Internal Accountant's Report To Management

Internal Accountants Report to Management

Internal Accountants Report to Management
This paper concentrates in preparing a subject for the company for an upcoming government expurgate bid for management to decide the necessity of performing a full financial office review anterior to the bid. The report consists of providing supporting information for a full financial status review that includes four sections:
Section I : The Impact of occupational hoax and abuse on the company
Section II: U.S. governmental oversight of accounting drool and abuse and its affect on the company
Section III: Potential corruption schemes to be apprised of within the company
Section IV: Recommendation of types of accounting say to support the financial status review

The impact of occupational fraud and abuse on the company
Occupational fraud and abuse involves a wide range of misconducts by executives, employees, and managers that affect many organizations. coarse violations that occur inside of organizations whitethorn include asset misappropriation, double-faced statement, corruptions, using company property for personal benefit, and payroll and wander time abuse. Asset misappropriation is imagineed to be the most parkland and least expensive of the violation with a median embody of $80,000.



Corruption occurs in the purchasing function when a purchasing factor gets involved with a bribe or kickback from another party, in particular a vendor, and its cost is estimated as 530,000 per year (ACFE2002). The least common, barely the most expensive occupational fraud consist of the two-faced financial statements. Estimation for the cost of fraud and abuse may not be realistic considering that not all fraud cases are reported and discovered by the organization. The company should consider a full financial status review prior to the bid to avoid the existence of those issues that can have a negative impact on the company prior to the bid.

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