Theft Conversion Investigation, Inquiry Investigation, and Fraud Reports
In this module, we focus on the concept of conversion, which is the actual monetizing of the fraudulent activity of the perpetrator. Please read the following scenario:
Your boss has presented you with a fraud case which occurred at a manufacturing plant of a major auto supplier. In this case, circumstantial evidence has been collected that indicates the plant manager has been incorrectly booking revenues and costs to increase the performance level of the plant, and thus increase the bonus payout for himself and the remainder of the plant leadership team.
You have been asked to employ the net worth method to provide evidence to support these claims. Available information includes the financial statements of the facility for the past five years and access to base activity information (invoices, etc.) to support the financial statements. Note: this information is not provided, you will develop your plan based on knowing the information is available.
How would you go about this investigation and why?
What key information would you request to support the analysis and why?
What specific steps would you take to identify the fraud and why? Integrate the specific Internet search tips in your answer
Chapters 9 & 10 in Fraud Examination
‘Bryan, D., & Quirin, J. J. (2018). The obvious fraud revisited: The admission-seeking interview. Journal of Business Case Studies (Online), 14(4), 69-96.
Cavico, F. J., & Mujtaba, B. G. (2017). Wells Fargo’s fake accounts scandal and its legal and ethical implications for management. S.A.M. Advanced Management Journal, 82(2), 4-19.
Albrecht, W. S., Albrecht, C. O., Albrecht, C. C., & Zimbelman, M. F. (2019). Fraud examination (6th ed.). Boston, MA: Cengage Learning.
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