Identify a case of corporate financial fraud by finding a current event or by researching historical cases.
- Briefly summarize the case, including what happened, who was involved, and what damages were incurred.
- Note how the fraud was detected and discuss any red flags that appeared prior to detection.
- Could an accounting and finance system have helped deter this fraud? If yes, how? If no, why not?
- Are there any specific business policies and procedures that could have been in place that would have prevented the fraud from occurring? Explain.