Payroll Fraud

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    Payroll

    Name: Nicoleta Lupu ID: 3140928 Assignment # 1 Memorandum Burnco Mfg. Inc Date: October 8th, 2012 To: Jeff Martin Controller Cc: J.P. Marker CM1 Marker From: Nicoleta Lupu Payroll Administrator Subject: Termination of employment checklist Following our conversation from last week, I noticed that all employees who has been terminated have no termination of employment record. In this memo I am proposing a reorganization of all employee’s files by adding

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    Fraud at Samone

    Fraud At Samone Enterprises Fraudulent activities were revealed at Samone Enterprises in which a payroll clerk, Cindy White, embezzled more than $194,000 in 5 years. Summary Samone Enterprises is a packaging products and services company. Cindy White worked for Samone for almost 10 years as a payroll clerk. White worked in a small department and was accountable for payroll for about 250 employees who worked different shifts 24 hours a day, 7 days a week. Since Samone used a clock-in system

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    Unearthing Pharma Fraud

    “Unearthing Pharma Fraud” article discusses the case of Rew Cook who is the sales manager at Good Health Inc. (GHI). The firm distributes pharmaceutical products and medical/dental equipment to pharmacies in France. An audit by the outsourced internal audit firm Alan & Blanche revealed fraudulent activity in Cook’s sales department. Cook took advantage of the internal control weaknesses present in GHI operations and was able to make a personal gain to the tune of $200,000. Cook’s main fraud was a result

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    The Business Research Process and Payroll

    The Business Research Process and Payroll The business research process is the generally outline systematic process by which a company gathers information to make an educated decision or take educated steps to maximize the company’s performance. Though they are truly just put in place to keep the general flow moving forward for business research, and some are omitted, performed more than once, and performed out of order, the basic process outline contains approximately eight steps: (1) Clarifying

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    Payroll Proposal

    AddressAddressPhoneEmail | Mr. John Doe, At Three Rivers Consulting Services, helping our clients improve their businesses is our highest priority. It is therefore our pleasure to submit to you our recommendations for improving your time-keeping and payroll system. We have separated our proposals into three sections: data collection/cost allocation and related controls, processing procedures and related controls, and disbursements. It is the opinion of our auditor team that if implemented these recommendations

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    Payroll Processing

    Tue, 12 FEB 2008 07:01:02 +0000 From: "Karina Ramirez" Subject: Payroll Info Here is the information you requested on our payroll processing: 1. All hourly employees (clerical and warehouse personnel) are paid biweekly (every 10 workdays) based on hours recorded on time cards maintained by a time clock machine. The time cards are approved by the supervisors. The supervisors take the approved time cards to the payroll department. Salaried employees also are paid biweekly based on a salary

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    Zzzz Best Fraud

    company sued him for fraud allegations. This landed Minkow in federal prison, with a sentence of 25 years for 57 counts of fraud. In the beginning, Minkow struggled to meet the basic expenses of his company. Two banks closed his business accounts because the California Law did not allow minors to sign binding contracts, including checks. He began to receive several customer complaints as well as the demand for payment from suppliers. At times, Minkow also found it hard to meet payroll. Because of the

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    Payroll

    abroad. It is fully exempt from tax (ii) Allowance to High Court and Supreme Court Judges of whatever nature are exempt from tax. (iii) Allowances from UNO organization to its employees are fully exempt from tax. Payroll process Payroll is defined as a method of administrating employees’ salaries in the organizations. The process consists of calculation of salaries and tax deductions of the employees, administrating the retirement benefits and disbursements of salaries to

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    Payroll System Draft

    A PROPOSED COMPUTERIZED PAYROLL SYSTEM JOSEPH ARJAY S. SISON TECHNOLOGICAL INSTITUTE OF THE PHILIPPINES Bachelor of Science in Information Technology System Analysis and Design-SAD 003 October 2012 Part 1 – Summary of Proposal System Title: “Payroll System for BLV Courier Express” Proponents of the System Name: Joseph Arjay S. Sison Adress: 16 3rd Street, Felicidad Village III, Banaba, San Mateo, Rizal Contact Details: 997-1985/0922-861-3937 Description of the System

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    Payroll

    Topic Eight: Direct Deposit and Payroll Cards Course Manual for Payroll Practice and Management Online Series 2010 All rights reserved Author: Vicki M. Lambert, CPP Vicki M. Lambert, LLC Introduction Direct deposit is an application of the system known as Electronic Funds Transfer (EFT). This is a system by which commercial payments are made electronically instead of using paper instruments such as checks or drafts. Direct deposit of an employee's wages is extremely popular among employers

