2-1 According to this chapter, what employment trends are expected for professionals in the fields of fraud examination and financial forensics? Why? 2-3 What role do fraud examination and financial forensic skills have in the corporate governance area? 2-6 Other than accounting, which disciplines do fraud examination and financial forensics encompass? 2-7 What is the role of research in the fraud examination and financial forensics professions? 3-2 Compare and contrast Cressey’s and Albrecht’s theories of crime causation. 3-6 Explain the relationship between an employee’s position and the level of theft (according to Hollinger and Clark’s research). 3-8 Describe corporate governance breakdowns in the facilitation of Enron’s fraudulent acts. 3-9 Identify ethical issues, conflicts of interest, and noncompliance with corporate policies and procedures in the Enron case. Part 2: Short Case: Respond to the questions asked at the conclusion of the following case: Sarah Ferguson worked for Hawks Consulting Group (HCG) as the executive secretary in the administrative department for nearly 10 years. Her apparent integrity and dedication to her work earned her a reputation as an outstanding employee and resulted in increased responsibilities. Her present responsibilities include making arrangements for outside feasibility studies, maintaining client files, working with outside marketing consultants, initiating the payment processes, and notifying the accounting department of all openings or closings of vendor accounts. During Sarah’s first five years of employment, HCG subcontracted all of its feasibility and marketing studies through Cambridge and Company. This relationship was subsequently terminated because Cambridge and Company merged with a larger, more expensive consulting group. At the time of termination, Sarah and her supervisor were forced to select a new firm to conduct HCG’s market research. However, Sarah never informed the accounting department that the Cambridge and Company account had been closed. Because her supervisor allowed Sarah to sign the payment voucher for services rendered, Sarah was able to continue to process checks made payable to Cambridge’s account. Because her supervisor completely trusted her, he allowed her to sign for all voucher payments less than $10,000. The accounting department continued to process the payments, and Sarah would take responsibility for distributing the payments. Sarah opened a bank account in a nearby city under the name of Cambridge and Company, where she would make the deposit. She paid all of her personal expenses out of this account. Assume that you have been hired by Hawks Consulting Group to help detect and prevent fraud. What internal controls are missing in Sarah’s company? What opportunities gave Sarah the opportunity to perpetrate the fraud? How could this fraud have been detected?
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