Give this scenario a letter grade based on risk management through internal controls

SUPERIOR-PAPERS.COM essay writing company is the ideal place for homework help. If you are looking for affordable, custom-written, high-quality and non-plagiarized papers, your student life just became easier with us. Click the button below to place your order.


Order a Similar Paper Order a Different Paper

Simon Blank Construction Company has two divisions. The president (Chris Simon) manages the roofing division. Simon delegated authority and responsibility for management of the modular manufacturing division to John Gault. The company has a competent accounting staff and a full-time internal auditor. Unlike Simon’s procedures, however, Gault and his secretary handle all bids for manufacturing jobs, purchase all materials without competitive bids, control the physical inventory of materials, contract for shipping by truck, supervise the construction activity, bill the customer when the job is finished, approve all bid changes, and collect the payment from the customer. With Simon’s tacit approval, Gault has asked the internal auditor not to interfere with his busy schedule.

Give this scenario a letter grade based on risk management through internal controls and identify two potential frauds that could occur based on the current structure. Suggest at least one improvement to reduce the risk of fraud.

Writerbay.net

Got stuck with a writing task? We can help! Use our paper writing service to score better grades and meet your deadlines.

Get 15% discount for your first order


Order a Similar Paper Order a Different Paper
Writerbay.net