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    Payroll Fraud

    Running head: Article Review Shawn Detamore January 29, 2012 Payroll fraud schemes happen when an employee generates overcompensation for themselves. There are three types of payroll fraud schemes; ghost employees, bonus and commission schemes and falsified hours and salary (Shields, 2009). This type of fraud accounts for 17% of fraud that is committed in organizations (Shields, 2009). Back in May of 2009, a payroll manager and a retired employee of the Detroit Public School system worked

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    Case-Study (Payroll Program)

    Case Study (Payroll Program) Ian Strayer Strayer University Professor Farzan Soroushi Cis 210 February21st, 2013 Abstract Building a payroll program for a large organization with offices spread across the United States has many changelings and most be done in a particular way. Thus having the right application architecture is important where the design is concerned, because the company has one large data center that each office connects to via a wide area network (WAN). Hence the appropriate

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    Types of Fraud

    Types of Fraud This paper will discuss fraud as well as differentiate between the different types of fraud. It will explore the reasons why people commit fraud, the types of people that are committing fraud, and the motives for people to commit fraud. Second, this paper will also discuss the fraud triangle along with the importance. Third, it will discuss some of the controls that prevent and detect fraudulent behavior. Finally, an exploration of whether rationalization contributes to fraud.

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    Fraud

    What is a Fraud? A fraud is when one party deceives or takes unfair advantage of another. A fraud includes any act, omission, or concealment, involving a breach of legal or equitable duty or trust, which results in disadvantage or injury to another. In a court of law it is necessary to prove that a false representation was made as a statement of fact, that was made with the intent to deceive and to induce the other party to act upon it. It must be proven that the person who has been defrauded

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    Fraud

    for example. These are the security issues that clients and companies have to face as online investing, banking, and account management become more the norm. Identity theft, international money laundering, theft of business trade secrets, auction fraud, web site spoofing, and cyber-extortion are all schemes that were carried out in 2002 and involved at least 125,000 victims and more than $100 million. And these crimes didn’t make the Computer Security Institute’s Computer Crime and Security Survey

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    Fraud

    formulated laws that are designed to prevent liability and unethical performances in the business sector. The Board of Directors of the company in conjunction with their audit engagement team should act swiftly in responding to fraud allegations by addressing key areas of fraud. The first step is gathering all the relevant information that relates to the case. The actions and behavioral attitudes of the top management officials should be looked into. It entails their responsibilities to matters relating

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    Fraud

    in the “The CPA Journal”, “many studies suggest fraud is more likely to occur when someone has an incentive (pressure) to commit fraud, weak controls or oversight provide an opportunity for the person to commit fraud, and the person can rationalize the fraudulent behavior (attitude).” This is known as the fraud triangle. There are two types of fraud: fraudulent financial reporting and misappropriation of assets. For the first one, this kind of frauds came from the top management. Most of the pressures

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    Fraud

    Fraud  Is any purposeful communication that deceives, manipulates or conceals facts in order to create a false impression?  It is a crime and conviction may result in fines, imprisonment or both.  The most common fraudulent activities employees report about their coworkers are stealing office supplies or shoplifting, claiming to have a worked extra hours and stealing money or products. Accounting Fraud  Usually involves a corporation financial reports in which companies provide important

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    Fraud

    Fraud atas Kajian Hukum Kecurangan atau fraud adalah suatu konsep hukum dengan terminology dimana harus ditentukan oleh seorang ahli hukum. Namun, fraud dikategorikan sebagai tindak kejahatan/kriminologi di Negara Indonesia. Hal tersebut banyak kita lihat dalam undang-undang tindak pidana korupsi yang dimana unsur-unsur tersebut tergolong dalam pasal 2,3 dan 13 UU 31 tahun 2009 yo UU No. 3/71 yo UU no 24/Prp/60. Unsur-unsur yang ada dalam pasal 2 adalah 1. perbuatan melawan hukum 2. memperkaya

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    Fraud Essay

    Occupational Fraud and Abuse the perpetrator committed fraud by an asset misappropriation scheme in which the perpetrator steals or misuses an organization’s resources. Asset misappropriation is broken down into some sub-schemes like skimming, cash larceny, billing, expense reimbursement, check tampering. She was a well-trusted employee and even had previously caught other employees involved in embezzlement and frauds. So there was no reason to expect her of committing a fraud, costing the

