Fraud Case Report

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With increasing frequency; the news is reporting many new fraud investigations and cases. The positive side of these fraud reports shows that people are getting caught. Many times it takes years of fraudulent activity to occur before the individual is caught. Billions of dollars are lost by companies and individuals every year. However; in more recent years, companies and individuals are learning more about how and why fraud occurs. For a company; the Sarbanes-Oxley Act of 2002; has aided in the detection of fraudulent activity (Bumgardner, 2003). Also, in the event that fraud is suspected, forensic accountants and fraud examiners are utilized to create reports that defend the findings of fraudulent activity which in turn will help in the…show more content…
Expert witnesses are often people who can offer opinions in court because of their unique experience, education, or training” (Albrecht, Albrecht, Albrecht, and Zimbelman, 2012, p. 631). Expert witnesses are not only utilized to testify at a trial, but are typically called upon during the discovery phase to study the evidence and read witness depositions (Kranacher, Riley, & Wells, 2011). Many create a written report on their opinions. Most expert witnesses in fraud case consist of fraud examiners or forensic accountants. The expert witness is deposed once the discovery phase is over. “During the deposition, a good expert takes a defensive posture by answering only the questions that are asked in the most abbreviated way possible” (Albrecht, Albrecht, Albrecht, & Zimbelman, 2012, p. 631). An expert witness needs to ensure that they never provide more information than what is being specifically asked. An expert witness should always be honest with their answers even if it is not what the individual asking the questions wants to hear (Silverstone, Sheetz, Pedneault, & Rudewicz, 2012). The expert witness will be examined at the trial by the attorney on their side first to determine their expert qualifications and questioned on their expert opinion of the fraud. The expert will then be cross-examined by the individual’s on the other side of the case. The information given during the trial can help either

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