Fraud quiz

https://www.journalofaccountancy.com/news/2021/dec/quiz-fraud-considerations-audit.html

Wirecard - fraud article

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3652197

A short five question fraud risk quiz

https://www.journalofaccountancy.com/news/2020/dec/quiz-audit-fraud-risk-during-coronavirus-pandemic.html

Pandemic and audit fraud risk

https://www.journalofaccountancy.com/news/2020/dec/auditing-fraud-risk-during-coronavirus-pandemic.html

KPMG cheating scandal followup

https://www.goingconcern.com/ex-kpmg-partner-given-slap-on-the-wrist-from-judge-during-cheating-scandal-sentencing/

Wirecard and fraud prevention

https://www.wsj.com/articles/after-wirecard-ernst-young-says-auditors-should-focus-more-on-fraud-prevention-11600167893?mod=djemCFO

Wirecard issues

https://www.wsj.com/articles/wirecards-former-ceo-markus-braun-is-arrested-11592901759 * Summary: * “Wirecard AG, one of Europe’s biggest and fastest-growing fintech companies, said auditors can’t locate more than €1.9 billion ($2.1 billion) of its cash.” The company has delayed publication of its 2019 annual report after auditors EY could not obtain confirmations from banks holding deposits in trust accounts. Problems obtaining confirmations from these banks had previously been discussed by KPMG LLP in connection with their engagement to perform a special audit in October [2019] “in response to a string of allegations about fake revenues, falsified accounting and other matters, including some made in an unsigned report posted on the internet.” * Classroom Application: * The article may be used in an auditing class discussing confirmations or responsibility to detect fraud. Many articles have been published since this announcement about the inability to obtain confirmations, most recently that the former CEO Markus Braun has been arrested, and released on bail, located at https://www.wsj.com/articles/wirecards-former-ceo-markus-braun-is-arrested-11592901759 * Questions: * · What is a fintech company? Try to glean the definition from the article, but also cite any source you use for the definition. · What is the importance of confirmations as audit evidence in an attestation engagement over financial statements? · Describe the process for obtaining audit confirmations. · What happened to confirmations of the cash balances held by Wirecard AG? · As described in the article, what is the implication for Wirecard AG if its auditors cannot provide an opinion on the company’s financial statements? "Payments Giant Wirecard’s Shares Plunge on $2 Billion Audit Deception," by Paul J. Davies,* The Wall Street Journal*, June 18, 2020 https://www.wsj.com/articles/payments-giant-wirecards-shares-plunge-on-2-billion-audit-deception-11592474551

Lapping cash receipts - and caught

https://www.justice.gov/usao-cdil/pr/grand-jury-indicts-former-administrator-supervisor-illinois-secretary-state-department A form of lapping at Illinois Secretary of State
https://www.thecentersquare.com/illinois/former-illinois-secretary-of-state-official-accused-of-fraud-and-theft-totaling-350-000/article_d073f50a-a69c-11ea-97f4-5f440c75a9ab.html https://newschannel20.com/news/local/former-sec-of-state-office-supervisor-indicted-for-fraud-scheme https://www.wcia.com/news/woman-indicted-on-defrauding-il-secretary-of-states-office-il-dept-of-revenue/

Rita Crundwell seeks "compassionate release" from prison

https://www.forbes.com/sites/kellypope/2020/05/09/will-jailed-dixon-embezzler-be-released-from-federal-prison-maybe/#598d57c56cb5

Check out the letter she wrote included in the above article.

https://www.kwqc.com/content/news/Former-Dixon-comptroller-serving-federal-prison-sentence-requests-early-release-570355371.html

Fight fraud during coronavirus pandemic

https://www.journalofaccountancy.com/podcast/how-cpas-can-fight-fraud-during-coronavirus-pandemic.html

Catherine Pugh sentenced - former Baltimore mayor

https://www.bbc.com/news/world-us-canada-51667665

Fraud IQ quiz

https://www.journalofaccountancy.com/issues/2020/feb/employee-fraud-hygiene.html

Bribery red flags

https://www.fm-magazine.com/news/2019/sep/bribery-risk-red-flags-201921561.html

GE and fraud?

https://www.msn.com/en-us/money/companies/ge-plunges-after-whistleblower-calls-it-a-bigger-fraud-than-enron/ar-AAFQjYf?ocid=se


https://www.wsj.com/articles/ge-is-new-target-of-madoff-whistleblower-11565866617?mod=djemCFO


https://www.gefraud.com/

Fraud quiz for small buisness

https://www.journalofaccountancy.com/issues/2019/jun/fraud-iq-quiz-small-business.html

Scammers target ACH transactions

http://www.cfo.com/fraud/2019/04/scammers-target-ach-transactions/

Why Do Some People Commit Fraud? Psychologists Say It's Complicated

https://www.forbes.com/sites/sarahwatts/2019/03/21/the-psychology-behind-scamming/#1def55643447

Sentencing related to fraud scheme

https://www.justice.gov/usao-ma/pr/boston-woman-sentenced-27-million-bank-fraud-scheme

Fraud victim

https://www.accountingweb.com/practice/clients/what-is-the-real-cost-to-a-fraud-victim?source=ei111418

Fraud quiz

https://www.journalofaccountancy.com/issues/2018/nov/fraud-iq-quiz-financial-reporting.html