Bobby Flynn served as executive director of Downtown Kalamazoo, an organization created to revitalize Kalamazoo, Michigan. Over

Question:

Bobby Flynn served as executive director of Downtown Kalamazoo, an organization created to revitalize Kalamazoo, Michigan. Over the course of 13 years Flynn embezzled $333,000. How did Flynn do it? By depositing subscriber cash receipts in his own bank account, writing Downtown Kalamazoo checks to himself and creating phony entities that Downtown Kalamazoo wrote checks to.
Downtown Kalamazoo was led by a board of directors comprised of civic leaders. Flynn’s embezzlement went undetected until Downtown Kalamazoo couldn’t pay its bills.
Give four ways Flynn’s embezzlement could have been prevented.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial accounting

ISBN: 978-0136108863

8th Edition

Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas

Question Posted: