Students show fraud and forensics smarts to win 2011 accounting competition


A team of students from North Carolina State University in Raleigh, N.C., won the 2011 AICPA National Accounting Competition, which focused on fraud and forensics.

The case competition featured a fictional Texas company looking to expand its business into Nigerian oil fields. Ninety-eight student teams from around the country entered their solutions, and 10 semifinalist teams submitted written and video proposals on ThisWayToCPA.com. The public voted on the best ideas. Those votes and a review by an executive judging panel narrowed the field to three teams. Each team gave a presentation to a panel of judges and participated in a question-and-answer session.

The NCSU team’s solution stressed effective control measures designed to limit fraud exposure, align with the company’s strategic goals and be cost-effective. The members of the team, Wolfpack in the Black, are: Alan Perry (captain), Amanda Dew, Brian Jones, Seanna Robey and Eileen Taylor (faculty adviser). The team received a $10,000 award.
 
The Iowa State University team, Internal Control Freaks, received the $5,000 award for second place, and The University of Texas at Dallas team, Highly Debticated, received the $2,500 award for third place.

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