Forensic Accounting Challenge
The nefarious managers of WorldRon are at it again! WorldRon Corporation, a business solutions company, has not been doing well financially for the past several years. However, since 2003, WorldRon's financial health has taken a U-Turn and sales have been increasing. Although the company's board of directors is happy with the results, they are a little suspicious of what upper management is up to, and has hired you, an expert forensic accountant, to examine WorldRon's 2005 financial records. You will have two days to come up with as many red flags as you can with your team by examining email threads, journals, watch a live management meeting, and many more.Task: Spot as many red flags as you can from the information given to you throughout the conference. RELY ON THE GIVEN DOCUMENTS ONLY; DO NOT CREATE ASSUMPTIONS OUTSIDE OF WHAT IS STATED. At 1:15p.m. on Saturday, you and your team will submit a written solution stating what your team found and the clues that led to your conclusion.
Team: We hope you can meet as many students from other chapters as you can through this challenge. Therefore, all teams are randomly selected and reviewed to ensure that each member of the team is from a different chapter. One exception to this rule is if a particular chapter has significantly less participants than that of other chapters. When you register on Friday, you will receive a nametag stating what group you are in. It is then your responsibility to find the rest of your group (although there will be signs on the Friday night cruise to make this process easier).
Prizes: The top three teams with the highest number of accurate red-flags will receive prizes. There will also be a raffle prize that every team who submits a written solution is eligible for. Therefore, we encourage you to submit a written solution even if you feel that your team does not have the perfect solution! The winners will be announced during the closing ceremony on Saturday.
Good Luck!
Downloads
- Forensic Challenge Introduction
- WorldRon Financial Statements - Cover
- WorldRon Financial Statements - Excerpts