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Week 7 - Standardized Assignment Standardized Assignment...

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Standardized Assignment Standardized Assignment Michelle Knight Strayer University Forensic Accounting – ACC 571 Nauri D. Ahmed February 18, 2011
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Standardized Assignment After reviewing the provided information from Torpus, I think that there is some form of financial statement fraud. With the information provided by Mr. Ronald Thump, the CEO, there are far too many coincidences as they pertain to the financial documents need. Mr. Thump is seeking a loan for the expansion of his business, and the bank is requiring that an audit be done due to the dramatic increases in the company’s profits over the past few years. One issue is that the company’s accountant had an instance where his computer crashed, which caused the last two years of income statements to be lost. Not only did his computer crash, but he is on vacation for two weeks. Next, Mr. Thump is only able to provide printed copies of the balance sheet. Mr. Thump assured me that he can have the income statements reconstructed for me, although the accountant is on vacation. Mr. Thump expressed that he needs the audit to be completed within two weeks. Lastly, when a meeting was set up Mr. Thump stated that he needed it to be quick, as he did not have much time available. (Forensic Accounting, 2008)
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