Improve Internal Controls and Prevent Fraud in your Small to Medium Sized Business There aren’t too many “universal truths” in this world – but - I’ll go out on a limb and say this - everyone hates getting ripped off or taken advantage of. As the CEO‚ President or owner of a small to medium-sized business you are more vulnerable to being taken advantage of by unscrupulous employees and vendors. There are several reasons for this‚ including; It is harder for smaller companies to have excellent
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Driving Can Be Prevented Drunk drivers are a major safety threat to themselves and others. Every day in America‚ 27 people die as a result of drunk driving crashes according to the National Highway Traffic Safety Administration (FARS‚ 2012). In addition‚ over 1.2 millions drivers were arrested in 2011 for driving under the influence of alcohol or narcotics. (Federal Bureau of Investigation‚ “Crime in the United States: 2011”) Statistics however cannot reflect the pain and loss suffered by drunk driving
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Theft in the Workplace The Company I was working for‚ at the time‚ had a firm policy regarding cases of theft of company property. As equipment becomes old and outdated new equipment is purchased while the old equipment is placed on a table to be sold by bid each month. One day I see a valued employee (bob) who is 2 months away from retirement slip an electric drill from the table and put it in his car before the day of the sale. From an ethical standpoint‚ I know stealing and theft is wrong
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Identity theft affects over 15 million residents in the United states with an estimated loss of over 50 billion dollars each year according to Rob Douglas an identity theft and scam expert. It has a history of plaguing society with various social‚ economical‚ and financial problems that continues to persist individuals and businesses alike. Identity theft is defined as “The fraudulent acquisition and use of a person’s private identifying information‚ usually for financial gain”. Social security number
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With the growth of social networks‚ artists have developed their own online communities where they can share their artwork or provide tutorials and critique for all forms of art. However‚ an unfortunate phenomenon has been increasing rapidly as art communities grow. The phenomenon is known as art theft‚ where individuals either plagiarize‚ trace‚ or copy another person’s artwork and claim it as their own creation. Luckily‚ services are provided within online art communities and certain techniques
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of Maryland‚ writes in their article entitled “Identity Theft: Coordination Can Defeat the Modern-Day “King” and “Duke”; that the scope of identity theft is it is “twice as prevalent among the wealthiest households when compared with the poorest‚ and over fifty percent more likely among the young (those between the ages of 16 and 24) than seniors (aged 65 or above).” Their conclusions were the fact that “approximately half of identity theft victims had existing credit card accounts or other financial
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1. At 2:50 pm on November 9th‚ 2015‚ we got a call about a theft from Scott Carpenter. This was at 123 Main Street and the theft was of his car‚ a cherry red 1967 Ford Mustang licence plate JEP-097. Mark and I arrived and Scott invited us in and told us that he was calling around to find his car. Scott came home after his night-shift and the Mustang that he parked along the side (front) of his house was missing. Cathy walked in shortly after we arrived and she was gathering her belongings. She stated
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Designing Internal Control System To Minimize Fraud And This paper gives an introduction to Microfinance Institutions (MFIs) informal financial service delivery mechanism which are not under any regulatory framework like the formal sector. So‚ there is a necessity to internalize a built-in internal control system through self-regulation to mitigate exposure to risk in MFI. In 2.0 sound and reliable management system for MFIs through self-regulation are discussed. Section 3.0 discussed under internal
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Identity Theft It has become a new tradition in my immediate family to take cruises to different places in July. This year was going to be the best for me since we were heading to San Juan‚ Puerto Rico‚ St. Thomas‚ St. Martin and Nassau. We had all our excursions picked out and for once everybody was going to do something that only I wanted to do. We were going to take a walking tour of Old San Juan and see all the forts and cathedrals that were built when San Juan came about‚ but a problem that
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tape)‚ cash register 3.2 It is usually not sufficient to use just one documentation tool. Every tool documents a uniquely important aspect of a given information system. For example‚ system flowcharts are employed to understand physical system activities including inputs‚ outputs‚ and processing. In contrast‚ data flow diagrams provide a graphic picture of the logical flow of data within an organization. Each alternative is appropriate for a given aspect of the system. As a result‚ they work
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