Describe two control techniques to prevent or detect this fraud scheme.
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Leon Jones worked in the warehouse of a large building supply company. One day he unexpected left
for Fiji, never to return. His supervisor seized the opportunity to continue submit time cards for Leon
to the payroll department. Each week, as part of his normal duties, the supervisor received the
employee pay cheques from payroll and distribute them to the workers on his shift. As Leon was not
present to collect his pay cheque, the supervisor forged Leon’s name and cashed it.
Required:
Describe two control techniques to prevent or detect this fraud scheme.
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- Leon Jones worked in the warehouse of a large building supply company. One day he unexpected left for Fiji, never to return. His supervisor seized the opportunity to continue to submit time cards for Leon to the payroll department. Each week, as part of his normal duties, the supervisor received the employee paycheques from payroll and distribute them to the workers on his shift. As Leon was not present to collect his paycheque, the supervisor forged Leon’s name and cashed it. Required:Describe two control techniques to prevent or detect this fraud scheme.john smith worked in a stock yard of a large building supply company .one day he unexpectedly left for california never to return .his foreman seizeid the opportunity to continue to submit time cards for john to payroll department .each week ,as apart of his normal duties , the foreman received the employe pay check from payroll and distributed them to the workers on hs shify, because john was not presented to collect his pay check ,the fore man forged johns name and cashed it . required describe two control techiniques or dected this fraud scheme.A. AdamSmith worked in the stockyard of a large building supply One day heunexpectedly and without notice left for California never to return. His foreman seized the opportunity to continue to submit time cards for Adam to the payroll department. Each week, as part of his normal duties, the foreman received the employee paychecks from payroll and distributed them to the workers on his shift. Since Adam Smith was not present to collect his paycheck, the foreman forged Adam’s name and cashed it. Required: Describe two control techniques to prevent or detect this fraud scheme. B. Gaboner Co. maintains a large fleet of automobiles, trucks, and vans for use by their service and sales force. Supervisors in the various departments maintain the fixed asset records for these vehicles, including routine maintenance, repairs, and mileage information. This information is periodically submitted to the fixed asset department, which uses it to calculate depreciation on the vehicle To assure a…
- Adam Smith worked in the stockyard of a large building supply company. One day he unexpectedly and without notice left for California never to return. His foreman seized the opportunity to continue to submit time cards for Adam to the payroll department. Each week, as part of his normal duties, the foreman received the employee paychecks from payroll and distributef the to the worker's on his shift. Sine Adam Smith was not present to collect his paychecks, the foreman forged Adam's name and cashed it. Describe two contro techniqued to prevent or detect this frayd schemeJohn Smith worked in the stockyard of a large building supply company. One day he unexpectedly left for California, never to return. His foreman seized the opportunity to continue to submit time cards for John to the payroll department. Each week, as part of his normal duties, the foreman received the employee paychecks from payroll and distributed them to the workers on his shift. Because John was not present to collect his paycheck, the foreman forged John’s name and cashed it.Describe two control techniques to prevent or detect this fraud scheme.When employees arrive for work at Harlan Manufacturing, they punch their time cards at a time clock in an unsupervised area. Mary, the time-keeping clerk, tries to keep track of the employees but is often distracted by other things. Every Friday, she submits the time cards to Marsha, the payroll clerk.Marsha copies all time cards and files the copies in the employees’ folders. She uses employee wage records and tax tables to calculate the net pay for each employee. She sends a copy of the payroll register to the accounts payable department and files a copy in the payroll department. She updates the employee records with the earnings and prepares the payroll summary and sends it to the cash disbursements department along with the paychecks.After receiving the payroll summary, John, an accounts payable clerk, authorizes the cash disbursements department to prepare paychecks. John then updates the cash disbursements journal. The treasurer signs the paychecks and gives them to the…
- Ken, a salaried employee, was terminated from his company in April of this year. Business had been slow since the beginning of the year, and each of the operating plants had laid off workers. Ken’s dismissal was processed through the Human Resources Department, but the information was not relayed to the corporate payroll office. As had been the policy, checks for workers at remote sites were mailed to the employees. The mailing of Ken’s checks continued for the next four weekly paydays. It wasn’t until the monthly payroll reports were sent to Ken’s supervisor that the error was detected. Ken refused to return the four extra checks. Questions to be Answered: 1) What actions should the company take, if any, against Ken? 2) What actions should the company take internally to ensure a situation like this does not happen again?Clara Hudnall is Conosis Incorporated’s payroll accountant. During a casual conversation with co-workers, she learns that Thorben Vinkovic, a co-worker, is deliberately overstating the number of hours worked during each pay period because of a personal economic situation. Which ethical guidelines pertain to this situation?