Is it possible for one person to steal over $53 million from a city with an annual budget of less than $10 million? Yes. The Rita Crundwell story provides a cautionary tale for small businesses, governments, and nonprofits.
Are you using substantive analytical procedures in your audits? Many auditors rely solely on tests of details when a better option is available. Substantive analytics, in some cases, provide better evidential matter. And they are often more efficient than tests of details.
Please enjoy the first chapter of “The Little Book of Local Government Fraud” by Charles Hall, CPA. An fun-to-read and informative self-study course available at Yellowbook-CPE.com. Objectives: Identify common characteristics of fraudsters Identify various types of fraud schemes Before we dig into fraud at the ground level of individual transactions, let’s take a look at local government fraud […]