UMGC Fraud Internal Control and Cash Questions

Description

Can anyone help me this question?

As city comptroller of Dixon, IL, Rita Crundwell stole $53 million of public funds across 20 yearsaking her the perpetrator of the largest case of municipal fraud in American history. She used the funds to build one of the nation’s leading quarter horse breeding empires, all while forcing staff cuts, police budget slashing, and neglect of public infrastructure.

A documentary, ALL THE QUEEN’S HORSES, investigates her crime, her lavish lifestyle, and the small town she left in her wake.

Watch the trailer here: https://www.allthequeenshorsesfilmcom/trailer

Watch the full documentary here (there are ads – sorry):https://www.youtube.com/watch?v=dpr2A3S3CNk

Please read through the questions below. After watching the full documentary, please answer the questions (numbered, and in complete sentences!) as they relate back to the video and Chapter 7 raud, Internal Control, and Cash )n our Chapter 7 module and Chapter 7 in our textbook:

Based on the video, who do they say is the second most common victim of embezzlement?
In your own words, after watching the video, how did the town clerk (Kathy Swanson) discover the fraud?
How long did the town take to investigate Rita? How much (in dollars) did she steal just during the investigation?
The narrator of video notes that she continually gets asked, /w does one person in a small town steal 53 million dollars with no one knowing and get away with it? fter watching this video, and after reviewing Chapter 7 in our book hat components and/or principles of internal control were violated? Please reference at least three components and/or principles of internal controls noted in Chapter 7. Use the terms we discussed from the chapter. Please give examples of how they were violated from the documentary.
What internal controls would you suggest that they implement going forward? Please give examples of what they could do to improve the control over the city funds using your Chapter 7 knowledge.

Extra Credit 5p to 5 points added (noted in the video (int7atch all the way through the ending credits):

Fraud accounts for what percentage of all business failures?
What percentage of companies are affected by fraud?
What is the median dollar amount of loss due to fraud for government entities?
69% of all federal embezzlement cases occurred in companies with fewer than how many people?
Nearly 57% of the incidents involved male or female perpetrators?

1 attachments

Slide 1 of 1

attachment_1

attachment_1

Explanation & Answer:

5 Questions

User generated content is uploaded by users for the purposes of learning and should be used following our honor code & terms of service.



^{Have a similar assignment? "Place an order for your assignment and have exceptional work written by our team of experts, guaranteeing you A results."}

Our Service Charter

1. Professional & Expert Writers: Essay Noon only hires the best. Our writers are specially selected and recruited, after which they undergo further training to perfect their skills for specialization purposes. Moreover, our writers are holders of masters and Ph.D. degrees. They have impressive academic records, besides being native English speakers.

2. Top Quality Papers: Our customers are always guaranteed of papers that exceed their expectations. All our writers have +5 years of experience. This implies that all papers are written by individuals who are experts in their fields. In addition, the quality team reviews all the papers before sending them to the customers.

3. Plagiarism-Free Papers: All papers provided by Essay Noon are written from scratch. Appropriate referencing and citation of key information are followed. Plagiarism checkers are used by the Quality assurance team and our editors just to double-check that there are no instances of plagiarism.

4. Timely Delivery: Time wasted is equivalent to a failed dedication and commitment. Essay Noon are known for the timely delivery of any pending customer orders. Customers are well informed of the progress of their papers to ensure they keep track of what the writer is providing before the final draft is sent for grading.

5. Affordable Prices: Our prices are fairly structured to fit in all groups. Any customer willing to place their assignments with us can do so at very affordable prices. In addition, our customers enjoy regular discounts and bonuses.

6. 24/7 Customer Support: At Essay Noon, we have put in place a team of experts who answer all customer inquiries promptly. The best part is the ever-availability of the team. Customers can make inquiries anytime.