Description
For this assignment you will state how you will respond to the situation in the story. How would you feel personally? What (if anything) would you do as an employee? What would SOX require?
How would you feel as an employer? What would you do? How would you remedy this problem (if at all) to protect your business going forward?
Write a three page report on this event; reference SOX and best practices to prevent fraud in a fast food restaurant. Is this an industry wide issue? If so, how problematic is this type of activity and how much loss is produced?
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Explanation & Answer
Attached.
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Running head: ROWDY RANDY
Rowdy Randy's Case Study
Student's name
Student's institution
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ROWDY RANDY
Rowdy Randy's Case Study
In consideration of Rowdy Randy's pizza and pub case study, the situation involving
Tom's fraudulent actions has made me feel bad. The reason for this is since he used unscrupulous
activities to attain extra money from the business by exploiting customers. Moreover, his
personality was wrong in the sense that he was not contented with the little salary he got and
claimed that the bosses manipulated little guys like him. I also felt that Tom should be held liable
for his actions and that it is the protagonist's responsibility to report the situation to the relevant
authorities since his activities will eventually be the restaurant's downfall.
As an employee of the organization, I would talk to Tom concerning his actions as a way
of influencing him towards doing the right thing and use other people such as his parents as
advisory parties regarding the issue. Additionally, in case he continues with the activity, it is vital
to attempt using threats and ultimatums as a way of invoking him to stop since they bring forth
the fear of unemployment. However, if the habit persists, reporting the issue to management is
the only way of ensuring Tom stopped stealing money from the business.
In this perspective, the Sarbanes Oxley Act (SOX) would be the best way of detecting
fraudulent actions. The reason for this is since it sensitizes on the importance of internal controls
by providing that Chief Execu...