Hi Duncan, few days ago you have helped me on fraud summaries, i need help on making a 3 slides power point on the last part of the summaries about prevention on this case, i need to talk and present about 2.5mins. could u please help me prepare the draft or script and the 2/3 slides power point.

ACC3FOA Name: Maxi soon yu sie 18807795, Yibei, Praj Tutor: Lachlan McDonald-Kerr Kwame M. Kilpatrick, Former Detroit Mayor, Sentenced to 28 Years in Corruption Case Kilpatrick is a former mayor of Detroit and served as a mayor in the city between 2002 and 2008. During this time, the mayor used the public funds for personal activities and is claimed to have spent billions of money (Yaccino, 2013). Kilpatrick was elected by the people of Detroit as the mayor of the city for two seasons and used his opportunity as a mayor to squander the public funds. Kilpatrick was accused of using the public funds unlawfully after it was found that he was running a criminal enterprise out of the mayor's office. He could not have committed the fraudulent activity alone as he was dealing with a large amount of money. He teamed up with four men namely Bernard Kilpatrick; Father of Kwame Kilpatrick, City Water Director Victor Mercado, his friend Bobby Ferguson, and Kwame, the mayor of the city of Detroit. Since he became the mayor, investigations showed that things went wrong and the fall of the mayor started. There is three evidence of the fraud triangle that was seen the case. Pressures, opportunities, and rationalizations of the mayor were seen in the case where the mayor was found guilty of squandering public funds. Pressure is seen as the mayor lived an expensive life. Since the election of Kilpatrick, he needs to live an expensive life beyond hi earning. The investigators stated that Patrick was living expensive life. He had increased demand for money to maintain his class and cater for his daily needs. Sources stated that he had flashy cars and security team that guarded him close to that of the president. His cars were expensive and used different cars on different occasions. Kwame had four mansions where he lived and were rented ACC3FOA which meant he had to pay $1795, $1650, $1850 and $1650 monthly. When his earnings as a mayor were investigated, it was clear that he could not afford the money. This is the pressure of desire and living large that increased and resulted in fraudulent activities to cater for his daily expenses. The opportunity was seen in the case after he was elected as a mayor. The first term as a mayor was involved with minimal cases of fraud and was taking the time to launch the real fraud that resulted in sentencing of the man in prison for 28 years. Being a mayor provided him the atmosphere to commit criminal activities and walk away with it as he was covered by his men. Through his men, he controlled the money in the city and managed to get the city activities running. Kilpatrick with the help of his people had the opportunity to hide their assets for investigations. However, due to the lifestyles lived by the people, it was clear that there were increased cases of fraud as they lived above their earnings. The position as a mayor was an opportunity for Kilpatrick to run the criminal enterprise and use the public funds. However, further investigation of the crime revealed that the man had no other sources of money rather than the public funds. His opportunity resulted in the violation of the city rules to earn money. Rationalization is the situation when a person commits fraud and thinks that he can get away with it due to his position or advantage over the public. Kilpatrick, after his first election, became a common figure in the news in the city of Detroit. His appearance in different stations showed that he was working for people of Detroit. He convinced the people that he could work for them and managed to get elected in his next term. He knew that he could manage to hid his assets and convince the people that he was working for them. However, there increased allegations of the activities and the lifestyle of the victim, which resulted in the court accused ACC3FOA him of corruption activities. When the evidence was analyzed in court, he was sentenced to eight years in prison. Reducing chances of crime and fraud can be achieved through the recording of transactions and reporting of the earnings. Also, the managers and leaders are the key fraudsters and through reporting of and declaring of the assets, the chances of committing fraud are reduced. Also, auditors would be involved in all the major offices to detect and report cases of fraud. In the case of Kilpatrick, if auditors were used during his term as a mayor, the beginning of the fraud would have been stopped as early indicators of the activities could have been identified. ACC3FOA References Yaccino, S. (2013, October 10). Kwame M. Kilpatrick, Former Detroit Mayor, Sentenced to 28 Years in Corruption Case. Retrieved from The New York Times: http://www.nytimes.com/2013/10/11/us/former-detroit-mayor-kwame-kilpatricksentencing.html Identification and Preventing Fraud PRESENTED BY: MAXI SOON YU SIE Reducing Fraud The following are the ways of reducing fraud; Knowing the employees Recording of transactions Preparing financial statements Independent Auditors Know your Employees Fraud is committed