week 4 - acc5130_CH11_Fal10_3slides

Corruption involves arrangements between companys

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Corruption involves inappropriate/illegal arrangements between company’s purchasing agent a sales representative for a company’s vendors. Vendor’s rep. may induce the purchasing agent to buy goods that: Over-priced goods Inferior quality goods Unneeded goods Undelivered goods
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9/21/2010 7 Fraud Examiner’s Manual (Association of Certified Fraud Examiners) Identifies 4 types of these schemes: 1. Bribery 2. Conflict of interest 3 Economic extortion 3. 4. Illegal gratuities Expenditure Cycle Reporting AIS Integrated information Supplier performance Outstanding invoices Performance of expenditure cycle employees Number of POs processed by purchasing agent Number of invoices processed by A/P clerk Number of deliveries handled by receiving clerk Number of inventory moves by warehouse worker Inventory turnover Classification of inventory based on contribution to profitability ERP in Revenue and Expenditure Cycles Customer master data file Customer Sales Order Invoice Supplier/vendor master data file Supplier services expenditures
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