FORENSIC ACCOUNTING (ACC3FOA) Assignment Questions Semester 1, 2019Word Limit: 1000 words Question 1 You have recently been introduced to Laura Spencer, who is the Chief Financial Officer (CFO) of a services firm that specialises in providing on-site technical assistance for computers and networks. Laura knows that you have recently obtained employment as a forensic accounting graduate and arranges for you to meet over coffee. Laura brings along copies of the company’s cash-flow statements to this meeting and after reviewing these financials, you note that cash-flows have been decreasing for the last three (3) years. When you query Laura as to reasons why cash flows have been continually decreasing, she responds by saying “I just don’t understand why this is occurring; even though we seem to have more customers year-on-year, the cash doesn’t appear in our financials”. On hearing this, you inform Laura that you believe fraud may be occurring in her company and suggest that cash collections should be the initial starting point for any investigation. Required: Assume that you were asked to investigate this case. Explain what investigation technique (or techniques) would be best for finding the potential fraud in this case. (7 marks)Question 2 : In your first assignment as a graduate forensic accountant in Melbourne, you have been asked to assist with performing an audit of start-up technology company that recently went public and is listed on the Australian Securities Exchange (ASX). Throughout the course of your audit, you have had many conversations with employees throughout the organisation and you feel comfortable in your working relationship with them. During one of your conversations, an organisational employee mentions the seemingly strange behaviour of one of their co-workers named Terry Beasley. They claim that Terry comes into work very early and stays very late. He is commonly stressed and quite irritable lately. Although many of the company’s founders and employees owned stock and have made substantial financial gains from the company’s listing on the stock exchange, Terry did not own any stock in the company prior to the IPO and hence didn’t make much money when the company went public. Nevertheless, Terry has recently purchased a house in the upmarket suburb of Toorak and started driving a Mercedes-Benz. Required: Discuss and identify the fraud symptoms in this case. After this, explain whether there is sufficient evidence to determine whether this employee is committing fraud. (8 marks) Question 3: Fraud examiners use a myriad of techniques for uncovering fraud. One technique involves comparing the assets listed in an organisation’s financial statements (for example, the dollar value listed in a statement of financial position) with the physical assets themselves. Required: Explain how the above-mentioned approach may help establish whether fraud is occurring in an organisation. Provide an example in support of your explanation. (6 marks)Submission Format Your assignment must: • answer all three of the assignment questions using suitable technical forensic accounting knowledge, terminology and concepts. You must also use appropriate vocabulary and grammatical convention, as reasonably expected in the professional and academic context, in your answers. • contain a header with the following information: full name, student number, tutor’s name, and tutorial day/time (to add a header in a Word document use Insert/Header). • be typed in 12pt font size using Calibri font style, at least 1.15 spaced, and include page numbers. Digital submission requirements are detailed below. • follow (where appropriate) the APA 6 Referencing Style for all citations. Please note that references are not a requirement for this assessment task per se because it is an application-based assignment (explained further below).

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