Going South PPT

Case 1: Fraud examination Karen, a friend of yours, recently started her own busi- ness, The Bike and Boulder Company (B&B). B&B specializes in the sales of mountain bikes and rock- climbing equipment. Karen is putting the finishing touches on her company policies and procedures. She knows you are taking a fraud class and asks you to review what she has completed thus far. You quickly notice that Karen has neglected to address fraud and fraud prevention in her policies and proce- dures. What policies and procedures would you suggest Karen implement to prevent and detect fraud at B&B?

Recognizing Red Flags Refer to the article below, which was assigned as part of the reading for this week, about a $1.3 million fraud committed by an employee at the Fort Worth, Texas stockyard. This fraud is a stark example of what can happen, and for how long, when no one is looking for red flags. White Collar Crime: The criminal in the next cubicle. Respond to the following: Explain what happened in the case, how long the fraudulent lasted, who discovered the fraud and how, what the court decided, and what the consequences were for the stockyard. Describe some of the red flags and internal control procedures that should have been in place to deter the fraud. Support your answer. Be sure to respond to at least one of your classmates' posts.

Internal Control-Fraud Triangle Identify the fraud triangle risk factor (opportunity-O, pressure-P or rationalization-R) in each situation. 1. 2. 3. Employeees are told to report increased income or be fired. Several sales clerks share the same cash drawer. A worker did not receive a bonus this year and now feels it's okay to use the company credit cared for personal expenses. 4. Doors safeguarding valuable merchandise are not locked with a passcode. An employee feels underpaid and believes stealing inventory is justified. 5.

The ethical reflection assignment required you to watch three videos about Barry Minkow. Which of the following is false with respect to Barry Minkow? Multiple Choice He is currently the CFO of Lennar Homebuilders After his first release from prison he started the Fraud Discovery Institute and worked with the FBI He eventually became an evangelical minister, but went back to prison again after embezzling money He was convicted at age 22 for the ZZZZ Best Fraud

Overview You have learned about big corporate fraud in this course such as Enron and WorldCom, but fraud can happen in any organization. Examine a case that addresses the importance of internal controls, including how the fraud triangle can aid in an investigation and how to find missing cash. Prepare View the media activity, Employee Fraud at Miami Rehabilitation CenterLinks to an external site.. It provides information about a case of fraud that you will address in the assignment. Instructions Based on what you discovered in the media piece, (not including cover and reference pages) paper that addresses the following: Like fuel, air, and heat come together to make fire, the likelihood of fraud increases when the three elements of the fraud triangle come together. Analyze how the 3 elements of the fraud triangle are important and how all 3 elements were present in Helen's case. In 2006, The Committee of Sponsoring Organizations (COSO) published a small company version of its 1992…

Discussion Questions on Fraud Prevention from Chapter 4 Fraud Examination 4th Edition 1. How do organizations create a culture of honesty, openness, and assistance? 2. What are different ways in which companies can eliminate opportunities for fraud? 3. What is the purpose of adopting a code of ethics throughout a company?

Preventing Cybercrime and Identity Theft Cybercrime and identity theft have become a growing problem in all aspects of society in recent years. Locate an article about cybercrime or identity theft in an organization from one of the types we have discussed in the course (government, not-for-profit organization, healthcare organization, or college or university). Summarize the case of cybercrime or identity theft in your article. What are the risks of these types of crimes to their organization? How can auditing and internal controls help prevent a company from falling prey to cybercrime? Then, review the examples shared by your peers. What strategies related to auditing and internal controls could you suggest for the organizations they shared?

QUESTION 23 The film All the Queen's Horses documented a fraud that occurred in the town of Dixon, IL. The film used what analogy to illustrate the function of an independent auditor? O a. a jewelry appraiser. O b.a professor grading exams. O C. a restaurant critic. O d.a baseball umpire.

Causation and Impacts of Major Fraud The videos from this week provide information about 2 major frauds: The Types of Problems that Can Occur in Financial Statements. Classic cases: WorldComLinks to an external site. (4m 28s). The Motivations Behind Earnings Management. Classic Cases: EnronLinks to an external site. (4m 57s). Respond to the following in a discussion post: Assess the impact these cases had on the corporations' investors and creditors. Explain the risk factors involved, the elements of the fraud, and competing analyses of the causes of the fraud. Provide support for your rationale. Be sure to respond to at least one of your classmates' posts.