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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

What are four major types of employee fraud schemes?

Summary Introduction

To explain: The four major types of employee fraud schemes.

Introduction:

Human resource (HR) management and Payroll process:

Human resource management is about the basic human management functions in an organization and its associated activities. It also speaks about the relationship between human resource management activities and the payroll process. It also depicts the importance of HR activities in the decision making of the top management.

Explanation

The four major types of employee fraud schemes:

Ghost employees:

These are an employee who is not currently working in the organization but receives paychecks. These may be employees who previously worked here or might be fabricated employees. This can happen when the employer/master data is corrupted or fabricated.

Falsified hours and salary:

Employees showing more hours than they actually worked. This can be in the form of arriving late and leaving early, taking excessive lunchtime break and others. It is a failure in the employee master control file...

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