Running Head: WHOLE FOODS FRAUD PREVENTATION AND DECTECTION POLICY
Acc 421 Final Project: Fraud Prevention and Detection Policy
Southern New Hampshire University
June 14,2021
Table of Contents
WHOLE FOODS FRAUD PREVENTION AND DECTECTION POLICY
2
Introduction
Fraud awareness and prevention policies
Individual risk factor management
Training
Fraud detection and response policies
Controls over physical and logical access
Employee controls and supervision policies
Accounting reconciliation and analysis
Organizational audits and the audit function
Senior management support and enforcement of the policy
References
INTRODUCTION
WHOLE FOODS FRAUD PREVENTION AND DECTECTION POLICY
Whole Foods is an organic supermarket chain owned by Amazon, which was first
introduced in 1978 by founders John Mackey and Renee Lawson (Hardy), as SaferWay in
Austin, Texas, (Green, 2019). By 1980 SaferWay merged with Clarksville Natural Grocery to
open the first Whole Foods store. Only a year later in 1981 would the first Whole Foods be
destroyed in a flood, but with the support of the community Whole Foods was only "out of
business for 28 days," (Green, 2019). It was not until 1988 that Whole Foods would expand
outside of Texas and purchase the Whole Food Company in New Orleans. Whole Foods had 70
stores across 16 states by 1997, passing the one billion mark on annual revenue. Whole Foods
eventually went international in 2002, putting the first Wholes Foods store in Toronto, Canada
In 2017, with nearly 500 stores worldwide, Whole Foods store was purchased by Jeff Bezos, the
owner of Amazon, and today we are operating over 500 stores worldwide.
FRAUD AWARENESS AND PREVENTION POLICY
The Whole Foods fraud policy is in place to promote the growth of our controls that will assist in
the detection and prevention of fraud against Whole Foods. It is Whole Foods purpose to promote
constant company behavior by providing guidelines and assigning appropriate responsibilities to
individuals for the growth of controls and investigations.
Whole Food's management will be accountable for the detection and prevention of any fraud.
All known cases of fraud or suspicions of fraud will be reported to Loss Prevention who will direct all
claims both external and internally. Fraud is defined