Internal controls
An employee of JHT Holdings, Inc., a private trucking company, was responsible for resolving roadway accident claims under $25,000. The employee created fake accident claims and wrote settlement checks of between $5,000 and $25,000 to friends or acquaintances acting as phony “victims.” One friend recruited subordinates at his place of work to cash some of the checks. Beyond this, the JHT employee also recruited lawyers, whom he paid to represent both the trucking company and the fake victims in the bogus accident settlements. When the lawyers cashed the checks, they allegedly split the money with the corrupt JHT employee. This fraud went undetected for two years.
Why would it take so long to discover such a fraud?
Corporate Financial Accounting
Cornerstones of Financial Accounting
Accounting Information Systems
Financial & Managerial Accounting
Essentials of Business Communication (MindTap Course List)
Fundamentals of Financial Management (MindTap Course List)
Principles of Economics (MindTap Course List)
Foundations of Business (MindTap Course List)
Probability and Statistics for Engineering and the Sciences
Fundamentals of Financial Management, Concise Edition (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
Principles of Microeconomics (MindTap Course List)
STATISTICS F/BUSINESS+ECONOMICS-TEXT
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
College Accounting, Chapters 1-27
Financial Accounting
Management, Loose-Leaf Version
Essentials of Economics (MindTap Course List)
College Accounting (Book Only): A Career Approach
Managerial Accounting: The Cornerstone of Business Decision-Making
Intermediate Accounting: Reporting And Analysis
Accounting Information Systems
MKTG 12:STUDENT ED.-TEXT
Contemporary Marketing
Accounting (Text Only)
College Accounting (Book Only): A Career Approach
Financial Accounting
Financial & Managerial Accounting
Fundamentals of Financial Management (MindTap Course List)
Exploring Economics
Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)
Statistics for Business & Economics, Revised (MindTap Course List)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
Principles of Macroeconomics (MindTap Course List)
Pkg Acc Infor Systems MS VISIO CD
Corporate Financial Accounting
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Survey of Accounting (Accounting I)
Microeconomics
Cornerstones of Cost Management (Cornerstones Series)
Macroeconomics
Practical Management Science
Purchasing and Supply Chain Management
Economics For Today
Economics (MindTap Course List)
Managerial Accounting
Economics: Private and Public Choice (MindTap Course List)
Micro Economics For Today
Understanding Management (MindTap Course List)
MACROECONOMICS FOR TODAY
Microeconomics: Private and Public Choice (MindTap Course List)
Principles of Microeconomics
Macroeconomics: Private and Public Choice (MindTap Course List)