Question: Explain how identity theft would affect a corporation's financials.
Describe the procedures an accounting department would take in order to protect a company from identity theft.
Your answer should provide a specific example of a recent (i.e. within the last 2 years) case of identity theft that a corporation (other than Target) has been subject to. Financial impacts must be specific in terms of which financial statement items are affected. Also plausible estimates must be given of the magnitude of such impacts as well as providing a logical argument as to why you think your estimates are reasonable.