Foolproof Fraud Detection Paper

Phar-Mor, Inc was a thriving discount grocery store in the late 1980’s. Phar-Mor was moving product quickly but profit margins were not significant enough to pay the bills. By the early 1990’s, Phar-Mor declared bankruptcy due to fraudulent financial reporting and misappropriation of assets, making it one of the largest frauds in U.S. history. Below, we will use auditing standard AU 316.85 Appendix A in conjunction with the video “How to Steal $500 million” to analyze how incentives/pressures, opportunities, and attitudes/rationalizations allowed for fraud to start and continue at Phar-Mor.

Werle used Digital Analysis technique to uncover this fraud. She conducted computerized analytical review. She also conducted in depth research to investigate irregular activities and contracts that could have been entered in to by

Abstract- This research documents a comprehensive evaluation of the emerging graph databases along with a benchmark study to compare it to the existing relational model. With the ease of the graphical representation brought in with Neo4j, we saw the opportunity to attempt getting details about the various attributes in the dataset and analyze this data to present a statistical view along with its popular counterpart, MySQL. The ultimate goal of this study is to determine whether a traditional relational database system like MySQL, can be replaced completely in production, by a graph database, such as Neo4j.

Cases of fraud have been increasing over the years, and different agencies and authorities that have the task of subduing fraud have to get involved and put a stop to it. In the instance of which fraud has been uncovered, it is crucial to be aware of the red flags that were present in relation to fraud and associate them to the factors related to the fraud risk assessment. As Troy Gillard states in the Rd news magazine, a man that broke free after being acknowledged as suspicious when he wanted to take a loan out at the Cash Canada using a stolen ID amongst other official documents that had been stolen. It seemed that the ID and the other documents

The amount listed is the enrollment agreement was 10,020.00 which gives a difference of :

If you want to report potential wrongdoing to the Securities and Exchange Commission (SEC, you are protected by the SEC Whistleblower Program. The program, created by the Dodd-Frank Wall Street Reform and Protection Act, offers employment protections as well as a monetary incentive to report a tip to the SEC. You don't have to work for a company to report possible fraud, however, finance, compliance and accounting employees are more likely to have access to specific transactions that are potential violations.

It is important to first gain an understanding of the various types of fraud, in order to aid understanding in regards to the prevention of fraudulent activity. This paper begins with a review of the definition of financial fraud, and identification of the different fraud types. Further, included is an examination of what motivates individuals to commit fraud, including an identification of some of the method in which people commit fraud. A discussion of the importance of the fraud triangle, and how rationalization contributes to fraud is a key area of focus. Finally, there is an examination of some controls that prevent and detect fraudulent behavior, including the value and importance of understanding the nature of fraud for

SUPPORT DOCUMENTS: One Page USPS Correspondence, One Pay Pal Correspondence, One Page Victoria`s Secret Correspondence, One Page Capital One Correspondence, One Page Linda Sapp`s Notes, One Page PSO Affidavit Of Identity Theft and One Page Photocopy of Linda Sapp`s Florida Driver License.

If there is no suspicion of fraud found during the interview are we authorized to continue investigating the case?

Saiz, Thomas J. "FRAUD IS A MAJOR SECURITY ISSUE FOR BUSINESSES." San Diego Business Journal, vol. 20, no. 15, 12 Apr. 1999, p. 19. Learning Resource Center, t7lrcproxy.iccms.edu:2129/sbrc/detail/detail?vid=0&sid=9b7a4376-1cc6-48ea-8008-4ece1e694af8%40sessionmgr4008&bdata=JnNpdGU9c2JyYy1saXZl##AN=1805123&db=b9h.

Albrecht, Steve W. 2014. Fraud Magazine. Iconic Fraud Triangle Endures: Metaphor Diagram Helps Everybody Understand Fraud. Accessed at the Fraud Magazine’s website (March 6, 2014): http://www.fraud-magazine.com/article.aspx?id=4294983342

These elements are interrelated in order for fraud to be committed in an organization and every corporate executives needs to understand this theory to enable them know how and why employees perpetrate fraud. Diagram below describe the element and how they are interrelated.

This research paper will explore the fraud at Tyco and focus primarily on accounting and auditing issues related to the fraud. One thing worth noting about this case is that fraudulent financial reporting was not at the core of the fraud, which was the case with majority other big frauds at the time, such as Enron and Waste Management. On the contrary, fraud consisted of misappropriation of assets, and fraudulent financial reporting came as a consequence of trying to hide misappropriation of assets and the use of corporate money for personal benefit.

Essentially, all three elements of the fraud triangle must be present for fraud to be committed: pressure, opportunity, and rationalization. Additionally, nine factors provided the atmosphere for the perfect fraud storm of 2000 through 2002. The nine factors included: economy, moral values, incentives, expectations, debt, accounting rules, auditor dependence, greed, and educator failures (Albrecht et al., 2012). When combined with the elements of the fraud triangle these factors enabled organizations such as Enron and WorldCom to commit the fraudulent activities that resulted in this perfect storm.

A business can not work out without an account system, which includes internal. Internal controls are used by companies to make sure financial information is accurate and valid. Strong internal controls are signs of a financially healthy company and protect the company’s integrity. Strong internal controls can also increase a company’s profitability. There are several types of internal controls that companies used to protect themselves such as: Segregation of duties, asset purchases, supervisor review, internal audits and adequate documents and records. This paper will discuss several topics from a case study about And the Fraud