Green and Black Vehicle Dealership, LLP
Keywords:
Case Study, car dealership environment, inventory fraud scheme, unqualified audit report, forensic accounting, critical thinking, communication, interpersonal skillsAbstract
This case is set in the car dealership industry environment where collusion among employees facilitates a parts inventory fraud scheme. The fraud is discovered by the car dealership company’s personnel two months after receiving an unqualified (i.e. clean) audit report from their auditors. The car dealership company then hires another CPA firm to handle the fraud investigation and reporting.
The purpose of this fraud case is to give students hands-on exposure to a relatable forensic accounting situation that focuses on various aspects of the process from discovery through the issuance of a fraud report which is neither accusatory nor conclusive as to guilt. The design of the fraud case is such that it emphasizes the development of students’ critical thinking, communication, and interpersonal skills.
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