The case of the frequent flyer fraudster

WrecksAll Drug Company is a fraud investigation case in which students use financial and nonfinancial data to develop and test hypotheses related to irregularities in deposits. The case teaches the proper sequence of activities in conducting a fraud investigation and how to identify sources of evidence useful in evaluating fraud hypotheses. Students get hands-on experience in analyzing a large dataset using Excel and drawing and supporting conclusions about the case using the data and other evidence obtained in the case.

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WrecksAll Drug Company

Prewett

Schaefer

Wengler

2019

Issues in Accounting Education

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Two Truths and a Lie: Introduction to Deception Detection

Davidyan

Huels

Gissel

2023

Issues in Accounting Education

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A plethora of research exists relating to active student learning, engagement, and pedagogical best practices. Unfortunately, related to auditing and forensic accounting, there are not many classroom activities that align the aforementioned areas. This activity bridges said gap with an engaging exercise using the well-known “two truths and a lie” game. The activity’s learning objectives include: (1) identifying common signs of deception that may be present in interactions during auditing or forensic accounting engagements, (2) demonstrating ability to determine when an individual may be using deception in interactions, and (3) demonstrating professional writing skills. Students create a short, simple video as a base for the activity, then engage in a subsequent review of assigned materials, group discussion, and an individual written self-reflection. Implementation results indicate this activity is a valuable learning experience, increases student knowledge about deception detection, and provides a unique platform for students to explore cues of deception.

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Classifying Internal Control Deficiencies: The Case of Magnum Hunter Resources Corporation

Bucaro,

Keyser

2024

Issues in Accounting Education

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Magnum Hunter Resources Corporation (MHRC) was an oil and gas company headquartered near Dallas, TX. Although the company grew rapidly through acquisitions, the accounting department did not keep pace with the company’s growing size and sophistication. Management identified this as an internal control deficiency (ICD) prior to issuing the 2011 financial statements but did not disclose it because management underestimated its severity. The company later disclosed multiple material weaknesses when it restated its financial statements. This case study is designed for use in the undergraduate or graduate audit classroom to examine the classification and disclosure requirements for ICDs. After completing this case study, students will be able to apply professional standards to classify ICDs; critique the decision-making process of management, consultants, and auditors tasked with evaluating ICDs; and consider the impact of material weakness disclosure on investors. JEL Classifications: M41; M42.

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The case of the frequent flyer fraudster

Cited by 3 publications

References 1 publication

WrecksAll Drug Company

WrecksAll Drug Company

Two Truths and a Lie: Introduction to Deception Detection

Classifying Internal Control Deficiencies: The Case of Magnum Hunter Resources Corporation

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