Industry Fraud Risks
The risk of this increases when hotels use online booking and check-ins without proper security."
What is data theft?
PSU Hotel’s core business processes include
What is operations and service ?
At PSU, final billing processes are at risk of error because night auditors do this task around 3 a.m., slipping the bill under guests' doors.
What is delivering the final bill?
These are examples of this part of the fraud triangle?
What is Opportunity?
With not enough workers, hotels may struggle to prevent this type of dishonest action involving money.
What is theft?, or misappropriation of assets?
There is a risk due to a lack of ______ as the accounting managers have both preparation and approval authority
What is segregation of duties?
This type of manager at PSU is responsible for planning, executing, and recording all details of events, which creates high fraud risk due to a lack of oversight?
Who is the catering manager?
Keeping up competitors Personal wealth and personal wealth pertain to what part of the fraud triangle?
What is Incentive?
When hotels fail to meet customer expectations, they might resort to falsifying these metrics to hide poor performance.
what are customer satisfaction metrics?
The hotel’s resource management processes include these three aspects (only need to get two)
What is marketing, sales and human resource management?
This control is required for transactions over $2,500, but employees can work around it by reporting just below this amount.
What is the two-approver requirement?
Telling yourself "no one will notice" pertains to this side of the fraud triangle
What is rationalization?