Question

Can you please explain the reasons why accounts payable schemes are the most common type of...

Can you please explain the reasons why accounts payable schemes are the most common type of fraud committed by employees?
I need to meet a 175 word count for my study guide. Thank you.

Homework Answers

Answer #1

The following are the reasons for why employees choose accounts payable schemes to commit frauds,

  1. It is the most easiest way that stands for an employee as mostly the cash that goes out of the company would be through accounts payable only.
  2. As there are many transactions it will be very easy for the one's committing fraud to hide that fraud.
  3. Almost it is impossible to identify a fraudulent accounts payable transaction among many legitimate transactions.
  4. Producing fake bills will be very easy for employees as they all are very aware about the regular transactions of the company. (Fake billing is the most used accounts payable fraud).
  5. Employees with false interest towards the company may collude with vendors to make fake payments towards their accounts.
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