Scenario
You are a forensic accountant who has been hired to investigate a fraud scheme at Green Glove Manufacturing. There is evidence that the vice president (VP) of operations has been colluding with a vendor, receiving illicit payments in exchange for awarding contracts for materials. These activities appear to have occurred over several periods, impacting the financial statements and jeopardizing the company’s reputation. The VP of operations authorizes all new vendors, and they are the sibling of the owner of Metallic Materials and Dyes. You are tasked with presenting the scope of the fraud by analyzing the financial statements to identify the financial impact and nonfinancial impact of this fraud scheme.
The skills practiced in this assignment will help to support you in your project.
Directions
Write an executive summary that determines the scope of a specific fraud scheme.
Specifically, you must address the following rubric criteria:
- Describe the fraud scheme in the scenario.
- Outline the potential scope of the fraud scheme in the scenario.
- Summarize the financial impact of the fraud scheme based on the evidence provided in the scenario. Include the following in your response:
- Amount of the fraud
- Impacted accounts
- Summarize the nonfinancial impact of the fraud scheme based on the evidence provided in the scenario. Include the following in your response:
- Reputation of the organizations
- Legal and regulatory consequences
- Relationships with stakeholders
What to Submit
Submit your milestone as a 3- to 4-page Microsoft Word document with double spacing, 12-point Times New Roman font, and one-inch margins. Sources should be cited according to APA style.
Supporting Materials
The following resource supports your work on this assignment:
Resource: Green Glove Manufacturing Fraud Evidence This document will provide the supporting evidence for this milestone.