Fraud Examination 4th Edition by Steve Albrecht,Chad Albrecht,Conan Albrecht ,Mark Zimbelman

Exercise 97

You have been hired as a fraud auditor to examine the assets of a company that recently filed for Chapter 11 bankruptcy. The company manufactures and sells circuit boards for children's computerized toys. You have access to its financial statements and warehouses. The company is a closely held corporation. The company is suspected of fraudulently concealing assets. Give three red flags that you would look for to indicate fraudulent asset concealment.