An International Meeting of the American Accounting Association 2005 Annual Meeting August 7–10, 2005 San Francisco, California Come to the City by the Bay!

Effective Learning Strategies Forum
Tuesday, August 9, 2005

Session 27
Serving Local Businesses with Forensic Accounting Class Projects

Presenter:
Vicki Peden, California State Polytechnic University, Pomona

Description:
This session will focus on a Forensic Accounting class project where students learn important client service skills and serve local businesses. Student groups select an existing business and identify internal control weaknesses that would allow a fraud to occur. Students evaluate the existing controls of the business through research, observation, and interviews.

The student groups highlight these control weaknesses by designing a fraud that could be done by an employee or manager. The fraud design includes: a description of the personal attributes of the employee who would do the fraud, job description of the employee that would do the fraud, specific steps involved in the fraud, and steps that the employee would take to camouflage the fraud. The groups then create a custom fraud prevention and detection program, which addresses both the general nature of the client’s business as well as the particular red flags noted during the evaluation. Management of the business is given the fraud design as well as the detection and prevention plan to help them improve the internal controls in the business.

Session participants will learn about designing such projects so that students and business will obtain the maximum benefits.

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