Employee theft is a major problem in the U.S. retail industry. Information obtained from SecurityInfoWatch reported that twenty-three (23) major retailers alone apprehended over 1.1 million shoplifters and dishonest employees, and recovered more than $189 million from these thieves in 2012.
1. Watch J. Farrell’s video below titled “Prevent Employee Theft in Your Business,” and provide at least two (2) examples of internal controls that could be implemented to reduce theft in the U.S. retail industry.
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2. â€œSarbanes Oxleyâ€ – Please respond to the following:
- Sarbanes Oxley is an added cost to any organization which has to comply with the regulation, yet gives investors more confidence in financial details. Compare the costs to the benefits to determine whether you are for or against this legislation. State your reasons with your answer.