ACC 564 ASSIGNMENT 3: FRAUD IN THE ACCOUNTING INFORMATION SYSTEM

Jul 5th, 2016
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Week 7 Assignment 3 Submission If you are using the Blackboard Mobile Learn iOS App, please click "View in Browser” Click the link above to submit your assignment. Students, please view the "Submit a Clickable Rubric Assignment" in the Student Center. Instructors, training on how to grade is within the Instructor Center. Assignment 3: Fraud in the AIS Due Week 7 and worth 280 points For this assignment, research the Internet or Strayer databases to locate a firm that was involved in a fraud and / or embezzlement case. Explain how the firm’s accounting information system (i.e., components and functions) contributed to the fraud and / or embezzlement. You will need to focus on how each component / function of the accounting information system failed, which resulted in the scandal / case. Write a ten to twelve (10-12) page paper in which you: 1. Based on the information you researched, assess the failure of the firm’s accounting information system to prevent the related fraud / embezzlemen

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Running Head: Fraud in the Accounting Information SystemTitle:Course Name:Topic Name:Professors Name:Student Name:Date:Running Head: Fraud in the Accounting Information SystemIntroductionAccounting fraud is defined as intended misstatement of financial reports, in encroachment ofgenerally accepted accounting principles, with the purpose of making certain people act in loss totheir best interests. It is possible to recognize the determinants of fraud by an econometric model,but the dependent variable is exposed to misclassification. In the 21st century accounting fraud isa hot topic, and this incident still exists. Each account fraud caused stockholders, investors, andemployees at heavy cost (Ohlson J, 1980). This research paper describing about a firm that wasinvolved in a fraud and/or embezzlement case. Koss Corporation is an American establishedcompanies that manufacturing and designing audio and headphones accessories. In 1953 by JohnC. Koss this firm was incorporated. Primarily Koss Corporation is known as J. C. Koss HospitalTelevision Rental Company. The fraud case of Koss came about on December 19, 2009, thecommunity of stakeholders, Milwaukee, and WI of the Company woke up to realize that, SueSachdeva the CFO and VP of Finance of the firm had embezzled millions of dollars from thecompany, over a period that prolonged several years. From the ineffective and lack of internalfailures and controls in managing financial and accounting reports by

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