Please respond to the following: Accounting Wk #8

I’m studying for my Accounting class and need an explanation.

Part 1: Post a Response

View this short introduction to the discussion.

Click here to watch the video

According to a recent article from Forbes, retail operations in the United States are experiencing over $60 billion a year in losses primarily due to employee theft. Imagine you have been hired as a loss prevention specialist for a large retail chain and your first assignment is to identify and address the current problems with inventory shrinkage. Select and discuss one of the following internal controls below you would implement to help prevent future employee fraud/theft? Be sure to provide your rationale.

  • Option A: More stringent background screenings for new hires (i.e. reference checks, criminal record checks, credit record checks)
  • Option B: Tighter security controls (i.e. video surveillance, random inventory/cash audits, computer system audits, segregation of duties)

Part 2: Respond to a Peer

Read a post by one of your peers and respond, making sure to extend the conversation by asking questions, offering rich ideas, or sharing personal connections.

Reference Article

New Report Identifies US Retailers Lose $60 Billion a Year, Employee Theft Top Concern

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