Famous Frauds
This man was the mastermind behind the largest Ponzi scheme in U.S. history.
Who is Bernie Madoff?
According to the Bureau of Labor Statistics, in 2021 the median annual salary for accountants who are in mid-management roles is about this much.
What is $132,000?
Sherron Watkins blew the whistle on a massive accounting fraud that led to the downfall of this compnay.
What is Enron?
The accounting equation.
What is Assets = Liabilities + Owners' Equity
Accountant and prisoner Andy Dufresne helped set up the warden for arrest in this movie starring Morgan Freeman and Tim Robbins.
What is "The Shawshank Redemption"?
This percentage of Farmer School accountancy students had jobs, were going to grad school, or were starting their own ventures, or had similar plans at the times of their graduation.
What is 97%?
Accountant Frank J. Wilson, sometimes called the 'Father of Forensic Accounting,' followed a trail of money that would ultimately become this gangster's undoing.
Who is Al Capone?
The phrase often applied to the discipline of accounting.
What is, "The language of business"?
The collapse of this company jump-started the 2008 financial crisis.
What is Lehman Brothers?
According to the Bureau of Labor Statistics, jobs for accountants and auditors are expected to grow at this percentage rate from 2021-2031.
What is 7%?
For exposing the fraud at this company, Cynthia Cooper was named one of Time's People of the Year in 2002.
What is Worldcom?
Title of the song with the memorable line, “I live in hotels, tear out the walls; I have accountants pay for it all.”
What is "Life's Been Good to Me So Far" (Joe Walsh)?
Best known as the "fraud triangle," the presence of these three factors suggests a high risk of fraud.
What are opportunity, incentive, and rationalization?
This CEO of Tyco had the company pay half the cost of a lavish multimillion-dollar birthday party for his wife on the Italian island of Sardinia.
Who is Dennis Kozlowski?
Inspiration for this Beatles song came after George Harrison learned how much of The Beatles' earnings went to the U.K. Treasury.
What is "The Taxman"?