Title
Fraudulent Tax Refunds: The Notorious Career of Harriette Walters
Source of Publication
Current Issues in Auditing
Abstract
Harriette Walters embezzled more than $48 million from the District of Columbia by processing fraudulent real estate tax refunds. This paper describes the Walters scheme and discusses, from the perspective of the COSO framework, internal control weaknesses that enabled the fraud to go undetected for more than 20 years. While this analysis of the Walters fraud should be of interest to both accounting academics and audit professionals, it should be particularly helpful to students, fi nancial managers, and inexperienced auditors in understanding the importance of effective internal controls for preventing and detecting fraud in a wide variety of organizational settings.
Document Type
Article
Publication Date
1-1-2011
DOI
10.2308/ciia.2011.5.1.A23
Recommended Citation
Jacoby, Philip F.; Lorigo, Sebastian; and Mccallum, Brent T., "Fraudulent Tax Refunds: The Notorious Career of Harriette Walters" (2011). Scopus Indexed Articles. 2149.
https://zuscholars.zu.ac.ae/scopus-indexed-articles/2149