Week 2 Assignment - Identifying the Absence of Effective Internal Controls

Week 2-Assignment

For this assignment, you will represent a company that does not currently have an accounting information system (AIS) established. Make sure you clearly identify the business line, product type, and market position.
Read this article before you begin:

• Identifying the Absence of Effective Internal Controls: An Alternative Approach for Internal Control Audits.
• Instructions
  Write a 3–4-page paper in which you:

1. Identify at least four different areas where there could be potential accounting fraud in a company. Make sure you elaborate on your reasoning for why accounting fraud could occur as well as the financial implications on the organization.
2. Design a method of detection and a method of limiting the possible financial fraud. Provide support for your arguments and rationale using support from your text and supplemental readings.
3. Provide support for arguments and rationale using AIS knowledge and recent AIS literature.
4. Draft a one-page recommendation at the end of the document directed to the CEO explaining the findings, recommendations, and benefits of installing an accounting information system. Make sure you are specific in your recommendations. This is an additional page and not included in the original 3–4-page paper.
5. Use at least three quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources.
6. This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
   The specific course learning outcome associated with this assignment is:

• Assess the accounting process of a business to determine the need for an accounting information system to prevent fraud.