Please refer to : Incredibly, Auditors Miss a $53 Million Fraud in Dixon, Illinois
NOTE: The information in this blog comes from indictments and depositions in the civil trial of the auditors for Dixon Illinois. The case is currently on trial. The final verdict will determine the guilt or innocence of the defendants. I’ve taken factual statements from these documents.
Please see: http://davehancox.com/2013/07/auditor-independence-and-competence-on-trial-in-dixon-illinois-fraud-case/
Who Did the Audit?
Misunderstanding Audit Concepts
- A vague payee,
- An endorsement that doesn’t match the payee,
- An endorsement that shows it is going to an account in Dixon, Illinois – not the Illinois State Treasurer,
- And it is a rounded dollar check, as were many of the similar fraudulent checks