This set up a perfect fraud triangle in that the

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This set up a perfect fraud triangle, in that the employees had the access to open accounts, pressure from management to get more accounts open, and rationalization because “everyone else is doing it.” (Schuchter & Levi, 2016) Fraud Detection Unfortunately, this kind of account fraud doesn’t really show up on financial statements or ratio analysis. The accounts were opened the same way as fraud as they would have been legitimately, so the financial statements look the same. The auditing firm responsible for Wells Fargo, KPMG, gave Wells Fargo clean audits during the entire time this was happening. (Whitehouse, 2017) What little they did find was reported to the appropriate members of management, and multiple employees were fired for their activities after an internal investigation during 2013 and 2014. It is unknown if KPMG uncovered the true depth of the fraudulent activity that was taking place.
REVENUE ANALYSIS 3 References Schuchter, A., & Levi, M. (2016, April). The Fraud Triangle revisited. Retrieved from %3ai3h&genre=article&issn=09551662&ISBN=&volume=29&issue=2&date=2016040 1&spage=107&pages=107- 121&title=Security+Journal&atitle=The+Fraud+Triangle+revisited.&aulast=Schuchter %2c+Alexander&id=DOI%3a10.1057%2fsj.2013.1&site=ftf-live Whitehouse, T. (2017, November). What happened inside Wells Fargo? Retrieved from ? vid=0&sid=00808c9c-f0a5-4c1e-a494-aa362d938c95%40sessionmgr101 Wikipedia. (2017, October 4). Wells Fargo. Retrieved November 19, 2017, from

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