by employees from different management levels. The first step in working out fraud cases is knowing the employees. The Detroit Mayor Kilpatrick should have known all the employees in his office. Rather than using his friends and family members, he should have employed people in different departments and ensure transparency through communication and interaction with the employees. Interaction the office would have helped in the following ways: Share working experience and challenges Help each other in overcoming the challenges Identify a reporting strategy to the concerned bodies Recording of Transactions Fraud is caused by lack of accountability of the transactions in the business or organization. The receipts, deliveries and other business records should be prepared accordingly and signed by the management before they are carried out. In this case, Kilpatrick would have ensured that all the transactions were recorded and presented to the board for review. The following procedure should have been followed: Reviewing of the transaction documents before signing Forwarding the relevant documents to the top management/board Keep copies of the transaction documents Financial Statements Companies, organizations and states should have financial statements prepared either after six months or a year. The majority of the companies prepare them yearly. The financial statements will help in monitoring the progress of the company and the financial activities in the business for the whole year. The management of the mayor office in Detroit did not prepare financial statements that's showed how the public funds were spent. Financial statements should have been analyzed yearly and errors in the spending of the funds could have been identified. Auditing The state Detroit in the case of Kilpatrick, should have an independent team of auditors that could have helped improve the situation in the state. The auditors should be provided with the financial statements and investigate cases of fraud in the company(Chaudhry, 2015). Through an independent auditing team, auditing on spending on the public funds could have been done every year and the fraud would have been detected during the first year. He would have been accused of fraud earlier. However, he was elected twice and continued with the fraudulent activities as a mayor. References Chaudhry, A. (2015). Wiley 2015 : interpretation and application of International financial reporting standards. Hoboken, New Jersey: John Wiley & Sons,. ************The End************ Identification and Preventing Fraud PRESENTED BY: MAXI SOON YU SIE Reducing Fraud The following are the ways of reducing fraud; Knowing the employees Recording of transactions Preparing financial statements Independent Auditors Know your Employees Fraud is committed by employees from different management levels. The first step in working out fraud cases is knowing the employees. The Detroit Mayor Kilpatrick should have known all the employees in his office. Rather than using his friends and family members, he should have employed people in different departments and ensure transparency through communication and interaction with the employees. Interaction the office would have helped in the following ways: Share working experience and challenges Help each other in overcoming the challenges Identify a reporting strategy to the concerned bodies Recording of Transactions Fraud is caused by lack of accountability of the transactions in the business or organization. The receipts, deliveries and other business records should be prepared accordingly and signed by the management before they are carried out. In this case, Kilpatrick would have ensured that all the transactions were recorded and presented to the board for review. The following procedure should have been followed: Reviewing of the transaction documents before signing Forwarding the relevant documents to the top management/board Keep copies of the transaction documents Financial Statements Companies, organizations and states should have financial statements prepared either after six months or a year. The majority of the companies prepare them yearly. The financial statements will help in monitoring the progress of the company and the financial activities in the business for the whole year. The management of the mayor office in Detroit did not prepare financial statements that's showed how the public funds were spent. Financial statements should have been analyzed yearly and errors in the spending of the funds could have been identified. Auditing The state Detroit in the case of Kilpatrick, should have an independent team of auditors that could have helped improve the situation in the state. The auditors should be provided with the financial statements and investigate cases of fraud in the company(Chaudhry, 2015). Through an independent auditing team, auditing on spending on the public funds could have been done every year and the fraud would have been detected during the first year. He would have been accused of fraud earlier. However, he was elected twice and continued with the fraudulent activities as a mayor. References Chaudhry, A. (2015). Wiley 2015 : interpretation and application of International financial reporting standards. Hoboken, New Jersey: John Wiley & Sons,. ************The End************