Fraud Investigation Paper

Jun 29th, 2015
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You have completed your investigation on allegations against a plant employee of an acquired corporation, Lakes Inc. that is based on the basic information given below. Create a report on the results of your investigation and present final results that your investigation has concluded. The following are the main points of the investigation, including what took place and the findings of the investigation: Facts: 1.You conducted an investigation at the plant of Lakes, Inc. based on an anonymous tip that the company received on June 12, 2007 that an employee was submitting false expense claims. 2.The tip stated that an invoice for the purchase of a computer server was false and that the actual purchase was for a high definition (HD) flat screen television. 3.The company requested that you perform the investigation. 4.The investigation took place from August to November 2009. 5.The investigation determined that $8,795.60 in false invoices had been submitted for reimbursement through the p

Word Count: 1150
Showing Page: 1/6
Fraud Investigation PaperNameClassDateProfessorFraud Investigation Paper The investigationof allegations against a plant employee of an acquired corporation, Lakes Inc has resulted in the discovery of falsely submitted expense claims. The investigation began after an anonymous tip was sent to officials in the company. The tip was received by the company on June 12, 2007. The tip stated the purchase for a computer server was fraudulent and a television had actually been purchased in its place. Upon further investigation, the company discovered there was no new computer server bought and in fact the purchase had been for a high definition television. The company hired an investigator and began to search for the culprit of this known fraud. It is important for companies to have protection in place to protect against acts of theft or fraud. It is estimated that one third of employees will commit an act of fraud against their place of employment (Wells, 2001). Smaller companies are more directly affected by these acts. Responding to these demands requires the auditor to have a thorough understanding of the misappropriation of theassets and fraudulent disbursement schemes. Although "internal theft" and "employee fraud" are commonly used, a more encompassing term is "asset misappropriation"(Wells, 2001). Asset misappropriation occurs when an employee uses company supplies or equipment to commit acts of fraud or for personal usage. Fra

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