Department of Accounting 2015 FIC3 (Fraud & Internal Control Case Competition)

We appreciate the support of our generous inaugural sponsor Mercadien

Objective

The purpose of FIC3 is to provide students an experiential learning opportunity to understand the implications of fraudulent financial reporting and the value and relevance of the COSO Internal Control Framework 2013. This competition will provide students an opportunity to demonstrate their understanding of the accounting process, system of internal controls and COSO 2013 which became effective December 15, 2014.

Day of the Competition

Each approved FIC3 Student Team will meet in GHall Room 220 @ 8:30am on Friday, February 13, 2015. Following opening remarks teams will then receive the actual case, detailed requirements and supplement material. Each team will have 4 hours (9am -1pm) to review the case, formulate their response to the case questions and develop a PowerPoint based presentation.

There will be a working lunch provided from noon to 1:00pm. Each team must submit an electronic copy of their presentation by 1:00pm. No changes may be made to teams’ PowerPoint presentations after the 1:00pm submission deadline. Teams will be assigned a 10 minute slot to present their results to our panel of judges. Team presentations will be in 15 minute intervals between 1:00 and 3:30 in G Hall Room 205. Awards will be presented as soon as the judges have reached a decision.

Key Dates

• Registration Deadline: February 2, 2015
• Kickoff Date: February 5, 2015
• Competition Date: February 13, 2015

Team Structure

• Teams of 4 students
• One member of the team should be designated to supply a laptop that can access the dragonfly network
• Teams must consist of at least one Accounting Major, one senior and one sophomore
• Team members are required to register individually and notate which team they are entering with when completing the registration. If you do not have team you may register as an individual and will be assigned a team if space permits.
• There will be a limit of 10 case teams so the first teams registered and approved i.e. meet the team composition criteria will receive one of the 10 available spots.

Team Prizes

• 1st Place - $500 ($125 per each team member)
• 2nd Place - $300 ($75 per each team member)
• 3rd Place - $200 ($50 per each team member)

Registration and Requirements

Due to the nature of the competition, participation is limited; not every application will be accepted into the competition.

• To participate in the competition, each team member must register here before the deadline of February 2, 2015.
• At least 2 members of each accepted team will be required to attend the Kick Off Event “Tales from the Hard Drive” on Thursday February 5th in GHall 722 from 5-7pm

You will be required to agree to the attached statement of comportment. Please note: We require a 1 week cancellation notice if you can no longer participate.

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