Attestation Update – A&A for CPAs

Technical stuff for CPAs providing attestation services

Posts Tagged ‘tragedy of fraud

Price cut on print books

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I’ve dropped the prices for the print copies of my books available at Amazon, Barnes & Noble, and iTunes store.

Here is what you can find on-line:

tragedy-cover

 Tragedy of Fraud – Insider Trading Edition

Story of Scott London’s fall from regional audit partner at KPMG to prison inmate because of his insider trading.

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Tragedy of Fraud series now available in print as well as e-book formats

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tragedy-cover   tragedy-cover

 

Both books in my Tragedy of Fraud series are now available in print format from Amazon.

The newest book:

tragedy-cover

Tragedy of Fraud – Insider Trading Edition describes – Scott London’s long fall from Big 4 audit partner to prison inmate.

Click the link for your reading preference:

First book in the series:

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Tragedy of Fraud – The Ripple Effects from Fraud and the Wages Earned – Consequences of fraud spread far. There is a long list of well-earned wages from fraud that will be paid in full.

Available in your preferred format:

Written by Jim Ulvog

October 6, 2014, 7:53 am at 7:53 am

Tragedy of Fraud series available soon in print

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tragedy-cover   tragedy-cover

 

In a few days, printed copies of the two books in my Tragedy of Fraud series will be available in print at Amazon.

(Update: Available now.)

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Written by Jim Ulvog

October 2, 2014, 7:48 am at 7:48 am

Upland bribery case – All four have been released from prison

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Time for my semi-annual followup on the location of the defendants in the bribery case in Upland, the city just west of where I live.

The ex-mayor has been released from federal prison.

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Written by Jim Ulvog

July 10, 2014, 7:05 am at 7:05 am

Posted in Fraud

Tagged with ,

2 more case studies in tragedy of fraud

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For a couple of years I’ve been looking at a few specific fraud incidents as case studies of fraud in general. It has been fascinating to dive deep into an embezzlement at a nearby megachurch and a corruption case in a nearby city. I’ve blogged about those extensively and even turned my blog posts into an e-book, Tragedy of Fraud.

Two more case studies have surfaced — one I’ll just mention and the other I’ll see what I can find for several more posts.

(Cross-posted from my other blog, Nonprofit Update, because this is valuable for CPAs as well.)

“Googlable”

Here’s a consequence of fraud I’d not pondered before:

Explaining to your young children that mommy is a felon before they have the opportunity to start searching the internet. Better to explain your record before they read about it.

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Written by Jim Ulvog

February 1, 2014, 18:26 pm at 6:26 pm

Posted in Fraud

Tagged with

eBook ‘Tragedy of Fraud’ now available in multiple formats

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Fraud has tragic effects on innocent people who didn’t commit the fraud. The person who did the deed will pay a severe price far beyond what the judge imposes. Just like a stone thrown into a pond causes ripples all across the water, so a fraud ripples out to cause all sorts of harm.

tragedy-cover

Only 99 cents.

Available in Epub for iPad, iBooks, Nook, and Sony Reader.

Also in mobi for Kindle, PDF for desktop reading, and 5 other formats.

Newest versions can be found here.

Has been available at Amazon since February.

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Written by Jim Ulvog

November 21, 2013, 9:50 am at 9:50 am

Fraudster tells her story

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I’ve previously discussed the journey through fraud, jail, and rebuilding taken by Mrs. Amy Wilson. You can see my posts here.

She is providing speaking engagements to make money to repay her victim.  She has a new website set up at Forged Redemption, LLC.

If you are interested in studying one specific fraud incident to help yourself learn about fraud, check out her site. Likewise if you are looking for a speaker.

I like the graphic at the bottom of this page – it has three pictures of her at different points in time with a description of each stage: Read the rest of this entry »

Written by Jim Ulvog

July 10, 2013, 8:40 am at 8:40 am

Posted in Fraud

Tagged with , ,

Failing the front-page-of-The-Wall-Street-Journal test twice in one week

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“How will this look on the front page of the Wall Street Journal?” is a handy question to use when pondering what to do about an accounting or auditing issue. It’s useful for any business decision.

