James Henry served as executive director of Downtown Huntsville, an organization created to revitalize Huntsville, Alabama. Over

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James Henry served as executive director of Downtown Huntsville, an organization created to revitalize Huntsville, Alabama. Over the course of 14 years, Henry embezzled $236,000. How did Henry do it? He did it by depositing subscriber cash receipts in his own bank account, writing Downtown Huntsville checks to himself, and creating phony entities to which Downtown Huntsville wrote checks. Downtown Huntsville was led by a board of directors comprised of civic leaders. Henry’s embezzlement went undetected until Downtown Huntsville couldn’t pay its bills. Give four ways Henry’s embezzlement could have been prevented.

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Financial Accounting

ISBN: 978-0133427530

10th edition

Authors: Walter Harrison, Charles Horngren, William Thomas

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