Alan Reinstein receives Best Paper Award
Mike Ilitch School of Business George R. Husband Endowed Professor of Accounting Alan Reinstein has been named a recipient of the Best Paper Award, Western Region, by the American Accounting Association’s (AAA) Teaching, Learning and Curriculum Section.
The paper for which Reinstein was awarded, titled “Belding Party Store Lottery Fraud: Detecting Lottery Fraud,” was co-authored by Leigh Rosenthal and Greg Trompeter, both of the University of Central Florida. The team will present their paper at AAA’s 2022 Western Region Meeting in Long Beach, California, on April 29.
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Abstract
Based on an actual consulting engagement, this case study of the Belding Party Store’s internal records showed increased lottery sales but decreasing State Lottery Commission revenues. This case asks auditing (graduate or undergraduate) students to apply forensic accounting and auditing techniques to ascertain (1) whether some of the party store employees defrauded their owner of lottery ticket sales; (2) which weaknesses in internal controls should have alerted the owner of this potential fraud; (3) how to improve internal controls to minimize future fraud; (4) and how to measure the of the fraud. Students received these documents: the (1) the case; (2) internal processes flowcharts of the case; (3) an Excel workbook that contains source documents necessary to determine the nature of the fraud and to calculate the damages; and (4) Student Survey Questionnaire.
