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ACC 556 Crooked Scenario 2 Part 1
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ACC 556 Crooked Scenario 2 Part 1

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Shortly after you completed your work of unpacking all the players in the CrookEd Partners drama and identifying all potential fraudulent activity that had been relayed to you (Week One Scenario Assignment), your secretary came into your office and said you had a visitor.  You inquired who it was and she said it was an accountant, C.H. Ainge O’Hart (Chainge ‘O Hart) from a local CPA firm, Inn, Kaw, Hoots (IKH).  You were familiar with this firm and familiar with their reputation.  You also know they were the external auditors and business advisors for CrookEd Partners, as mentioned by Bubba.   

You immediately dropped what you were doing and rushed out of your office to meet Mr. Hart.  He is escorted into a private office where you also invite your team.

 

Mr. Hart was obviously nervous and sweaty, so you offer him something cool to drink.  Almost before you could sit down and begin to inquire why Mr. Hart has joined you, he blurts out that one set of the financial statements he provided Steamy and Daddy were correct and one set was wildly incorrect.  The one created by CrookEd Partners is false; the one by Inn Kaw Hoots is correct.   

 

He had tried to bring this information to local authorities, Steamy and Daddy, and others, and when he had done so, he was threatened with his life by the partners of his CPA firm (they did not want to lose a “good” client), by someone named “Tony” from one of the local unions, by the state head of the Department of Professional Licensing who licenses CPAs, and finally by a CRookEd Partner VP.

To avoid being discovered he had recently been living in Vegas as a showgirl, doing two shows a night; three on the weekends. 

 

This story sounded so preposterous you request some proof.  Mr. Hart stated he had the depreciation schedule CRookEd Partners created for the bogus balance sheet they are planning to present to the bank to secure a loan to buy equipment for the second phase of this project: a combo pipeline/waterslide from Rock Springs to Laramie, Wyoming.

 

There are two team assignments related to the Crooked scenario this week.

 

Part 1:

Based on the depreciation schedule given to you by Mr. Hart (see attached), and with your team, please perform an analysis on it using concepts from Fraud Examination, 5th Edition Chapters 11 – 13 and from Executive Roadmap to Fraud Prevention and Internal Control: Creating a Culture of Compliance, 2nd Edition, Chapter 6 (Reading for this week). 

 

 

Create a 350-700 word page for the instructor outlining what you observe in this data.

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