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ACC 556 Crooked Scenario 2 Part 1

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Shortly after you completed your work of unpacking all the players in the CrookEd Partners drama and identifying all potential fraudulent activity that had been relayed to you (Week One Scenario Assignment), your secretary came into your office and said you had a visitor. You inquired who it was and she said it was an accountant, C.H. Ainge O‟Hart (Chainge „O Hart) from a local CPA firm, Inn, Kaw, Hoots (IKH). You were familiar with this firm and familiar with their reputation. You also know they were the external auditors and business advisors for CrookEd Partners, as mentioned by Bubba. You immediately dropped what you were doing and rushed out of your office to meet Mr. Hart. He is escorted into a private office where you also invite your team.

Mr. Hart was obviously nervous and sweaty, so you offer him something cool to drink. Almost before you could sit down and begin to inquire why Mr. Hart has joined you, he blurts out that one set of the financial statements he provided Steamy and Daddy were correct and one set was wildly incorrect. The one created by CrookEd Partners is false; the one by Inn Kaw Hoots is correct.

He had tried to bring this information to local authorities, Steamy and Daddy, and others, and when he had done so, he was threatened with his life by the partners of his CPA firm (they did not want to lose a “good” client), by someone named “Tony” from one of the local unions, by the state head of the Department of Professional Licensing who licenses CPAs, and finally by a CRookEd Partner VP. To avoid being discovered he had recently been living in Vegas as a showgirl, doing two shows a night; three on the weekends.


This story sounded so preposterous you request some proof. Mr. Hart stated he had the depreciation schedule CRookEd Partners created for the bogus balance sheet they are planning to present to the bank to secure a loan to buy equipment for the second phase of this project: a combo pipeline/waterslide from Rock Springs to Laramie, Wyoming.

There are two team assignments related to the Crooked scenario this week.

Part 1: Based on the depreciation schedule given to you by Mr. Hart (see attached), and with your team, please perform an analysis on it using concepts from Fraud Examination, 5th Edition Chapters 11 – 13 and from Executive Roadmap to Fraud Prevention and Internal Control: Creating a Culture of Compliance, 2nd Edition, Chapter 6 (Reading for this week).

Create a 350-700 word page for the instructor outlining what you observe in this data. ACC 556 Week 1 Crooked Scenario 1

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ACC 556 Week 1 Crooked Scenario 1

ACC 556 Week 1 Sherlock Homes


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ACC 556 Week 1 Sherlock Homes ACC 556 Week 1 Short Answer Quiz

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INDIVIDUAL ASSIGNMENT Complete the Week 1 Short Answer Quiz. Click the Assignment Files tab to submit your assignment as a MicrosoftŽ Word document. 1. What is the Association of Certified Fraud Examiners (ACEF) and what do they do? – 2. Define fraud. 3. Distinguish between fraudulent financial statements, asset misappropriation and corruption. 4. Using Table 1.1 Types of Fraud, define employee fraud and management fraud and identify the victim and perpetrator in each type of fraud. 5. Who commits fraud? 6. Describe each of the elements of the Fraud Triangle. 7. List the 4 main groups of pressures and give 2 examples of each. 8. Discuss the difference between fraud detection and fraud prevention.


9. True or False: Fraud can always be prevented? Why or why not?

10. Select one corporate fraud case study from the text and compile a quick compare and contrast as it relates to fraud.

ACC 556 WEEK 3 Assessing the Impact of Asset Misappropriation

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INDIVIDUAL ASSIGNMENT Write a 1,050 word paper on the impact of asset misappropriation on an organization of your choice. Include the following as headings for your paper: ·

What was the fraud?

·

Who committed this fraud?

·

Why did they commit this fraud?

·

How did they commit this fraud?

·

How did they get caught?

·

What are the consequences and impact for the individual and the organization?

· What could have been done to lessen the likelihood this type of this type of fraud occurring at that time and in the future? Click the Assignment Files tab to submit your assignment as a Microsoft® Word document.


