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In July 1997, Yasuyoshi Kato, 39, pleaded guilty to embezzling $62 million from Day- Lee...

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Accounting

In July 1997, Yasuyoshi Kato, 39, pleaded guilty to embezzling $62 million from Day- Lee Foods, Inc., a meat processing company in Santa Fe Springs, California where he had been employed as chief financial officer. According to prosecutors, Kato, wrote checks to himself and his wife, from company accounts over a period of about six years. Kato then took out bank loans and forged accounting entries to cover the theft (Marquet, 2011).

Information systems will always experience some sort of error or irregularity such as the case of Kato in 1997 which was an intentional mistake. This type of risk, fraud and embezzlement, created a high dollar loss for all stakeholders. As a future professional accountant how might you work toward securing your information systems with a series of control measures?

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