HCS 380 Wk 4 Discussion Board

Answer the following the question on internal control measures and fraud based off reading Chapter 7 in our textbook. Your initial response is due by Thursday.

Write a 175- to 265-word response to the following:

Background: Accounting scandals and fraud, both in the United States and internationally, have re-ignited the debate over the current laws, regulation and accounting principles. The relative merits of GAAP, which takes a “rules-based” approach to accounting, versus IFRS, which takes a “principles-based” approach have been under scrutiny. In the last couple of years, the FASB announced that it intends to introduce more principles-based standards to improve general accounting principles and practices.

Organizations have internal control measures to detect fraud. In additions, organizations are subjected to required reporting of financial information to external entities. With that in mind, answer the following items in your initial discussion response:

1. Define fraud and discuss the three factors identified in our textbook that contribute to fraudulent activity.
2. What are some strategies in health care to prevent financial fraud? Provide some details.
3. Identify an example of an organization that has committed fraud. What happened and what were the legal ramifications?

APA Formatting: Use citations where appropriate and list references. All citations and references, if used, must be in APA format. Only 15% of the content can be source material. If you write in your own words, only the reference is required.

Be sure to answer the question fully and substantively in your own words. I do not want to see information from the internet or verbatim from the textbook. Please refer to the announcement section of the course for information on what constitutes a substantive response.

Participation Responses: Due by Monday (no exceptions)

Read your classmates’ initial posts as well as mine. Respond with two participation posts. You can respond to two classmates or one of mine and one classmate. Your responses should be at least 85 words. Please be constructive and professional with your thoughts, further knowledge, recommendations or experience.