Final Update to my Database of 2012 Embezzlement Cases

Fraud-database-12-28-2012

For the complete story and all the others on this blog, visit Amazon and search for “Tales From The Trenches,” available after August 31st, 2020.



, , , , , , , , , , , , , , , , ,

6 Comments to “Final Update to my Database of 2012 Embezzlement Cases”

  1. Anthony says:

    Not sure a database is the best way to go. How about a thematic analysis of the frauds?

  2. Ricardo Atencia says:

    A database is good esp. in identifying the nature, organizations, staff, etc. committed the inappropriate acts but could be laborious in accumulating these.

    Comparing year-to-year through the databases would give an indication of the trends. This is perhaps the only benefit I could identify. However, identifying new trends in embezzlements and other inappropriate acts would likely trigger very good reactions or comments. Then again, identifying new trends appears to be dependent on having a good database.

    Being small group (is that right?), I can feel Benson’s frustration but feel the necessity of having the databases to monitor the trends.

  3. Mark says:

    Isn’t your database a look backward as well??, In my audits I have discovered fraud, I suppose it depends on how the audit is designed and what controls are tested. Many financial audits are designed to only “affirm” the “reasonableness” of the financial statements. So in that case fraud would not necessarily be discovered.

  4. Benson says:

    Certainly, the listing of cases I plucked from the internet is looking in the rear view mirror. Also, the method by which I located the stories was completely subjective. I tried to mix up the search terms between bookkeeper charged with embezzlement, manager charged with embezzlement, vice president charged with embezzlement, executive director charged with embezzlement, office manager charged with embezzlement, etc. But it’s clearly not a random or scientific sample. Nevertheless, I think it’s helpful to see as many cases as there are in one group, and still I think you can begin to look for patterns and try and draw some conclusions that can help going and looking forward.

    And I completely agree, a financial audit or review is NOT designed to discover fraud. In fact, I would go out on a limb and claim that many auditors hope very much that they will NOT discover any fraud. This may affect their performance of the audit.

    What I come away with is the belief that auditors and accountants and boards of directors and business owners are not giving the issue and concept of strong internal control the attention that it deserves. I think it points to an opportunity for some to exploit this need and to help their clients install effective deterrents to this scourge.

Leave a Reply

This entry was posted on December 28, 2012 and is filed under Fraud and Embezzlement. Written by: . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.