Overview

The incidence of fraud in the news has become more common in recent years. As the accounting profession becomes more aware of fraud schemes, it seems that the criminals who perpetrate them have become more creative. The challenge for accountants is to stat ahead of the criminals, but is this possible?

Instructions:

Review the Journal of Accountancy article on Criminal Minds and answer the following questions:

Recently the accounting profession has seen legislation that is intended to prevent many of these frauds. Do you think that legislation might have prevented any of the frauds in this article? If so, which ones and why? If not, why not?