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.
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Watch J. Farrell’s video titled “Prevent Employee Theft in Your Business”:
Click here to open the video in a new window.
Analyzing the information contained in the video, identify at least four (4) internal controls effective in mitigating employee theft and / or fraud.
Provide at least two (2) examples of internal controls that could be implemented to reduce theft in the U.S. retail industry.
Provide support for your answer.