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    Fraud and Defalcations

    Case 3: Fraud and Defalcations Defalcation 1: a. The auditor would have identified the risk if the auditor had reviewed both the financial results and operational procedures. This could have been detected as having a significant amount of risk involved. b. The auditor should have gathered and evaluated audit evidence as well as evaluated the quality of the company’s controls that it takes to mitigate fraud. Most auditors should have realized this risk involved, having the treasurer in

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    Unit 11 Payroll

    Payroll Administration Unit 11 – Basic Payroll Accounting Unit 11 Learning Outcomes Describe the interaction with an accounting department Demonstrate a basic journal entry Set up an account Summarize amounts paid Introduction Every business must keep records showing transactions relating to goods or services rendered and the costs incurred to run the business, known as expenses. This process is referred to as bookkeeping, which is simply entering each transaction that affects

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    Integrated Fraud Management

    Integrated Fraud Management Actimize Integrated Fraud Management solutions deliver real-time, customer-centric fraud prevention that supports a holistic, enterprise-wide fraud management program. Fully integrated channel and line-of-business specific detection solutions that seamlessly share data for true cross-channel fraud management Advanced and comprehensive set of fraud framework services that provide detection, decisioning, and operations capabilities Used by top global

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    Fraud Triangle

    contributed to the deficit. In this memorandum, I will discuss Violet Bay School District’s control systems. I will evaluate the control system using the framework in COSO framework and identify control mechanisms. I will also address the components of the fraud triangle that were present at VBSD. EVALUATION OF CONTROL SYSTEM   VBSD does not create a good control environment with commitment and ethical values well demonstrated. Otherwise, Spigot, the superintendent, acts as having a “dictatorial management

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    Fraud

    Olympus Accounting Fraud ACTG 6100 Professor Mark Jobe Feb. 18, 2014 Inhwa Kim M01243678 The Olympus has a pretty strong position in the camera market. This company is popular because they made the world’s first DSLR (Digital Single-Lens Reflex). Many camera users who are located in all around the world prefer the Olympus. Also, the Olympus is popular because the company made the medical devices, endoscope which is able to watch inside the organ of human body. The Olympus, which

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    Outsourcing Payroll and Tax Services

    Research for Outsourcing Payroll and Tax Services 03/15/2014 Table of Contents Project Scope 4 Requirements 4 Procurement Advantages 5 Savings Analysis 5 Procurement Disadvantages 6 Risks 6 Scoring Matrix for Procurement Proposals 8 Contractual Analysis 12 Considerations 12 Proposal Information 12 Legal Compliance Subjects 12 Proposal Questionnaire 12 Instructions to Proposers 13 Project Scope Pro Staffing research of outsourcing payroll and tax responsibilities

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    Payroll

    We are creating a payroll editor / Time PC at Miami Valley hospital system to better help employees with vacation time, trades with in pay-period. Our goal is to develop a system that is “user-friendly” to our HR employees. The information provided will assist the entire payroll department. Thank you for your time and assistance. We will appreciate all your input. * What do you think is the major reason for payroll expansion at Miami valley system? * Expansion of facility (Miami

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    The Culpability of Accounting Fraud

    The Culpability of Accounting Fraud: Auditors, Managers or Both ACC 503 – Accounting for Management Abstract The purpose of this term paper is to provide insight to the reader about accounting fraud and on whom the responsibility lays whenever there is an allegation of accounting misconduct. Based on the rash of accounting fraud by major respectable corporations in recent years, no one organization is immune to accounting fraud and it is prevalent in the Federal

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    Payroll Budget Implecations

    nation’s list of priorities. Taxpayers will benefit from R9,25 billion in personal income tax relief in the new tax year, though this relief hardly caters for the effects of inflation, says Madelein van der Watt, Development Manager at Sage Pastel Payroll & HR. 40% of the tax relief was allocated to those who earn up to R250,000 per annum, meaning individuals earning more than R250,000 per annum will receive a little less of the allocated tax relief pool. Personal income tax brackets and rebates

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    Fraud

    discoveries reveal their hunch was right, and they are able to stop the fraud. This case can be used in a classroom or seminar setting to: ● Discuss the Fraud Triangle and the importance of symptoms ● Discuss accounting symptoms of fraud ● Perform financial statement analyses to determine if fraud is suspected ● Identify and test a fraud hypothesis ● Analyze an interview ● Analyze an interrogation ● Draw conclusions and prepare fraud reports The case requirements include: 1. Perform horizontal and vertical

