? asked in Business & FinanceSmall Business · 10 years ago

The auditors of Annaly mortgage discovered that a lot of fictitious employees were on the payroll system and w?

The auditors of Annaly mortgage discovered that a lot of fictitious employees were on the payroll system and were being paid salaries. Neither the CFO nor the payroll manager was aware of the fraud. What could be the possible reasons for the fictitious employees being added on the payroll system? Discuss in detail.

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  • 10 years ago
    Best Answer

    To launder money from the company. Someone in the company added the fictitious employees in order to get money for themselves, possibly the bookkeeper.

  • bucci
    Lv 4
    3 years ago

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