Question

You have recently started working at a landscaping company. As you are familiarizing yourself with their...

You have recently started working at a landscaping company. As you are familiarizing yourself with their Quickbooks accounting system, you notice that one of your friends is a contractor for this company. You remember him bragging about how he submits false invoices to the companies he contracts for and now you're worried that he is doing the same to your new company. What would you do in this situation?

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Answer #1

As a professional, in a situation when there are chances of fraud, I will take the following steps:-

1) I will alarm my employer regarding the same and will ask him to take care of it while transacting with the person.

2) I will check all the invoices in detail when invoices are from the person.

3) I will ask the Internal Control team to additionally put some more controls on the person.

4) I will ask the Accounts payable team to check the invoices thoroughly while making payments to the person.

5) I will ask the credit team to properly check the credit of the person whom with they are doing business.

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