How did fraud occur at Enron?

Hypothesis Development a) What frauds could occur within the Enron environment? How are these related to the specific company, the industry, and the economic
conditions as a whole? b) Of all of the employees, who would have incentives or opportunities to commit fraud? Why? c) Which of the employees who had the incentive or opportunity to commit fraud is in a position to cause the financial anomalies found? Explain
why. Investigation Planning a) Describe the process of how could you investigate the potential fraud and the appropriate steps to complete the process. b) What documents might you need? Who might you need to speak with regarding the fraud? Support your responses. c) Illustrate how regulatory issues such as Sarbanesâ??Oxley or SAS No. 99 would impact the investigation.
d) What other fraud risk inquiries are needed to investigate the suspected fraud? What steps would need to be taken to address these risk
inquiries?
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ACC 646 Final Project Milestone Three Guidelines and Rubric
Overview: Forensic accounting has been identified as the fastest growing area of accounting. Fraud examiners must understand the legal aspects of fraud and
what constitutes fraud. To be successful in this industry, they must be able to determine why people commit fraud and how to prevent it from happening.
Through this analytical process, examiners may then provide organizations with recommendations for improving their internal controls, thus preventing further
financial losses and additional harm to their reputations.
For Milestone Three, you will submit your hypothesis development and investigation plan for your company. Consider potential frauds and perpetrators in your
company, how the fraud could be investigated, regulatory issues, and any other fraud risk inquiries required. Once you have developed your fraud hypothesis,
propose an investigation plan. Describe the process of how you would investigate the potential fraud and all of the factors that must be considered for carrying
out the investigation.
Prompt: Develop a fraud hypothesis for your case and a plan for investigating the fraud.
Specifically, the following critical elements must be addressed:
III.
IV.
Hypothesis Development
a) What frauds could occur in the environment you researched? How are these related to the specific company, the industry, and the economic
conditions as a whole?
b) Of all of the employees mentioned, who would have incentives or opportunities to commit fraud? Why?
c) Which of the employees who had the incentive or opportunity to commit fraud is in a position to cause the financial anomalies found? Explain
why.
Investigation Planning
a) Describe the process of how could you investigate the potential fraud and the appropriate steps to complete the process.
b) What documents might you need? Who might you need to speak with regarding the fraud? Support your responses.
c) Illustrate how regulatory issues such as Sarbanesâ??Oxley or SAS No. 99 would impact the investigation.
d) What other fraud risk inquiries are needed to investigate the suspected fraud? What steps would need to be taken to address these risk
inquiries?
Guidelines for Submission: Your fraud hypothesis and investigation plan must be submitted as a 2â??3 page Microsoft Word document with double spacing, 12point Times New Roman font, one-inch margins, and at least three sources cited in APA format.
Rubric
Critical Elements
Proficient (100%)
Hypothesis Development: Explains what frauds could occur in the
Occur in the Environment environment researched and how they
are related to the specific company, the
industry, and the economic conditions
as a whole
Hypothesis Development: Determines which of the employees
Incentives or
would have incentives or opportunities
Opportunities
to commit the fraud and defends
response
Hypothesis Development: Determines which of the employees
Which Employees
with the incentive or opportunity to
commit fraud is in a position to cause
the financial anomalies found and
explains why
Investigation Planning: Describes the process of how the
Process
potential fraud could be investigated
and the appropriate steps to complete
the process
Investigation Planning: Determines what documents might be
Documents
needed and who might need to be
spoken to regarding the fraud and
supports responses
Investigation Planning: Illustrates how regulatory issues would
Regulatory Issues
impact the investigation
Investigation Planning:
Fraud Risk Inquiries
Determines what other fraud risk
inquiries are needed to investigate the
suspected fraud and the steps to
address these risk inquiries
Articulation of Response Submission has no major errors related
to citations, grammar, spelling, syntax,
or organization
Needs Improvement (75%)
Explains what frauds could occur in the
environment researched but does not
explain how they are related to the
specific company, the industry, and the
economic conditions as a whole or
explanation is cursory or contains
inaccuracies
Determines which of the employees
would have incentives or opportunities
to commit the fraud but does not
defend response
Determines which of the employees
with the incentive or opportunity to
commit fraud is in a position to cause
the financial anomalies found but does
not explain why
Describes the process of how the
potential fraud could be investigated
but description is cursory or lacks
important steps
Determines what documents might be
needed and who might need to be
spoken to regarding the fraud but does
not support responses
Illustrates how regulatory issues would
impact the investigation but does not
apply a variety of regulatory issues to
the case study
Determines what other fraud risk
inquiries are needed to investigate the
suspected fraud but does not determine
the steps to address these risk inquiries
Submission has major errors related to
citations, grammar, spelling, syntax, or
organization that negatively impact
readability and articulation of main
ideas
Not Evident (0%)
Does not explain what frauds could
occur in the environment researched
Value
14
Does not determine which of the
employees would have incentives or
opportunities to commit the fraud
14
Does not determine which of the
employees with the incentive or
opportunity to commit fraud is in a
position to cause the financial
anomalies found
Does not describe the process of how
the potential fraud could be
investigated
14
Does not determine what documents
might be needed and who might need
to be spoken to regarding the fraud
14
Does not illustrate how regulatory
issues would impact the investigation
14
Does not determine what other fraud
risk inquiries are needed to investigate
the suspected fraud and supports
response
Submission has critical errors related to
citations, grammar, spelling, syntax, or
organization that prevent understanding
of ideas
14
Earned Total
14
2
100%

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