Explain how the Wells Fargo accounting information system (i.e., components and functions) contributed to the fraud...

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Accounting

Explain how the Wells Fargo accounting information system (i.e.,components and functions) contributed to the fraud and / orembezzlement. You will need to focus on how each component /function of the accounting information system failed, whichresulted in the scandal / case.
Recommend a strategy that Wells Fargo may use to prevent futurebusiness information failures. Indicate how the company shouldapproach the implementation of your recommended strategy. Providesupport for your recommendation.
Please include any websites/references used

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3.7 Ratings (426 Votes)

Sir As far as I understand your question is about the control system implemented and flaws in between since I am an accounting and control expert I give my best to explain on internal controls in the easiest way I am skipping the technical portion on technology working inside How an accounting system work in such companies The whole system normally works at 3 level TPS Transaction Processing System MIS Management Information system EIS Executive information system there are several other classifications but broadly we consider these three TPS is used by the lower See Answer

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