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Your best friend, Noel Agoune started a business selling custom-made chairs and tables a few...

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Accounting

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Your best friend, Noel Agoune started a business selling custom-made chairs and tables a few years ago. His original designs quickly became popular, and he began selling in large quantities. His business has grown exponentially over the years. He now has a factory equipped with the latest technology and fully staffed manufacturing, sales, accounting and distribution departments in a recent conversation with you, Noel told you that although he is very pleased with the growth of the company, he did have some concerns. The company sales are increasing, but his profits are not increasing at the same rate. Noel admits that he has been more focussed on the design and quality of the furniture than on internal controls and admitted that he really did not know if the losses are operational or if he was a victim of occupational fraud. Noel knows he should look into this but does not know where to start or what approach to take Required: What steps should Noel take in this situation

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