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    Corporate Fraud and the Role of Auditors

    CORPORATE FRAUD & THE ROLES OF AUDITOR (BANGLADESH PERSPECTIVE) Submitted To: Tahmina Ahmed Lecturer Department Of Accounting And Information Systems University Of Dhaka. Submitted By: Group No. 02 ID 18003 18051 18053 18073 18089 18200 NAME Safiqur Rahman Mahadin Anik Mahmudul Islam Arnab Kumar Chakrabartty Abdullah Al Noman Namrata Chakma Date of Submission: November 11, 2014. 1|Page This Report Includes The Following Contents Chapter No. Contents Page No. 01.Introduction 1.1 1.2 1

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    Fraud

    FRAUD: FRAUDULENT ACTIVITIES A REVIEW OF THE CRIMES Introduction Investigations into fraudulent activities have brought much attention to Federal Government spending. The impact of fraud and the corruption caused by internal parties or external entities targeting government funds can be substantiated. For example, the Association of Certified Fraud Examiners (ACFE) in a 2012 Report to the Nations on Occupational Fraud and Abuse projected a global fraud loss of more than $3.5 trillion per

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    Payroll System

    success and capacity to give services. Payroll System is one of the fundamental needs of a company. Payroll is the sum of all financial records of salaries for an employee, wages, bonuses and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time. Payroll plays a major role in a company for several reasons. From an accounting point of view, payroll is crucial because payroll and payroll taxes considerably affect the net income

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    Payroll

    Excel Payroll Program About the Program This is a DIY Excel payroll program. No payroll fees, no payroll charges, and no monthly fees! It is running in Microsoft Excel. It is easy, simple, accurate, and reliable! This Excel Payroll Program Includes EVERYTHING you need! This Excel Payroll Application does all for you: * Keeps payroll records and payroll registers * Prints payroll checks and generates payroll accounting entries * Generates accrual vacation and used vacation

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    The Need for Payroll and Personnel Records

    Payroll and Business Tax Accounting Chapter 1 – The Need for Payroll and Personnel Records Fair Labor Standards Act (FLSA) or Federal Wage and Hour Law – A federal statute of the United States that was established in 1932 by Senator Hugo Black. This statute “contains provisions and standards concerning minimum wage.” It also covers equal opportunity requirements so that everyone is paid a fair wage regardless of race or sex. It covers overtime and holiday pay, record keeping, and child labor

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    Small Business Accounting Fraud

    presentation is to inform interested individuals about accounting fraud in small business and narrowing the topic to two main factors that allow the fraud to take place. The presentation will be specifically informational in nature. Once I have finished my presentation, the audience will have a clear understanding of my central idea, which is why limited staff and family trust are reasons that small businesses are victims of accounting fraud. The ideal audience for my presentation would be a meeting

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    Fraud Additional

    price above the competitive level. * Consumers expect that promises will be fulfilled through the exchange process. * Buyer/seller disagreement (i.e. products not meeting expectations) can result in fraudulent activities. * Consumer fraud results from intentional deception to derive unfair economic advantage from an organization. * Shoplifting (shrinkage) * Collusion (secret cooperation) * Duplicity (double-dealing) * Guile (deceipt) * Collusion in Sales

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    Fraud Fraud

    The Anonymous Caller Recognizing It's a Fraud and Evaluating What to Do[1] Learning Objectives • After completing and discussing this case you should be able to • Appreciate real-world pressures for meeting financial expectations • Distinguish financial statement fraud from aggressive accounting • Identify alternative actions when confronted with suspected financial statement fraud • Develop arguments to resist or prevent inappropriate accounting techniques

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    Fraud

    third, it is to recommend the possible actions and preventive measures to curb these scandals. 1. Introduction In the recent years, the public and business community have been surprised with the exposure of many corporate scandals and accounting fraud by the managers of the company. It disappoints many stakeholders as after the financial crisis in 1997, many efforts have been initiated and implemented to strengthen the business control and foundation of the company. One of the important lessons

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    Accounting Fraud

    Accounting Fraud Name: Institution: Course: Date: Accounting fraud Accounting fraud is an intentional manipulation of the financial records so that it looks improved compare to the previous ones. The fraud involves the employee in a business organization embezzling or misappropriating the business resources. Those holding higher positions in financial and accounting offices are the major promoter of the accounting fraud. There has been reported reports of the collapse of large companies

