The president, her assistant andanother staff member employed atCampbell Coffee piled up $450,000in fraudulent transactions...
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Accounting
The president, her assistant andanother staff member employed atCampbell Coffee piled up $450,000in fraudulent transactions over thepast year.
The president racked up $300,000in unauthorized credit card chargeson the company's corporateAmerican Express cards.
The assistant collected $50,000 infunds via unauthorized credit cardcharges to herself.
The staff member used theremaining $100,000 on designerclothing, concert tickets, andvacation trips.
The fraudulent charges continued to occur until a newly hired accounts payable manager discovered the questionable charges.
Questions:
What went wrong in the organization's structure that allowed the issue occur?
What is your recommendation(s) that the organization can follow to prevent this activity from occurring again?
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