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Fraudulent is the state of one cheating other people, in order to have some personal gain. In the case of a dental school in central New York, we find two main characters who are Kyle Devlin and Janet Jamison who worked in the office of business managers committed some type of fraud known as Counterfeit. This is where one gets to forge information or documents on money matters, precious merchandise or credentials.
Winslow performed quite a commendable job in his piece of work. He keenly chooses on the methods he would use, so that he would produce a masterpiece report. He tried to consider what had led the company involve him /call for his intervention in their case. He also took into consideration who was involved, that is, the main participants of the matter at hand. Why the company needed help from outside and mostly from a respectable private fraud investigator like him, instead of solving it? What had happened to the company that in turn decided to carry out an investigation on its employees, and what domino effects caused punitive actions?
He also put into considerations other means like interviewing the ones involved, and trying to acquire information from them that would guide him. He also involved means, like Discovery sampling and reviewing the computerized master files of the vendors. He also made efforts to gather information from the department that catered for the accounts payable about the vendors. The above methods helped Wilson to get to the root of the fraud behavior that got to run in the school management. On the day that Winslow went to interview Janet, she was not in, and as a result, he got a chance to conduct a search in her office. Unfortunately, she had left her paycheck behind. This gave the private fraud investigator a chance to conduct an accidental detection check.
Winslow was quite unfair and his work has to be under rated in that he decided to pick every third sales person that got his /her name appearing on the first three pages of the invoices. He did not consider checking on the invoices of the other participants, and concluded that only the Tate Supply Company was the one Kyle Devlin, Janet Jamison mostly used in stealing money from the school. He put much of his consideration upon investigating how much the two participants had taken from the company, he would have tried to investigate how they had managed to do so, and whether the school had been affected by it and the expense it had cost the school, and how they got to never be caught.
By deciding to concentrate on the first three participants, he has to give wrong and immature information. He did not get to confirm, if what was happening to the Tate supply company was happening to all other vendors.
I would encourage Winslow to combined efforts with the investigators from the local district attorney's office. Two minds are better than one. If he agrees to join hands with the other investigator, the results would be more trusting. He also ought to get a time plan that would guide him all the processes he undertook. This would also ensure that his results on his investigation were due in time. This would be of so much help to the company, as it would assist the company to get to know the root and the extent of the fraud activities that had been going around in the administrative offices.
He should also try planning his investigating activities to ensure that he was not confused in what he was doing and reaching a place he did not know what to do next. Winslow has so much interest in the compensation he would get, rather than delivering a good job. This is clearly shown when he refused to get the other fraud investigator joining him in his work. This is not a good step, and he ought to change and agree to have a work partner who would try introducing new methods in the research. This is would have been a good way of getting to the fraud conducted by the two, Devlin and Janet towards the school.
He could also try going through all the documents, instead of what he was doing, passing through the documents and picking out only the names that appeared as number three in every document. This is a presentation of laziness, and as a result, he was producing information that was incomplete. It would be of no help at all, or could offer very little help to the school.
In cases where fraud occurs, there is usually what is called a fraud triangle. It mostly involves the reason /desire one has to commit a fraud action, the attitude that the person has towards the goals he has set, and lastly, the chance that enables fraud to occur. With this in mind for every company facing fraud problems, it needs to get a way of eliminating one of three constituents of a fraud triangle.
In our case, the dental school seems to be having a tendency of over trusting their employees to an extend of not going through important documents resulting into the employees having an ample time to steal money for quite a long time without being noticed. Their domestic gearshifts were scrawny. This in turn would demand them to try to collect their weakness, so as to have their company running swiftly with no further occurrences of deceptiveness. The best way of ensuring such actions is past tense in the company, by making sure that the employees have no chance to carry of fraud in any way. This can be done by ensuring that the directors get time to pass through every single document scribbled down or computerized, and ensures that their workers or those responsible are in turn answerable for any miscalculation or any information that is not clear.
In so doing, the workers have a minimal time and a chance to steal the company resources. The best way of doing this is well described in what is called a COSO Model. This involves a description of 5 mechanisms that can be incorporated to ensure that the domestic gearshifts work properly to eliminate the opportunity chances.
They include; having a perfect control-working environment, evaluation of the risks the company is undertaking, ensuring that every other action of the employees has to be scrutinized; guaranteeing that there is communication among the employer and workers on information concerning the company, and also making the workers understand that every action they take is controlled by certain regulations.
The control environment, for instance, involves the behavior and courses of actions that show the true outlook of directors, managers etc. and its importance to other individuals. It also consists of other sub titles, like dedication to aptitude, veracity and moral values. The way those managing a company behave matters a lot, as most employees get to take that as their example. Thus, this calls for all managers to be responsible for their actions to ensure that the control environment has a meaning in the company.
Risk assessment is trying to assess what would be a hindrance, from either the internal or the outside surroundings, to what the company wants to meet. This is the one key point that requires management to critically think and come up with solutions to the threats, and evaluate them, in order to choose the required exploit, and the precedence for that action.
Control activities include; division of duties among the workers, satisfactory records, apposite endorsement of transactions, control over assets and sovereign checks on performance. Measures and strategies used to ascertain that the risks that the company is facing are dealt with to meet all its objectives smoothly. In most organizations, if these procedures are not well stated out, then the workers taker advantage and a chance to be involved in a fraud. The managing board is supposed to classify chattels belonging to the company and spelling out how they are supposed to be handled. With this, company can be in a position to question the one who was put in charge of them. The next step is for this control activities to be enforced and put in practice. This should be made sure by the higher officials.
Communication among the employer and employees on how the company is run should be a regular activity. There should be a good flow of the functions of a certain step undertaken and how much important it is to the company. There should also be clear records on the performance. This should flow in an upward manner through the managing directors. In it should be the aim pointers. Keeping an eye on the activities that the employees are doing is another better way of preventing fraud to be the part of an organization problem.
One way of doing this is by carrying out a control agreement analysis by the management. If the populace of a certain company has been putting into consideration the key points towards a having a good control environment, then frauds cases are likely to be uncommon or even unheard of in that company . Whereas, in another one that has been having an incongruously management, there is a likeliness of there being funny cases. The dental school in a way has some relations to the case, fraud against organizations. Devlin was stealing from the school money to take his girlfriend out. He had a reason behind his deceptive character. He was also having a chance to steal, since his masters rarely come to take records on how the accounts office runs. He also had a positive attitude towards his action. He hoped that nothing would be realized, and that his aim of making his girlfriends happy would get to be accomplished. The dental school also undertook some measures to make sure that these fraud actions have to be investigated by a fraud investigator and checked for how long it had been going on (Chad, 2011).
In conclusion, I would consider that the dental school gets to implement changes on its administrative management either by trying to interchange people from one office to another or transferring them to other department to avoid them getting to make fraud conducts with no one’s recognition. The management team should also take up their roles and ensure that they are good role models, and that they monitor the employees’ activity. They are also expected to put it clear to every other person that, if one is not trying to steal or having stolen from the school in any form, then that would in turn call for penned off.