An Empire Built on a Lie – the Peregrine Fraud: A Case Study on Confirmations as Audit Evidence

Published: Jan 1, 2017
Abstract
This study examines the real world case of the Peregrine fraud. In this fraud, the CEO Russell Wasendorf, Sr. duped the auditors and the public for years. Wasendorf was able to carry out a fraud using an unsophisticated scheme involving falsified bank statements and falsified audit evidence. Only when an electronic confirmation services was used by the auditors did the fraud unravel. This case provides interesting discussion points for an...
Paper Details
Title
An Empire Built on a Lie – the Peregrine Fraud: A Case Study on Confirmations as Audit Evidence
Published Date
Jan 1, 2017
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