ACC 375 Week 3

Individual : Ethics Situation 1: Fraudulent Schemes Report

Your accounting firm has been hired to consult with a small company regarding fraudulent schemes. The company has experienced fraudulent behavior and recently terminated a few employees as a result of unethical behavior, including the theft of cash. They are looking for information regarding common fraudulent schemes surrounding an organizations inflow of customer payments and outflow of funds. They have indicated that, though they do not have a large staff, they are interested in developing more effective internal controls to safeguard against future occurrences.

Write a 1,050- to 1,400-word report that provides a background of common fraudulent schemes.

Research using your textbooks and at least three outside sources.

Include the following:

Analysis of the following types of fraudulent acts: skimming, cash larceny and billing schemes

A brief example of a company that has had similar issues but has been able to continue after the result of a fraudulent act

Discussion of how ethical theory and real-world business practices are sometimes different

A recommendation to the company in order to establish some internal controls surrounding their cash receipts and cash disbursements

Format your report consistent with APA guidelines. Do not use this as your own. All my work is put through CWE. You will get caught cheating. I received full credit for this assignment

Discussion Questions

Review the case study Just Because its Legal, Is it Ethical in Perspectives in Business Ethics. How might bankruptcy law provide an outlet for unethical behavior?

Consider the topic of air pollution. Discuss whether a business should go beyond what the law requires. How might a company be rewarded or punished for making an ethical or unethical decision?

Review the case study It Seems Right in Theory but Does It Work in Practice? in Perspectives in Business Ethics. How is ethical theory applied in practice?

Review the case study Where and Why Did Business Ethicists Go Wrong? The Case of Dow Corning Corporation in Perspectives in Business ethics. What are some ethical and legal issues Dow Corning faced in considering filing for bankruptcy?

What is meant by the team skimming? How can a company detect if skimming is occurring? What is meant by the term lapping? How might an employee use lapping to conceal skimming?

What are the three types of billing schemes? What type of proactive test is used to detect these schemes?