Financial Statement Fraud Short Paper

Read the following articles about two cases of financial statement fraud:

• "Anatomy of a Financial Fraud"
• "Dell Fined $100M for Accounting Fraud that Misled Investors"

Choose one case and answer the following questions:

• What type of financial statement fraud was perpetrated?
• What were the red flags (if any) in the case?
• How did the scheme come to light?
• What steps would you implement to prevent this type of fraud in the future? Did the external auditor in each case detect fraud? Why?
• How does this case differ from the other?