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    Payroll

    COMPUTERIZED PERSONNEL PAYROLL REPORT SYSTEM (CPPRS) Presented to the Faculty of the Computer Science Department Palawan Polytechnic College Incorporated Puerto Princesa City In Partial Fulfillment of the Requirements for the degree of Bachelor of Science in Computer Science Victor C. Mahayahay 2012 ABSTRACT Mahayahay, Victor C., Computerized Personnel Payroll System, Bachelor of Science in Computer Science

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    Fraud

    A special CBI court on Thursday sentenced B Ramalinga Raju, his two brothers and seven others to seven years in prison in the Satyam fraud case. The court also imposed a fine of Rs 5 crore on Ramalinga Raju, the Satyam Computer Services Ltd's founder and former chairman, and his brother B Rama Raju and Rs 20-25 lakh each on the remaining accused. HT presents a lowdown of the country's biggest-ever corporate accounting scandal . What is the Satyam scam about? It is about corporate governance

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    Banking Frauds

    Banking Frauds INTRODUCTION With the advances in information technology, most banks in India have migrated to core banking platforms and have moved transactions to payment cards (debit and credit cards) and to electronic channels like ATMs, Internet Banking and Mobile Banking. Fraudsters have also followed customers into this space. RBI had, per se, not defined the term ‘fraud’ in its guidelines on Frauds. A definition of fraud was, however, suggested in the context of electronic banking in

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    The Fraud Triangle

    The Fraud Triangle Abstract In 2002 SAS No. 99, Consideration of Fraud in a Financial Statement Audit describes the difference between material misstatements due to errors and intentional fraud and defines two types of intentional fraud: fraudulent financial reporting and misappropriation of assets. SAS No. 99 also introduced D. R. Cressey’s theory of the fraud triangle which is so named because it consists of three conditions that are generally present when fraud occurs: incentive/pressure

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    Payroll Related Study

    stated, labor productivity measures the amount (or value) of output generated per hour worked. Why does it matter? Greater labor productivity enables firms to produce a given amount of goods or services with a smaller number of labor hours. And, since payroll cost is related to the number of hours they use, this helps firms control their costs, making their enterprises more profitable.  Wages are not the correct measure the cost of labor to a firm. In economics, it doesn’t just focus on the costs

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    Fraud

    Fraud is a serious problem for most businesses today and often technology compounds the problem. In addition, the role of the independent auditor in the detection of fraud is often questioned. (http://www.swlearning.com/accounting/hall/ais_4e/study_notes/ch03.pdf) Fraud is dishonest activity causing actual or potential financial loss to any person or entity including theft of money or other property by employees or persons and where deception is used at the time, immediately before or immediately

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    Anti-Fraud

    The IUCN Anti-Fraud Policy February 2008 – Version 1.0 Office of the Director General The World Conservation Union Rue Mauverney 28 1196 Gland, Switzerland Tel: +41 22 999 0296 Fax: +41 22 999 0029 www.iucn.org Policy Version Control and Document History: The IUCN Anti-Fraud Policy Title Version Source language Published in French under the title Published in Spanish under the title Responsible Unit Developed by Subject (Taxonomy) Date approved Approved by Applicable to Purpose IUCN Anti

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    Fraud

    Fraud is defined as the, “intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right” (Fraud, n.d.). However, not all fraud is intentional. According to Kranacher, Riley & Wells (2011), there are four elements to fraud: a material false statement, knowledge that the statement was false when it was spoken, reliance on the false statement by the victim, and damages resulting from the victim’s reliance on the false statements (pp. 2-3)

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    Fraud

    Donald R Cressey hypothesis became known as the “fraud triangle.” He studied the reasons behind the fraud. What led them to commit the fraud. His fraud triangle can explain of occupational offenders but not all. According to Cressey: “The first point represents a perceived non-sharable financial need which fell into six basic categories: violation of ascribed obligations, problems resulting from personal failure, business reversals, physical isolation, status gaining, and employer – employee

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    Fraud

    Veronica Cantu Accounting Information Systems Written Assignment –Week 2 Gary Foster, a former vice-president for Citigroup, pleaded guilty to one count of bank fraud in Brooklyn, New York. Foster embezzled 22.9 million from the bank in a period of eight years, between September, 2003 and June, 2011. The fraud was detected after an internal treasury department audit. Foster joined Citigroup in 1999 after graduating from Rutgers University with an accounting degree. He climbed the corporate

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