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Tallahassee bean counter tops essay

An investigation with the financial functionality and condition of Tallahassee Bean Counters (“TBC”) was carried out for the period May through September 2013 for the purpose of showing you any observations or perhaps areas that want additional concern. This evaluation was based on a limited understanding of the business plus the control environment. Furthermore, lots of the detailed assessment procedures that generally can be performed as part of a complete forensic investigation haven�t been done due to my personal not having total access to most financial files and records.

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Please get in touch should you make a decision a more formal investigation is warranted based upon the conclusions included in this research. Our studies include the following:

✓ The overall control environment has not been founded to prevent, find, or prevent fraudulent actions including monetary reporting;

✓ Ghost (fictitious) employees had been created and payments have already been made to these types of fictitious workers;

✓ Profits from solution sales tend not to agree to assisting documentation;

✓ Bank deposit transactions are certainly not properly validated;

✓ Products on hand is controlled by misappropriation.

Potential Suspects and Red Flags

Based on my overview of personnel documents, interviews with co-workers, spouses or ex – spouses, and prior employers, three persons – Phil cannella Ackers, Ben Hill, and Terri Hughes – had been identified as potential culprits of fraudulent activity. Below are the real key factors that led to this kind of determination.

Phil cannella Ackers: While president of TBC, Mr. Ackers should be responsible for developing the overall control environment with the organization. The “tone with the top” is one of the most critical factors to ensure that fraudulent activity is either prevented, diagnosed, or deterred. However , you will find no formal procedures where employees may report noted or thought fraudulent activity. Second, Mr. Ackers supposedly provided Ms. Hughes with bonuses in sufficient amount to purchase in cash a beach house in the Florida Keys. Though that purchase was made more than a decade ago, there may be heightened concern of Mr. Acker’s activities because of the amount of spectacular debt he is maintaining. Previous, Mr. Ackers was in charge of overseeing the construction activity of the newest training facility. The span of his control includes the cabability to retain and approve payments to suppliers and trigger change instructions without supplementary approvals. Mister. Ackers also offers the ability to override controls in his capacity while president. Furthermore, Mr. Ackers handles cash associated with software, promotion, and ticket sales.

Terri Barnes: Ms. Hughes has put in at least 20 years working together with Mr. Ackers. Furthermore, she has been knowledgeable about Mr. Ackers for at least 22 years even though the extent of their relationship is not known. Prior to her work with TBC, Ms. Barnes worked pertaining to Mr. Ackers as his assistant at Pizzano’s Cafe in Arkansas. Pizzano’s Restaurant was possessed by Mister. Ackers. Additionally , Ms. Barnes allegedly purchased a house in the Sarasota Keys with cash offered by Mr. Ackers as “bonuses” for her superb work. A home inside the Florida Secrets can be alternatively expensive beyond the ongoing property taxes and maintenance. When viewed together with Ms. Hughes’ salary and her maintaining rent obligations for a second home in Tallahassee, 1 must question whether her income can support such a life-style.

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