of well know frauds involving Elizabeth Holmes the founder and CEO
of the company. Elizabeth Holmes is a Stanford University dropout who founded Theranos back
in 2003 (CBC News, 2018). Holmes said she had come up with a technology that will change the
diagnosis industry. Instead of using needles to take a huge amount of blood samples...


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