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Today’s Topics. Why Studying Conversion is Important Sources of Information The Role of Net Worth Calculations Miscellaneous Articles and Cases Interviewing Techniques Types of Questions Shenanigan #2 Ethics for CPAs in Industry. Role of Conversion Analysis.

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today s topics
Today’s Topics
  • Why Studying Conversion is Important
  • Sources of Information
  • The Role of Net Worth Calculations
  • Miscellaneous Articles and Cases
  • Interviewing Techniques
  • Types of Questions
  • Shenanigan #2
  • Ethics for CPAs in Industry

FORENSIC ACCOUNTING - BA124 – Spring 2007 Slide 9-1

role of conversion analysis
Role of Conversion Analysis
  • Helps determine the extent of the fraud
  • Serves as a facilitation for confession

FORENSIC ACCOUNTING - BA124 – Spring 2007 Slide 9-2

sources of information study pages 247 255
Sources of Information(Study pages 247-255)
  • Variety of sources
    • Federal government sources
    • State government sources
    • Local government sources
    • Financial institution records
    • Public databases
    • Internet sources

Don’t try to memorize the details of these sources. Know how to use some of them.

FORENSIC ACCOUNTING - BA124 – Spring 2007 Slide 9-3

net worth method
Net Worth Method
  • For use in estimating “Funds from Unknown Sources”
  • Calculation:
    • Assets - Liabilities = Net Worth
    • NWc - NWP = Net Worth Increase
    • NWI + Living Expenses = Income
    • Income - Known Sources = Unknown Sources

FORENSIC ACCOUNTING - BA124 – Spring 2007 Slide 9-4

general interview guidelines
General Interview Guidelines
  • Be aware of the “crisis cycle”
  • Remain a people person
  • Engage rather than challenge
  • Conduct the interview as close to the event as possible
  • Plan for the interview
  • See text for demeanor (p.274) & language (p.274)

FORENSIC ACCOUNTING - BA124 – Spring 2007 Slide 9-5

types of questions
Types of Questions
  • Introductory
  • Informational
  • Assessment
  • Closing
  • Self Admission-use carefully

FORENSIC ACCOUNTING - BA124 – Spring 2007 Slide 9-6

interview facilitators
Interview Facilitators
  • Expectation fulfillment
  • Recognition
  • Altruism
  • Sympathy
  • Newness
  • Catharsis
  • Sense of meaning
  • Availability of rewards

Don’t try to memorize the details of this list. Know how to use some of them.

FORENSIC ACCOUNTING - BA124 – Spring 2007 Slide 9-7

interview inhibitors
Interview Inhibitors
  • Time demands
  • Ego threats
  • Etiquette
  • Trauma
  • Forgetfulness
  • Time-line confusion
  • Logic confusion
  • Unconscious behaviors

Unwilling

Don’t try to memorize the details of this list. Know how to use some of them.

Unable

FORENSIC ACCOUNTING - BA124 – Spring 2007 Slide 9-8

fraud reporting
Fraud Reporting
  • WFO Suggestion:
    • Summary
    • Chronology
    • Interview & Procedural Summaries
    • Admission information
    • Loss Assessment

FORENSIC ACCOUNTING - BA124 – Spring 2007 Slide 9-9

shenanigan 2 recording bogus revenue
Shenanigan #2-Recording Bogus Revenue
  • Technique #1:
    • Lack of economic substance
  • Technique #2:
    • Loans recorded as revenue
  • Technique #3:
    • Investment income as operating revenue
  • Technique #4:
    • Supplier rebates as future revenue
  • Technique #5:
    • Post merger deferred revenue

FORENSIC ACCOUNTING - BA124 – Spring 2007 Slide 9-10

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