<\/p>\n
Name of the entity: Phar-Mor<\/strong>(Discount store company). <\/p>\n \u2022The purpose of the project: Showing how ineffective internal control over Inventory could lead a business to bankruptcy.<\/p>\n \u2022Business case- element and issues: \u2022 How could they have avoided that .<\/p>\n \u2022In the end explain it with numbers and facts.<\/p>\n <\/p>\n (Also make a small power point of the research for presentation)<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Name of the entity: Phar-Mor(Discount store company). \u2022The purpose of the project: Showing how ineffective internal control over Inventory could lead a business to bankruptcy. \u2022Business case- element and issues:This management fraud draws our attention since it committed a fraud of $500 Million by overstating the inventory. (issue) We start gathering information that explains how […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_joinchat":[]},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/164426"}],"collection":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/comments?post=164426"}],"version-history":[{"count":0,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/164426\/revisions"}],"wp:attachment":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/media?parent=164426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/categories?post=164426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/tags?post=164426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
This management fraud draws our attention since it committed a fraud of $500 Million by overstating the inventory. (issue) We start gathering information that explains how such a huge fraud could be occurred while external auditing is practicing their regular tasks by inspecting physical assets, documents and other performances.
Why inventory is important to the business?.
\u2022 plans to implement a good internal control over inventory which could have prevented the fraud .
\u2022New systems that prevent what happened with the company ..<\/p>\n