Accounting Assignment Example | Topics and Well Written Essays - 250 words - 8

Bookkeeping - Assignment Example Additionally, they dupe the bank by blowing up that they had bought a land property in the interest of the bank at an estimation of three point two billion rather than sixty-three point 5,000,000 dollars (International Financial Reporting. (2013). Stanford Company neglected to complete individual verification to examine the historical backdrop of the two authorities earlier employing them. Also, the organization didn't arrangement hostile to extortion strategy that shows how to recognize report and control misrepresentation. Thirdly, the organization didn't have an enemy of misrepresentation preparing to teach representatives on the danger of extortion. Also Stanford Company couldn't direct occupation turn which could have assisted with forestalling the event of extortion (Iyer and Samociuk, 2006). I would prescribe the organization to build up inner and outer control. For instance, the organization should do standard inside and outer reviews. Further, individual verification may assist with distinguishing individual character to hold delicate monetary positions. Additionally, insect misrepresentation arrangements and preparing ought to be advanced to address the issues of extortion (Iyer and Samociuk,