ACC 556 Week 3 Crooked Scenario 3

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1. Define and describe Theft Act Investigative Methods. 2. What is a Vulnerability Chart and how, when and why is it used? 3. Define Invigilation and discuss how, when and why it is used. 4. Discuss the steps in obtaining electronic evidence. 5. To what are Concealment Investigative Methods primarily related? 6. Discuss the following concealment investigative techniques: a. Audits 7. What is Discovery Sampling and what are some of its pitfalls and challenges? 8. For what two purposes are Conversion Searches conducted? 9. From Chapter 9 select eight total investigative sources (two each from Governmental, Private, Online and Internet Search sources), and describe how you might use these in investigating fraud. 10. What is the The Net Worth Investigation Method? How and why is it used? ACC 556 Week 4 Impact of Corruption

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Write a 1,250-1,400-word paper on the impact of corruption on an organization of your choice in APA format with in-text citations and references. Include the following: ·

Who committed this corruption?

·

Why did they commit this corruption?

·

How did they commit this corruption?

·

How did they get caught?

·

What are the consequences and impact for the individual and the organization?

· What could have been done to lessen the likelihood of this type of fraud occurring at that time, and in the future? ACC 556 Week 5 Comparing the Impact

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ACC 556 Week 5 Comparing the Impact ACC 556 Week 5 Crooked Scenario 5

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ACC 556 Week 5 Crooked Scenario 5 ACC 556 Week 5 Memorandum Proactive Method of Fraud Detection


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INDIVIDUAL ASSIGNMENT Write a 600-800 word memo to your accounting committee on fraud detection discussing the 6 steps of the Proactive Method of Fraud Detection found in figure 6.1 of Chapter 6. Include methods to gather information about a business, questions that should be asked, and examples of fraud symptoms. Please use a memo format for this assignment and reference the Proactive Method of Fraud Detection from your textbook. Click the Assignment Files tab to submit your assignment as a Microsoft® Word document. ACC 556 Week 6 fraud symptoms and mitigation

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INDIVIDUAL ASSIGNMENT Prepare 7-10 Power Point slides discussing common business fraud symptoms and mitigation actions that can be taken to help deter and detect fraud. Choose some elements from Chapter 5: Recognizing the Symptoms of Fraud to discuss in your presentation keeping with the theme of the assignment. Please use the “Notes” section below each PowerPoint slide to explain your ideas clearly. ACC 556 Week 6 Short Answer Quiz


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Complete the Week 6 Short Answer Quiz. Click the Assignment Files tab to submit your assignment as a Microsoft® Word Document. Copy and paste the questions onto a Word document. Write a brief response using the information found in Chapter 4 and integrate it with what you have learned in the course this semester. Submit your assignment on the Assignments tab. · What does it mean to create a “Culture of Honesty, Openness, and Assistance?” Give an example from an organization with which you have been affiliated. · Codes of Conduct and Conflict of Interest Forms are often called “soft” controls. What does this mean? · What does it mean to have a good system of internal controls? Give some examples of internal controls. ·

Whistleblower policies and procedures? Good or bad idea? Why?

· Symptoms of fraud can be separated into six groups: (1) accounting anomalies, (2) internal control weaknesses, (3) analytical anomalies, (4) extravagant lifestyle, ·

(5) unusual behavior, and (6) tips and complaints. Discuss three.

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Discuss the elements of a good fraud report.

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What does “Tone at the Top” mean?

· Discuss the relative oversight responsibility of the audit committee, management, internal audit and independent auditors as it pertains to fraud. ·

Summarize the five steps of managing the Business Risk of Fraud.


Define and explain ERM.

What is a risk assessment? What are the steps to complete one?

Give some examples of how technology may be used in fraud prevention.

Explain FCPA and the U.K. Bribery Act. Why all the fuss?

Acc 556  

ACC 556 Crooked Scenario 2 Part 1 For more course tutorials visit uophelp.com is now newtonhelp.com www.newtonhelp.com Shortly after you...

Acc 556  

ACC 556 Crooked Scenario 2 Part 1 For more course tutorials visit uophelp.com is now newtonhelp.com www.newtonhelp.com Shortly after you...

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