This session I am enrolled in ACCMIS 7520 Misappropriation of Assets, which is an accounting elective course. The course is taught by Douglas Huffner, who is the Chief Risk Officer for The Ohio State University.
Topics covered in the class so far have covered everything from identifying fraud to common fraud schemes. We have also discussed various misappropriations of cash, such as larceny, fraudulent disbursements, and skimming. The course also covers how companies can prevent fraud. Inherently, if you can understand how fraudulent schemes are developed, you can design a company’s internal controls in such a way to deter or completely eliminate fraudulent behavior by employees.
The class topics are all incredibly interesting, but by far, my favorite portion of the class is hearing real-life examples of fraud that Professor Huffner can cite in his past experiences. Since he is the Chief Risk Officer, he works on problem-solving the most sensitive situation on campus and in the Ohio State community (such as campus emergencies and internal fraud investigations). His experiences help to break up the materials and leads to great class discussion!