Business Report : Senior Accountant Working For Cape Tisbe International

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1.0 Introduction I am a senior accountant working for Cape Tisbe International (CTI) and am writing this business report to the Board concerning the issue of a large amount of money ($4 million) that has been paid to a PNG government minister as “Consulting Fees” recently. In this report, I intend to identify the fact, the issues needed to be tackled regarding this payment, and then discuss the possible consequences derived from these “Consulting Fees”, subsequently I will offer some plausible recommendations in coping with this issue in a short and long-run global expansion, and lastly I would like to discusss the appropriate ways to handle business globally in the foreseeable future. 2.0 Background A year ago, CTI signed a contract for farm machinery, worth $25 million, with Papua New Guinea(PNG). Recently, however, when I was conducting the annual internal audit, I have discovered some financial issues associated with this signed contract. As soon as I found something wrong with the transaction records I communicated with George but his answer has not addressed my confusion and concerns. Soon after that I had a chat with my boss Gareth, and failed to gain a satisfied answer again. After the conversation with both of them, thus, I decided to dig it a bit further. Now I have discovered that the actual sales revenue of the contract was $21 million due to around $4 million that has been paid to a PNG government minister as “Consulting Fees”. Apparently, Geroge and

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