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- Greg, a highly skilled computer technician is working as a janitor at X Company....

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Accounting

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- Greg, a highly skilled computer technician is working as a janitor at X Company. Since the position was low level no background check was necessary. While working at nights, Greg snooped through offices for confidential information regarding system operations, internal controls, etc. He observed employees who were working late type in their passwords and managed to install a virus onto the system to capture the IDs and passwords of other employees. Greg was able to obtain the necessary IDs and passwords which gave him access to most of the accounting system's functions. - He acted as a customer and ordered products which were delivered to a rented flat and, later, he sold them. He also acted as a system administrator and falsified the customer payment records to make it appear that the products had been paid for. - This fraud schemes cost the company approximately $50,000 per month and went undetected for 2 years. The internal auditor noticed that Greg is arriving for work in an expensive car. Therefore, he started an investigation that exposed Greg's activities. Required: What controls weaknesses allowed Greg to commit these frauds? What are the controls that should be in places to reduce the risk of fraud

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