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(a shop has implemented a new coupon discount program for its customers. Employees could be scanning...

(a shop has implemented a new coupon discount program for its customers. Employees could be scanning coupons but charging the customers full price and then pocketing the difference.)
explain,construe fraud and mention internal control measures.
business   accounting   
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Answer #1

Yes, this situation can be considered as a fraud because employees are making use of a situation which was created to attract customers and thus defrauding them.

Internal control measures that can be used are

  • Scanning should be automatically linked to the bill inorder to make sure deductions are applied.
  • Records should be maintained showing coupon number linked to bills and deductions separately
  • Posters should be stuck to create awareness among customers.
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