ACC541 Week 4 DQ Ethical

ACC541 Week 4 DQ Ethical - Regulations have mandated that...

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Most major publicized fraud scandals are committed by upper level management in collusion with employees of organizations. Because the act of fraudulent behavior is intentional in deceiving others, organizations themselves should take the responsibility to develop a "no fraud tolerance" policy and a fraud risk management program. Regulations such as the US Foreign Corrupt Practices Act of 1977 (FCPA) and the US Sarbanes-Oxley Act of 2002, have placed the increased accountability of internal controls and fraud risk management with the management of an organization.
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Unformatted text preview: Regulations have mandated that organizations detail at all levels their internal controls and fraud risk management policies, how the organization identifies fraud risks, how the organization plans to prevent or better detect fraud, how the organization will investigate detected fraud, and how the organization will perform corrective action for detected fraud. Ethical training at levels can aid organizations in learning principles and theories of fraud risk management that will help deter fraud within their organization....
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This note was uploaded on 07/15/2011 for the course ACC 541 taught by Professor Chrismoody during the Spring '11 term at University of Phoenix.

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