2024 MSCPA Annual Convention: Details

Hold Your Horses! How Landmark Fraud May Have Been Avoided

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Saturday, September 21, 2024 @ 8:00am – 10:00am
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Description

What can we learn from one of the largest municipal frauds in U.S. history? Rita Crundwell stole nearly $54 million from the citizens of Dixon, Illinois over the course of two decades. This course examines circumstances that allowed this landmark fraud to occur. We will explore internal control deficiencies and other circumstances that hindered prevention or timely detection of Rita's scheme. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Prerequisites

None

Highlights

The major topics covered in this course include:

  • Key aspects of Rita Crundwell’s theft
  • Internal controls that could have prevented the theft
  • Internal controls that could have detected the theft in a timely manner
  • Independence in both fact and appearance
  • Lessons for CPA firms
  • Lessons for government agencies

Objectives

After attending this presentation, you will be able to...

  • Recall factors that allowed the Dixon fraud to occur
  • Identify internal controls that could have prevented the fraud
  • Recognize lessons that CPA firms should learn from this case
  • Analyze the intricacies of independence
  • Distinguish best practices for government agencies and other organizations that utilize employees

Preparation

None

Credits

Category Amount
Accounting&Auditing 2.00