August 5 2008 Accounting Newsletter
Book Review - Becoming an Expert
Forensic accounting is challenging but rewarding. Forensic and Investigative Accounting is a valuable tool for those who want to gain status in the accounting and legal communities.
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Current real world case: A controller resigned when he realized that a large fraud scheme was taking place in his organization. Soon after he contacted the US State Attorney's Office.
The CFO was falsely inflating the company's sales and inventory. As a result, investors lost more than $100 Million.
Because of the controller's actions, the CFO of that organization was sentenced to 15 years in prison and six employees or customers who participated in the fraud also pled guilty in the scheme.
I hope to hear from you sometime soon, either in the forum or in response to this email message. I thrive on your feedback!
Have fun passing this message along to family and friends, because we all love free knowledge!
Consuelo Herrera, CAMS, CFE, Accounting Editor
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