Accounting Discussion:
To begin our study of accounting fraud, we will first take a look at some examples of recent events that have highlighted the need for accounting diligence and oversight. By Thursday of this week, search current news to find an article about a company that experienced an accounting fraud incident in the last three years. Summarize the article and include proper APA citation and reference list as part of your posting.
Some important focal points:
1. What was the nature of the fraud (occupational or managerial)?
2. Who were the key players?
3. How does the event fit the Fraud Triangle?
4. What was the end result?
Please do not duplicate articles, as we would like to examine as many discrete situations as possible.
As you develop your follow-up posts on each situation, consider the accounting trail that would have been left behind by those perpetrating this fraud. How would we detect this activity? Is it possible to learn from this event to detect similar activity in other organizations in the future?