FIC3 Fraud and Internal Control Case Competition

Objective

FIC3 provides students an experiential learning opportunity to explore the implications of fraudulent financial reporting while demonstrating their understanding of the accounting process, system of internal controls and the COSO framework for internal control. This competition is an opportunity. It is also an opportunity to refine presentation skills and network with alumni and local professionals who serve as the coaches and judges.

Kickoff Event

There is a mandatory kickoff event that one member of each group must attend in person or via zoom session to meet their teammates and get the case materials on Monday, February 10 from 4-6 p.m. Check the events calendar for registration and further details.

Day of the Competition

Registration will take place from 8-8:30 a.m. Participants will have a chance to enjoy a continental breakfast and get to know team members and meet their coaches. The program will begin at 8:30 a.m. with a guest speaker who will provide vital information for the case.

Each team will have 3.5 hours (9 a.m. -12:30 p.m.) to review the case and critical information just provided, formulate their response to the case questions and develop a PowerPoint-based presentation. A box lunch will be provided at noon so teams may continue to work on their presentations. Each team must submit an electronic copy of their presentation by 12:30 p.m. No changes may be made to teams’ PowerPoint presentations after the 12:30 p.m. submission deadline.

Teams will be randomly assigned a 15-minute slot with one of our two panels of judges to present their results. Team presentations will be in 20-minute intervals to allow transitions between 1:00 p.m. and 3:30 p.m. The top four teams will be announced at the conclusion of the first round of judging. Immediately following this, we will release the rest of the group and the top four teams will again be randomly assigned for the final round of judging. Awards will be presented as soon as the judges have reached a decision.

Key Dates

Registration Deadline: February 4, 2020, Midnight

• Kick-off Event: February 10, 2020, 4 p.m.-6 p.m.
• Competition Date: February 14, 2020, 8 a.m.-4 p.m.

Team Structure

Teams will be assigned by the accounting department and align with the below requirements:

• Four students per team
• At least 1 Accounting Major, 1 upperclassman or MS student, and 1 underclassman per team
• A limit of 10 case teams, so the first 40 eligible students who sign up and are assigned to teams will receive one of the available spots.

Monetary Prizes awarded to top teams.

Registration and Requirements

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

You will be notified if you have been accepted into the competition no later than February 8, 2020.

To register please complete the registration form. You will be required to agree to the attached statement of comportment.

Please note: We require a one-week cancellation notice if you can no longer participate. If you are with a company and would like to participate, please contact Jocelyn Craighead at jmc557@drexel.edu