The Anti-Fraud Collaboration has released a new case study to provide an example of effective financial fraud detection and deterrence.
The
Carolina Wilderness Outfitters is the second in this series of case studies. The first case study,
The Anti-Fraud Collaboration is made up of a group of four organizations, including the Center for Audit Quality, Financial Executives International, The Institute of Internal Auditors, and the National Association of Corporate Directors. They formed the collaboration in 2010 to develop awareness, education, and resources to promote the deterrence and detection of financial reporting fraud.
“We are pleased to build on the success of last year’s Hollate Manufacturing Case Study,” said CAQ executive director Cindy Fornelli in a statement. “Hollate Manufacturing has been well-received in classrooms and training rooms across the country. In fact, 96 percent of instructors responding to a CAQ survey said Hollate Manufacturing helped them achieve their classroom goals, demonstrating that these case studies are a valuable tool in the fight against financial reporting fraud at public companies.”
Hollate Manufacturing has been taught at professional conferences, audit firms and universities since its release in March 2013. The case study was also selected for the Third Annual Internal Audit Case Study Competition at Georgia State University in November.
To help teach the Carolina Wilderness Outfitters Case Study, the Anti-Fraud Collaboration has published a discussion guide that provides the framework for leading a robust dialogue addressing key learning objectives of the case. It also includes a list of resources on how to properly conduct an internal investigation. Both the case study and discussion guide are inspired by the Harvard Business School case-study method. The collaboration consulted with two HBS faculty members in developing these resources. (A discussion guide is also available for the Hollate Manufacturing Case Study.)
The collaboration has also developed
The videos feature insight from Willis Emmons, Senior Lecturer and Director of the Christensen Center for Teaching and Learning at the Harvard Business School. The videos also feature V.G. Narayanan, the Thomas D. Casserly Jr. Professor of Business Administration at the Harvard Business School, leading a discussion of the Hollate Manufacturing Case Study.
Both case studies—Carolina Wilderness Outfitters and Hollate Manufacturing—can be found at the Center for Audit Quality’s Web site, where instructors can also register for the discussion guide and access the videos and other case-method resources. For more information, visit