ACC 7015 Assignment 3 Northcentral University

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ACC7015 Assignment 3 (NCU) Preview:

Introduction

This paper looks at the case study involving Miami Rehabilitation Services (MRS) and their billing company, MS Billing (MSB). The case looks at how internal controls are important in small businesses and how even the most respected employee can commit fraud. Throughout this paper, we will discuss the fraud triangle and how it relates to this case study, control activities and how they were applied to MRS and MSB, recommendations for control environment and monitoring, and a description of how a forensic audit could be conducted. Also included within this paper is a discussion of recommendations for segregation of duties and how the accounting system is able to prevent and detect fraudulent actions.