First, the paper will define fraud and analyze a fraudulent
accounting situation and the responsibilities of a forensic accountant. Then,
the paper will examine and analyze an accounting fraud case involving a money
laundering scheme involving a retired couple who own a business and their son. Lastly,
the paper will offer insight into the differences between an accounting audit
and a fraud examination of financial statements and recommendations on what
current fraud model offers the best explanation for the actions of the
fraudulent retired couple.