For this assignment assignment we will focus on understanding risk management. Paper details: Provide at least 3 academic references (journals), but preferred 5 references. (Section 3) It has come to your attention that there has been some internal fraud on-campus at Alpha University.

Understanding risk management

Paper details: Provide at least 3 academic references (journals), but preferred 5 references. (Section 3) It has come to your attention that there has been some internal fraud on-campus at Alpha University. You discover that two staff in the Accounts department have been paying money into their own bank accounts based on paying false invoices they fraudulently created. You discover a large number of false invoices that detail companies that do not exist for work that was never done for Alpha University. This fraud has been carried out over the past 4 years and payments based on these false invoices now amount to $50,000 each stolen by these two staff members.

Understanding risk management

What are some of the hazard risk controls specifically related to fraud you can implement to prevent/detect/correct/minimise this type of fraud? Please provide some detail against each fraud-minimizing method you use. Refer to Control of financial risks (Links to an external site.) (Hopkin 2018, pp. 270-271) from your eText for information. Describe briefly how a poor internal culture related to risk management may have influenced and led to this fraudulent behavior. Refer to Steps to successful risk management (Links to an external site.) (Hopkin 2018, pp. 286-288) from your eText for information.  Use academic, practitioner or quality expert literature to help justify your above analyses (minimum three references). https://youtu.be/V0CGyEUL3ys

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