evaluating for fraud – Essay Writers

You have just purchased the 40-room Eagle Ridge Motel and the attached restaurant. It is located in a remote part of your state approximately a 5-6 hour drive from your home. The motel is a destination for many tourists in your state because great hiking, kayaking, and wildlife surround it. You eventually would like to live near the motel, but for now you are planning to stay in your current job in the city and visit the motel when time allows–mostly on the weekends. You hired a young brother and sister team to run the motel and restaurant and will pay them a monthly salary. The young couple will be responsible for hiring, training, and supervising the 5-6 part-time employees, who will cook, clean, and help customers at the motel and restaurant. The couple will also be responsible for keeping the books and records for the motel and restaurant and will also prepare the deposits and pay invoices.
You are concerned about the financial and operational controls within the business since you will only visit periodically. You trust the young brother and sister but also do not want to put them in situations where they will be tempted to commit fraud.
In your post, outline your general concerns and the areas you think are most susceptible to fraud. Be sure to answer the following questions:
What are your two biggest concerns relating to possible fraud for the restaurant part of the business? For each concern, generate two or three controls that could effectively reduce risk related to your concerns. Use common sense and be creative!
What are your two biggest concerns relating to possible fraud for the motel part of the business? For each concern, generate two or three controls that could effectively reduce risk related to your concerns. Use common sense and be creative!
 
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