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Financial Statement Fraud Schemes - Essay Example
Finance & Accounting
Pages 4 (1004 words)
Financial Statement Fraud Schemes, Apollo Shoes Company Name: Lecturer: Course: Date Introduction Apollo Shoes Company deals with production of various types of shoes that include: common athletics shoes branded as SPOTLIGHT, the Police shoes branded as SIREN and athletes shoes with speakers branded as SPEAKERS shoes (Timothy, Loretta, & Kenneth, 2011)…
This case involves several characters, namely; Mr. Karina Ramirez, the director internal auditor at Apollo Shoes Company, the engagement manager Mr. -Darlene Ward law, Mr. Arnold Anderson the engagement partner and the intern Bradley Crumpler (Timothy, Loretta, & Kenneth, 2011). The communication in this company entails the use of email messages because physical interaction is limited between the employees (Timothy, Loretta, & Kenneth, 2011). Based on this case it can be scrutinized that the company accountants has not been ensuring that all items are properly recorded for easy audit. Additionally, the company does not have enough experts to carry out audit work (Timothy, Loretta, & Kenneth, 2011). This can be scrutinized with a scenario where an intern was incapable of making necessary entries in the books of accounts as other members were busy doing other duties (Timothy, Loretta, & Kenneth, 2011). Poor financial management has subjected customers to financial difficulties and this has made the company fail to accomplish goals and objectives. ...
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