how can the forensic fraud investitators discuss and solve the XYZ credit, business and finance homework help

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orggl123

Business Finance

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APA format graduate writings

Proper citations in APA format, such as author, year, p. or pp. or para number

APA format for references must have three or more

5 to 7 pages to write in a forensic fraud report in a template that will be included

Assume that you are on a team of forensic fraud investigators. You have been assigned to the following case:

For many years, XYZ Credit Union in central Wyoming provided financial support to many members of the West Lake community. The credit union issued loans and additional services that helped many in their community to fulfill their dreams; that is, until an internal auditor attempted to trace a sample of outstanding loans to a collection agency and found the names of at least 7 fictitious individuals and businesses. The employee immediately alerted the bank’s board of directors that something suspicious was going on.

The board of directors has contracted your team to find out what has happened.

As a team, you are tasked with preparing a formal forensic report that answers the following questions in detail:

  • What do you know about this crime?
    • What is the origin of this crime?
    • What areas of the company or individual assets were compromised?
    • What are the internal controls?
    • What are the external controls?
    • What crimes were committed?
  • What information do you need?
    • Who will you interview?
    • Devise a list of 5–10 critical questions that you will need answered.
    • Which accounting records will you need to investigate this case?
    • What are the external controls?
  • What is your plan for the investigation?
    • Which analysis will you perform to determine the cause?
  • What are your recommendations for the organization?
    • Based on what you learned in Phases 1–3, recommend solutions to deter crime.

On past three weeks of questions done in this course. This need to be put in the template attached and in a document format also.

Thanks

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Formal Forensic Report Template • • • • Recopy verbatim everything not in italics, and fill in the appropriate information where asked. Use specific technical terms, but provide clear explanations about them. Use the questions at the end of each scene as a guide for your analysis. Your report should be typed font size 12, Arial or times new roman, 1.5 spacing,
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I have used the template attachedPlease let me know if there is anything needs to be changed or added. I will be also appreciated that you can let me know if there is any problem or you have not received the workGood luck in your study and if you need any further help in your assignments, please let me knowCan you please confirm if you have received the work? Once again, thanks for allowing me to help youRMESSAGE TO STUDYPOOL NO OUTLINE IS NEEDED AS IT IS A TEMPLATE

Running head: FORENSIC FRAUD INVESTIGATORS
Topic: Forensic Fraud Investigators
Student name:
Instructor name:
Course name:
Date:

Forensic Fraud Investigators

2

To: Professor Nicole Wright
From:
Re: XYZ Credit Union: Case 23522

Introduction
The XYZ Credit Union is a firm known to deliver financial services to the residents of West Lake
Community for several years. The XYZ Credit Union operates the same manner that a bank operates and
offers its customers financial services like loans and credit advancements which make them attain their
dreams in life. The XYZ Credit Union continued with its services to customers until the number of
outstanding loans that could not get recovered increased.
According to McMillan, (2016), further investigations by the internal auditors indicated that the officers
had issued at several loans to fictitious people, as it got indicated from the non-existent borrowers. The
workers signaled the bank’s managerial board which led to the commissioning of the investigation into
the matter. It’s obvious that something was wrong and someone wasn’t performing his or her duty as
required of them.
The alleged fraudulent activity remained unnoticed for quite a long period and it’s the management to
blame because they entrusted its workers with the duty of issuing loans and performed no audits. Our
team got entrusted the duty and hopefully would unravel the people that had not delivered their duties
according to the firm’s expectations.

Forensic Fraud Investigators

3

Assessment
According to McMillan, (2016), the assessment involves a series of procedures performed with the
intention of revealing evidence that someone did not work as needed of them and the law implied on
the person as needed. The evidence is important because it would help resolve the court dispute once
the matter gets to court. The alleged people held culpable would get brought to book once the
information gets collected and evidence exists that they performed the fraudulent act.
The team must determine the exact number of fictitious names that occur in the register and the period
that the fraudulent act has taken place. It’s notable that the perpetrators must get traced to the
individual level. The information would then get prepared and presented to the court for trials and if
found guilty sentenced.
Analysis
The analysis would cover possible evidence around the suspects and their motives which made them
commit the fraudulent act. The investigations would dwell on the opportunities that gave room for such
acts. The team must determine if the acts took place singlehandedly or through a collusion by different
individuals in the firm. The analysis must focus on the evidence at hand, more so the fictions names that
occur in the register. A register cleanup must get performed assessing possible gaps and gave room for
the entry of non-existent customers. In the process the actual number of account holders in XYZ Credit
Union’s register would get assessed and evaluated against those that got issued with loans.
The importance of the assessment intends to obtain the actual data about the issued loans for any kind
of discrepancies. The information is important because it would let the team identify all names that are
not meant to exist in the register and then those names in the database issued loans under fictitious
details. The process is a difficult one to carry out but in the end the truth would get unraveled.

Forensic Fraud Investigators

4

Interview Questions


What do you know about this crime?
o

What is the origin of this crime?
The crime involves loans issued on behalf of XYZ Credit Union to non-existent
customers. The fraudulent act is highly probable it was an inside job that no person
from ...


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