Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rev. LeClair (Father Joe) was a well knowpriest atBlessed Sacrament Parish in Ottawa. After a report alleging the church had lax financial controls and its

 Rev. LeClair (Father Joe) was a well know priest at Blessed Sacrament Parish in Ottawa. After a report alleging the church had lax financial controls and its popular clergyman had racked up large credit card bills, The Catholic Archdiocese of Ottawa hired an accounting firm to conduct an audit.

Please review this case and answer the following questions:

Once the issues were identified how would you go about investigating?

What were the red flags?

Review the fraud triangle and discuss the three key elements (opportunity, motivation, and rationalization) in relationship to this case?

Where did the opportunity exist to commit fraud?

What preventative measures need to be put in place to avoid issues in the future?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

1Investigating the Issues Start by obtaining and reviewing financial records including bank statements credit card statements and any other relevant f... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Theory

Authors: William R. Scott, Patricia O'Brien

8th Edition

013416668X, 978-0134166681

More Books

Students also viewed these Law questions

Question

What is the Keynesian rationale for a short-run Phillips curve?

Answered: 1 week ago