In one of the case studies in the textbook, Ernie Phillips was a CPA who had fallen on hard times both financially and personally. He eventually got a job as a controller for a friend who had just been named as the receiver for a financial services company. Within a short period of time Phillips began writing checks to himself that had nothing to do with payroll. How was the fraud discovered?
A) The president received a bank statement containing canceled checks that had been written to Phillips.
B) The receiver received a call from the bank asking him to verify a check.
C) A vendor received a check in error and reported it to the operations manager.
D) The operations manager found a check made payable to Phillips while searching Phillips' desk for some accounting records.

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The Answer of In one of the case studies in the textbook, Ernie Phillips was a CPA who had fallen on hard times both financially and personally. He eventually got a job as a controller for a friend who had just been named as the receiver for a financial services company. Within a short period of time Phillips began writing checks to himself that had nothing to do with payroll. How was the fraud discovered?
A) The president received a bank statement containing canceled checks that had been written to Phillips.
B) The receiver received a call from the bank asking him to verify a check.
C) A vendor received a check in error and reported it to the operations manager.
D) The operations manager found a check made payable to Phillips while searching Phillips' desk for some accounting records.

In One of the Case Studies in the Textbook, Ernie