New Century and KPMG Fraud 2008
Subject Matter: Description, discussion, and analysis of any fraud related matter that encompasses an accounting, auditing, and/or financial related issue. The matter needs to have a forensic posture (some type of fraud examination by an interested party or authority) so that the suggested discussion areas below can be addressed.
Your research will not likely undercover all of the steps and issues which occurred during an internal, regulatory, civil and/or criminal investigation.
To the extent your research does not reveal all of the logical steps that likely occurred, identify what the steps you believe might have occurred and how you would have addressed them.
Be sure to explicitly delineate between what your research reveals and what your own thoughts and recommendations might be.
The purpose of this research is to describe a fraud related matter; understand the forensic accountants and/or other professionals with an investigative interest and the parties they represent; dissect the fraud; discuss the investigative steps; describe the resolution of the issues; and be able to communicate preventive measures.
Do write your paper in outline form. Clearly label each section of your paper as shown below.
I. Facts: Description of the Fraud
II. Classify the fraud using the ACFE’s Fraud Tree.
III. How was the fraud detected?
Copyright 2019 Victor E. Hartman
A. Whistleblower
B. Internal / External Audit
C. Regulatory body
D. Self-reporting
E. Law enforcement
F. Lawsuit
G. Other
IV. Forensic Posture: What facts, analysis, opinion, and conclusions are being sought and by whom?
A. Internal Proceedings
B. Regulatory
C. Civil
D. Criminal
E. Other
V. Analysis of the fraud:
A. How was the fraud perpetrated? Explain in detail.
B. What was the motivation of the subject?
C. Were controls overridden?
D. Economic impact, if any, on the entity.
E. Economic gain, if any, to the subject.
VI. Internal Investigation:
A. Who comprised the internal investigation, if known and if there was one?
B. If an internal investigation is merited, who would be the best party to lead?
1. Internal component
2. External component
3. Let the Civil / Criminal Authorities resolve
4. Other
5. Provide your opinion here
VII. Investigative Steps:
A. Strategy and sequencing of investigative steps.
B. Information obtained from individuals.
1. Interviews of critical witnesses or subjects
2. Depositions
C. Documents Needed:
1. Internal
2. External
3. Public records
Copyright 2019 Victor E. Hartman
D. Computer forensics.
E. Undisclosed Participation or Undercover Technique Possible
VIII. Conclusions and resolutions reached by interested parties, lawsuits, etc.
IX. Recommendations:
A. Can this be prevented in the future?
B. Internal controls
C. Fraud prevention recommendations
X. Other
A. Unusual issue presented
B. Ethical issue presented
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