Case Analysis 7.3: Auto-Owners Insurance Co. v. Bank One (Pg. 525)

Case Analysis 7.3: Auto-Owners Insurance Co. v. Bank One (Pg. 525)

Case Analysis 7.3: Auto-Owners Insurance Co. v. Bank One (Pg. 525)
Read this case in your text and answer the following question. Be sure that you supply your reasoning, supported by information from the chapter.

What reasonable steps could Auto-Owners have taken to prevent such internal fraud?

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For any organization that deals with liquid cash, it is always advisable to have an elaborate system of transferring the money to the organization’s bank account. Contrary to this, cases of fraud are more than inevitable. Having a worker record invoices and send the money to the headquarters is not at all an amicable way. What if the record file goes missing at the time of need? It would be the word of the recorder against that of the officials at the headquarters. It would be better if there was another leader past the reception desk who acknowledged the reception of the money and its exit from the company. These steps would prevent anyone within……………………….

APA

272 words

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