This week’s discussion is based on the documentary, All the Queen’s Horses. The documentary is available on demand at the following sites:Amazon Prime https://www.amazon.com/All-Queens-Horses-Gene-Biggerstaff/dp/B07BPR2Y2C/ref=sr_1_1?s=movies-tv&ie=UTF8&qid=1523379365&sr=1-1&keywords=all+the+queen%27s+horses (Links to an external site.)YouTube Movies All the Queen’s Horses (Links to an external site.). Please watch the video and also review the related resources listed below.All the Queen’s HorsesOn February 14, 2013, Rita Crundwell, former comptroller for the city of Dixon, IL was sentenced to 19½ years in prison for stealing more than $53 million from Dixon. Crundwell’s crime went on record as the largest municipal fraud in U.S. history. Just as shocking as the amount stolen from this small Illinois town, was the fact that Crundwell engaged in her scheme to pillage Dixon for 20 years before being discovered. Crundwell’s fraud shines an unflattering spotlight on the accounting profession and the role of the audit. The relevance of the audit has been in question since the uncovering of massive corporate frauds dating back to Worldcom and Enron. Subsequent to Crundwell’s conviction, the city of Dixon sued its auditors, accountants and bank, settling their claim against them for $40 million.After viewing the video and reviewing the related resources, please submit a 3-4 paragraph initial post, addressing the following:Describe the fraud scheme committed by Rita Crundwell, including how she concealed the fraud.How did Rita Crundwell steal over $37,000 each day from a town with an annual budget of around $6 million? Discuss the application of the fraud triangle and other fraud theories we have covered as they apply to this case study.How could this fraud have been prevented? In your discussion, be sure to explain the controls that were missing at City Hall.How could such embezzlement go undetected in annual audits by two independent accounting firms and in annual audit reviews by state regulators? How was this fraud continued for so many years? What red flags did the auditors miss? How did residents not become suspicious of Crundwell’s extravagant wealth and frivolous spending? How was the fraud finally detected? Explain the legal side of the case.As with other discussions, you will not see other students’ posts until after your initial post. Please have your initial post submitted by Wednesday to ensure full credit. After your initial post, please continue the discussion with three (3) substantive replies to your classmates’ initial posts.Related resources:How People Rationalize Fraud https://ed.ted.com/lessons/how-people-rationalize-fraud-kelly-richmond-pope (Links to an external site.)$54 Million Fraud https://www.aicpastore.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2013/ForensicValuation/54-million-dollar-fraud.jsp (Links to an external site.)How Ronald Reagan’s Hometown Was Robbed Blind https://www.thedailybeast.com/how-ronald-reagans-hometown-was-robbed-blind (Links to an external site.)Rita Crundwell And The Dixon Embezzlement http://www.chicagomag.com/Chicago-Magazine/December-2012/Rita-Crundwell-and-the-DixonEmbezzlement/ (Links to an external site.)
Why Choose Us
- 100% non-plagiarized Papers
- 24/7 /365 Service Available
- Affordable Prices
- Any Paper, Urgency, and Subject
- Will complete your papers in 6 hours
- On-time Delivery
- Money-back and Privacy guarantees
- Unlimited Amendments upon request
- Satisfaction guarantee
How it Works
- Click on the “Place Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
- Fill in your paper’s requirements in the "PAPER DETAILS" section.
- Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
- Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
- From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.