Fraud - Unit 10

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I'm currently working on the fraud prevention part of my unit 10 project.

I was wondering if anyone can think of the areas i need to cover as my mind seems to have gone completely blank. I dont realy know what kind of fraud there is, having never thought of stealing from anyone in my life!

My project is about a partly computerised book-keeping system going fully computerised. It had a manual petty cashbook and all they entered on their computer were the sales and purchase invoices for the VAT. They have now moved onto sage line 50 accountant plus, doing as much as they can.

Any help is appreciated, even ideas thrown into the air will help, i'm sure!

Thanks

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Fraud - Unit 10

    I did my project on cash handling for manual accounts. Areas of fraud I covered were division of duties (how many people have access to the petty cash tin and records) and levels of authorisation (are you going to set an upper limit where only the boss can verify and authorise payment).

    Hope it's of some help.

    Jackie
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Fraud - Unit 10

    If the accounts are now going fully computerised what would stop someone setting themselves up as a bogus supplier and submitting bogus invoices.

    If payments are going to be automated as well - say BACS what prevents someone putting their own bank details in and paying themselves.

    Therefore, think about putting a procedure in place where new suppliers need to be verified by someone before being entered on the system and any automated payments have to be verified etc.

    Hope this helps.

    Susan

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