Please can you provide me with some background information on the risks inherent in the transaction cycle.
I just need to have some information so I can continue researching this topic.
Attached is the case study.
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The risks inherent to selected transaction cycles:
- There is a risk that illegal and unethical activity may be carried on through this account if the board did not review the activities of the school bank account.
- There is a risk that the business manager would misuse the funds in this ...
This answer provides you an excellent discussion on Employee Embezzlement.