I’ve used that for myself and as an illustration for clients and other people I’m talking to. It provides a good way to frame up how a decision will look to other people.

For the second time this week, Mr. Scott London, formerly a partner at KPMG, has seen how this question plays out.

The front page of the Wall Street Journal today has a headline across three columns:

Secret Recordings,

Cash in Insider Sting

How would you like to be the subject of the article?

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Written by Jim Ulvog

April 12, 2013, 12:00 pm at 12:00 pm

Consequences – insider trading edition #1

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Let’s examine the consequences on the horizon for Mr. Scott London, former KPMG partner, as a result of his indictment for allegedly trading on insider information. I’ve discussed that here and here.

For some time I’ve been writing on the tragedy of fraud with a focus on the consequences that befall the perpetrator. I’ll continue that discussion by looking at the public reports for this situation.

Is possible jail the only bad thing on the horizon? Not quite. There’s a long list of bad things in view.

As you read this, keep in mind my comments include a mixture of reported facts and my guesses & assumptions. I’ll try to label the discussion accordingly.

Let’s explore the consequences, assuming the reality is the same as what has been reported. Here’s the list I can think of:

  • Jail time
  • Criminal fines
  • Legal fees for criminal case
  • Civil fines
  • Criminal tax enforcement
  • Publicity
  • Loss of employment
  • Loss of reputation
  • Loss of professional license
  • Limited future employability
  • Litigation from employer
  • Legal fees for civil litigation
  • Financial devastation

Jail time

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Written by Jim Ulvog

April 12, 2013, 10:24 am at 10:24 am

Posted in Audits

Tagged with ,

Fraud Triangle – a case study

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Amy Wilson’s story of her embezzlement and the journey she has taken since then provides insight to the fraud triangle.

That’s the concept which says for a fraud to flourish, three factors need to be present:

  • Opportunity – the ability to do something wrong. Usually this is accompanied by the ability to hide doing so or get away with it undetected.
  • Motivation – the need to do something wrong.
  • Rationalization – the ability to persuade oneself that this isn’t fraud.  This isn’t wrong. In fact, taking this money is perfectly okay.

In this situation, her opportunity to commit fraud is quite visible. 

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Written by Jim Ulvog

March 26, 2013, 8:58 am at 8:58 am

Posted in Accounting, Fraud

Tagged with , ,

Tragedy of fraud – another case study – 2

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Previous post started a discussion of the consequences of Amy Wilson’s embezzlement story told here. These two posts are another case study of the tragedy of fraud.

I’ve discussed the consequences of fraud extensively on my blog. Even compiled those posts into a book, available at Amazon.

Let’s wrap up a review of the consequences earned by Mrs. Wilson and the impact on innocent people she loves.  Here are more things visible in her article:

I’m guessing this covers sentences a lot of ground: Read the rest of this entry »

Written by Jim Ulvog

March 20, 2013, 8:34 am at 8:34 am

Tragedy of fraud – another case study – 1

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Let’s look at Amy Wilson’s embezzlement story, explained here, as another case study of the tragedy of fraud.

I’ve discussed the consequences of fraud extensively on my blogs. Check out the tags here and here . Even compiled those posts into a book, available at Amazon.

Let’s look at some of the consequences Mrs. Wilson has endured and the impact on innocent people she deeply cares about.  Here are some things visible in her article:

She is a convicted felon. I doubt that record will ever go away. Accountants rarely have the political juice to persuade a governor or president to grant a full pardon.

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Written by Jim Ulvog

March 18, 2013, 8:54 am at 8:54 am

Trust is not an internal control

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It is just a feeling.

That is Amy Wilson’s explanation as she describes her journey through embezzlement into recovery as told in this earlier post. Thanks to Mrs. Wilson for granting me permission to reprint her article.

Her article is very good. It is so well constructed that we can analyze it in detail. I’ll have several posts to draw out my reactions to her article.

Trust is not an internal control

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Written by Jim Ulvog

March 13, 2013, 10:53 am at 10:53 am