Learning Center

This IMA Educational Case Journal (IECJ) case study, “House Out of Control,” is based on a true story. It examines fraudulent activity that occurred due to a lack of internal control. The fraud was committed by the executive director, who misappropriated funds to meet personal needs. An investigation then ensues by the finance committee. This case considers the Committee of Sponsoring Organizations of the Treadway Commission (COSO) 2013 Internal Control-Integrated Framework, evaluation of an ethical dilemma, working with internal control systems, and the revised IMA Statement of Ethical Professional Practice.