Tallahassee Veggie Counters
Forensic Investigation Statement
A study of the economic performance and condition of Tallahassee Bean Surfaces (" TBC”) was executed for the period May through September 2013 for the purpose of sharing with you any kind of observations or areas that need additional thought. This research was depending on a limited knowledge of the business and the control environment. Furthermore, most of the detailed screening procedures that generally can be performed within a complete forensic investigation haven�t been conducted due to my not having complete access to almost all financial files and data. Please get in touch should you make a decision a more formal investigation is usually warranted based upon the conclusions included in this research. Our results include the next:
✓ The entire control environment has not been set up to prevent, identify, or prevent fraudulent actions including economic reporting;
✓ Ghost (fictitious) employees have already been created and payments had been made to these fictitious staff;
✓ Income from solution sales do not agree to supporting documentation;
✓ Bank deposit transactions are generally not properly verified;
✓ Inventory is controlled by misappropriation.
Potential Suspects and Red Flags
Based on my overview of personnel documents, interviews with co-workers, husband and wife or former spouses, and prior business employers, three people - Phil Ackers, Ben Hill, and Terri Hughes - had been identified as potential culprits of fraudulent activity. Below are the real key factors that led to this kind of determination.
Phil Ackers: Since president of TBC, Mister. Ackers should be responsible for developing the overall control environment of the organization. The " develop at the top” is one of the most important factors to make sure that fraudulent activity is either prevented, detected, or perhaps deterred. However , there are no formal procedures whereby staff can record known or suspected...