Problem
Select a recent fraud case that involved kickbacks and bid rigging. Kickbacks and bid rigging have the net effect of decreasing a company's assets by setting up fraudulent deals. Answer each question (1-2 paragraphs)
How did the fraud operate?
What measures could have been taken to prevent and detect the fraud?
An accounting information system would have safeguards in place to make sure proper controls were in place to guard against fraud. Why didn't the accounting information system prevent the fraud?