It has been a while since Bernie Madoff has been in the news, but we should never forget the lessons learned and appreciate that since the invention of money, criminals have been trying to steal it. This lab will provide an opportunity to practice detection skills and devise robust controls.
• Understand how misappropriation schemes are perpetrated
• Learn to differentiate between internal and external threats
• Discuss robust policies, procedures, and internal controls
• Examine case studies to learn from the misfortunes of others