So what do I suggest if I think the triad of fraud “guidance” is a crock? Good question. In an accounting/auditing engagement, what would I recommend as guidance in considering the risk of fraud? First, I would create at least 2 major and wholly independent categories of fraud. Material, willful, financial statement fraud [...]
Over the years, I’ve spent a great deal of time doing basic maintenance on my vehicles. Enough so that there should be a huge pile of money somewhere representing the repair costs I’ve avoided. I keep looking for it but can never find it. Recently, Volvo brake light goes out. Take a look and see [...]
Trick question. In some respects, there is very little difference. Let’s enjoy this news tidbit from today’s reports: From FoxNews, March 14, 2013 – “TALLAHASSEE, Fla. – Florida’s lieutenant governor resigned and nearly 60 other people were charged in a scandal involving a purported veterans charity that authorities said Wednesday was a front for [...]
http://connecticut.cbslocal.com/2012/11/15/cable-exec-charged-with-embezzlement/ Here is another small non-profit organization victimized by poor internal controls and bad management. Good management does not tolerate bad internal controls. BOLTON, Conn. (AP) _ Bolton police say the former president of a public access TV station embezzled nearly $380,000 since 2007. The Journal Inquirer reports that Deborah Hilton of Bolton surrendered to [...]
