Management and Organizational Studies 3367A/B Lecture Notes - Lecture 2: Cheque, Bank Statement, Larceny

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3367A/B
• Professor: weingartner

Document Summary

Skimming: theft of cash from a victim entity prior to its entry in an accounting system. Its principal advantage is its difficulty of detection. Employee makes a sale of goods or services, collects the payment, and makes no record of the transaction. Employee pockets the proceeds of the sale. Without a record of the sales, there is no audit trail. Cash register manipulation: (cid:862)(cid:374)o sale(cid:863) or other (cid:374)o(cid:374)-cash transaction is recorded, cash registers are rigged so that sales are not recorded on the register tapes, no receipt is issued. After hour sales: sales are conducted during non-business hours without the knowledge of the owners skimming by off-site employees independent salespeople, employees at remote locations. Preventing and detecting sales skimming create a perception of detection install video cameras. Maintain a viable oversight presence at any point. Utilize customers to detect and prevent fraud. All cash registers should record the log-in and log-out time of each user.