Find The FraudCrack the Case

The news is filled with financially fraudulent fiascos and some of the most high-profile, high-stakes cases are handled by the Federal Bureau of Investigation. The FBI has more than 2,000 accountants on its payroll. While some focus on more conventional finance and accounting functions, even more use their accounting know-how to investigate financial crime and help put bad guys behind bars. It's a tough job, but fascinating.

YOUR TASK: Research a financial fraud case that the FBI solved that interests you. Not sure where to start? Try www.wsj.com, www.nytimes.com or www.forbes.com. Once you have identified a case, answer the following questions and be prepared to share your answers with the class:

1. Describe the basic details of the case. What was the crime? When did the crime(s) occur? Where? Who was involved? What was the outcome?
2. Why would accountants be essential to solving this case?
3. List 3 accounting skills that the accountants involved in the case would have needed to demonstrate to succeed in solving this case.
4. What were the impacts of this financial scandal? Changes to GAAP? Changes in laws?

** the subject of your post should be your name - the company you selected