ACC693 SNHU Wayland Manufacturing company Accounts Payable Fraud Discussion

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timer Asked: Apr 8th, 2019
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Question Description

Specifically, the following critical elements must be addressed:

Development of Hypothesis

  • Using an analysis of the fraud triangle and potential red flags, what types of fraud could be occurring in the company?
  • What preventive or detective controls are present or absent that would safeguard against fraud? Support your response.
  • What is your fraud hypothesis? Why do you feel fraud is occurring at this company?
  • Based on your hypothesis, what are appropriate ways to collect evidence without violating professional standards such as the American Institute of CPAs (AICPA) code of conduct?

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ACC 693 Milestone Two Guidelines and Rubric Overview: Milestone Two provides the basis for planning the testing of your hypothesis for the fraud scheme. In forming the hypothesis, you will determine the type of fraud that could occur, the controls present or absent in the company, and how the fraud could occur. Prompt: For this milestone, you will submit the Development of Hypothesis section (Section II) of your final project. Be sure to address all of the critical elements as outlined below. Specifically, the following critical elements must be addressed: II. Development of Hypothesis A. Using an analysis of the fraud triangle and potential red flags, what types of fraud could be occurring in the company? B. What preventive or detective controls are present or absent that would safeguard against fraud? Support your response. C. What is your fraud hypothesis? Why do you feel fraud is occurring at this company? D. Based on your hypothesis, what are appropriate ways to collect evidence without violating professional standards such as the American Institute of CPAs (AICPA) code of conduct? Guidelines for Submission: Your paper must be submitted as a 2- to 3-page Microsoft Word document with double spacing, 12-point Times New Roman font, one-inch margins, and at least two sources cited in APA format. Critical Elements Proficient (100%) Needs Improvement (80%) Not Evident (0%) Value Development of Hypothesis: Types of Fraud Identifies what types of fraud could be occurring in the company, utilizing an analysis of the fraud triangle and potential red flags Identifies what types of fraud could be occurring in the company, utilizing an analysis of the fraud triangle and potential red flags, but there are inaccuracies present Does not identify what types of fraud could be occurring in the company 23 Development of Hypothesis: Safeguard Determines preventive or detective controls that are present or absent that would safeguard against fraud and supports response Determines preventive or detective controls but lacks an application to controls that are present or absent in this fraud, or does not support response Does not determine the preventive or detective controls that would safeguard the company against fraud 23 Development of Hypothesis: Fraud Hypothesis Testing of Hypothesis: Without Violating Professional Standards Articulation of Response Discusses fraud hypothesis and why it is occurring at this company Discusses fraud hypothesis and why it is occurring at this company, but discussion lacks detail or hypothesis is illogical Does not discuss fraud hypothesis 22 Determines appropriate ways to collect evidence without violating professional standards based on hypothesis Determines appropriate ways to collect evidence without violating professional standards, but does not base determination on hypothesis Does not determine appropriate ways to collect evidence without violating professional standards 22 Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 10 Total 100% ...
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Tutor Answer

Msharon
School: Purdue University

Attached.

Focus;
This milestone discusses the types of fraud, provides a hypothesis and respective evidence
collection approaches.

Attached.

Running head: ACCOUNTS PAYABLE FRAUD

Accounts Payable Fraud
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ACCOUNTS PAYABLE FRAUD
Introduction

The growing complexities of internal operating systems in an organization has increased
the need for a profound foundation of fraud detection and prevention. Fraud within the accounts
payable (AP) systems is a common type of fraud that damages the public reputation and confidence
of customers in an organization. Identification of fraud in a financial institution entails a
comprehensive approach to match data points and define any abnormal activities. Fraud
management in an organization is an essential component that increases the reputation of integrity,
safeguard market confidence and public trust. This milestone discusses the types of fraud, provides
a hypothesis and respective evidence collection approaches.
Types of Fraud
The fraud triangle can be used to gain an understanding of...

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