Forensic Accounting case The facts in this case are true. For purposes of privacy, the university has been given the name University X The university has a very large student population. The number of enrolled students is about 50,000. The university offers both undergraduate and graduate degree programs As expected the number of undergrads is more than grads. Last year, the un registered about 20% increase in the number of enrolled students However, university registered a short fall of approximately 20% in projected revenue students' tuition fees. Analyses of financial statements reveal that expenditures versity from have the same over the years. Further analysis indicates that receivables in the balance sheet have changed significantly in comparison with prior years. The university has neither decreased nor increased tuition fees. The university has a policy of allowing students pay 60% of tuition fees before they are registered. Students are expected to pay the outstanding balance of 40% before they sit for end-of-semester exams. However, discretion is given to the college Deans to allow students who have not cleared to sit for exams even if they have not cleared payments provided there are mitigating reasons. Such students are expected to pay the outstanding amount before the following semester starts. Students who completely fail to pay the balance of 40% are allowed to sit for the number of exams that are equivalent to 60% payment on a prorated basis. To appear for exams, a student must present a clearance or permit from the office of the Registrar. Individuals that proctor the exams are supposed to verify authenticity of the permit from the Registrar before allowing students into the exam. Due to the financial constraints, graduate students who help in proctoring undergraduate exams have not been paid regularly. The Registrar's office does operate a computerized system for students' records. The software was developed by a staff in the Registrar's office. The Bursar's office does operate a computerized accounting and financial management system besides, a manual one. The Registrar's and the Bursar's computerized systems are not networked There is completely no communication between the two systems. Recently, a Computer Science graduate student who had managed to hack into the Registrar's system and altered grades of students who had bribed him was arrested. The crime was reported by one of the "beneficiary" students. As observed earlier, the Bursar's office operates a manual system side-by-side with a computerized one. This is done because there is frequent system failure of the computerized system. Besides, frequent power outage does not enable efficient operation of a computerized system. Because the university is in financial exigency, suppliers to the university are taking the university to court for breach of contracts. Everyone in the university is perplexed. The university what is going on. stakeholders cannot comprehend accountant. You The university stakeholders have agreed to seek services of a forensic have been engaged to do the task. Required: Apply your knowledge of forensic accounting to the facts given and investigate the problem described in the case study. If you need more information to be provided, then state additional information that you require. Provide recommendations on how to manage revenue in university X
