20 Ways to Detect Fraud:
1. Unusual Behavior
2. Complaints
3. Stale Items in Reconciliations
4. Excessive Voids
5. Missing Documents
6. Excessive Credit Memos
7. Common Names and Addresses for Refunds
8. Increasing Reconciling Items
9. General Ledger Out-of-Balance
10. Adjustments to Receivables or Payables
11. Excess Purchases
12. Duplicate Payments
13. Ghost Employees
14. Employee Expense Accounts
15. Inventory Shortages
16. Increased Scrap
17. Large Payments to Individuals
18. Employee Overtime
19. Write-off of Accounts Receivable
20. Post Office Boxes as Shipping Addresses
To read out the above fraud ways and detection methods go to the following link.
Regards,
Manzoor ahmed
CAclubindia
