Accounting Fraud & Embezzlement: Case Studies from the Trenches

Learning Objectives

• To recognize the factors that create an environment for fraud to easily occur.
• Identify areas where there could be an inadvertent failure to separate duties.
• To recognize the proper role of an external auditor and identify areas where independence can be compromised.

Course Description

Governmental entities are the second-largest victims of embezzlement. This seminar examines recent events involving the theft of public money and the circumstances that allowed the fraud to occur. Case studies we will examine include the 2012 $54 million embezzlements from the City of Dixon by Rita Crundwell. The events that impacted the small Illinois town of 16,000 residents was the largest governmental fraud case to date and spanned an astonishing 20 years. This remarkable story inspired an award-winning documentary, “All the Queen’s Horses.” We will also be examining the factors that led to the scandals involving the Baptist Foundation of Arizona, World Com, Collin Street Bakery and the Ohio American Cancer Society, among others. This course is ideal for CPAs, government finance personnel, all Internal Auditors, lawyers, governance professionals, accountants and human resource personnel.Governmental entities are the second-largest victims of embezzlement.  This seminar examines recent events involving the theft of public money and the circumstances that allowed the fraud to occur. 

Case studies we will examine include the 2012 $54 million embezzlements from the City of Dixon by Rita Crundwell.   The events that impacted the small Illinois town of 16,000 residents was the largest governmental fraud case to date and spanned an astonishing 20 years.  This remarkable story inspired an award-winning documentary, “All the Queen’s Horses.”  We will also be examining the factors that led to the scandals involving the Baptist Foundation of Arizona, World Com, Collin Street Bakery and the Ohio American Cancer Society, among others.  This course is ideal for CPAs, government finance personnel, all Internal Auditors, lawyers, governance professionals, accountants and human resource personnel.

Overview

• Key reasons for some entities being exposed to Fraud and Embezzlements

  10 mins
• Who are Trusted Insiders?

  20 mins
• AICPA Code of Professional Conduct

  30 mins
• Integrity & Objectivity Rules

  40 mins
• Responsibilities towards Client, Employers, and Public

  50 mins
• Case Studies – Facts, Perpetuator details, Scam, and failures in the system

  60 mins
• What can you do to protect your organization?

  70 mins
• Understanding the role of Internal Control

  80 mins