![]() As mentioned in the Chapter, the AICPA and ACFE have developed standards for report writing. You will need to write the report using the guidelines presented in in Chapter 18. You will not write the report using an APA format. Please see the City of Dixon audited financial statements (attached). As with all financial investigations, follow the cash. Once you understand the definitions of the funds, you should then be able to identify the exceptions and red flags based on the actual flow of money among the funds. When analyzing the audited financial statements, you need to understand the definitions of the funds-how the funds should have been sourced and what expenses the funds could pay. Please use Chapter 18 in your textbook (attached) as a guide to writing this report. The report should also include specific recommendations for preventing this type of fraud in the future. Your report of investigation should include the following elements: Using the information you gathered in Case Study #1 (prior order #81671081 attached) and your analysis of the audited financial statements for the City of Dixon Ap(attached), write a report of investigation summarizing the evidence and estimating the fraud loss suffered as a result of the fraud scheme. You have been hired by the City of Dixon to investigate certain allegations relating to Rita Crundwell. “My only advice to our lawyer was don’t leave any money on the table, and I don’t think he did.”Ī: “Illinois Town Whose Comptroller Is Accused of Embezzling $53M Blames Auditors in Civil Suit”Ī: “Horse-loving ex-city comptroller who embezzled $54 million gets 19.For Case Study #2, you will continue to work with the Rita Crundwell case. “I didn’t know when we got into this thing exactly how it was going to come out. on Saturday after a marathon 17-hour-plus negotiation session brought home the bacon. He said he and attorney Devon Bruce, who represented the city, wound up having a steak dinner along the Chicago River at about 2 a.m. He called the settlement “a huge day for us” and said it would leave the municipality “in good shape” even after some $10 million in legal fees. ![]() ![]() Burke serves as mayor of the town of some 15,700 residents. The head of the Card firm could not be reached by the WSJ for comment. “Reaching a fair settlement for taxpayers is important to CliftonLarsonAllen.” Crundwell’s fraud continuing undetected, and the right thing to do is reduce the harm experienced by the taxpayers of Dixon and put this matter behind us,” he wrote. “We believe there was a shared responsibility that resulted in Ms. Gordon Viere, the CEO of CliftonLarsonAllen, said in a written statement that all parties affected by the Crundwell case should view it as an opportunity for evaluation of what happened. She embezzled a total of $54 million, authorities have said.Ī spokesman for the bank said it had settled without admitting liability, the Wall Street Journal reported. She also admitted money laundering, the Chicago Tribune notes. The town’s former comptroller, Rita Crundwell, 60, was sentenced in February to nearly 20 years in federal prison after pleading guilty to a single count of wire fraud. Fifth Third Bank and Sam Card Accounting will pay $2.85 million and $1 million, respectively, to settle the Lee County suit, the Wall Street Journal (sub. The bulk of the settlement, around $36 million, will come from accounting firm CliftonLarsonAllen, Northern Public Radio and the Daily Chronicle report. An Illinois bank and two accounting firms have agreed to settle for $40 million a lawsuit over a massive, nearly two-decade-long embezzlement by the then-treasurer of the city of Dixon, its mayor says.
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