North Partners with Courts to Provide Significant Auditing Task for Students

Starting this spring North Seattle College offers a great opportunity to students enrolled in the Accounting Fraud program—do hands-on work with real auditing cases potentially involving fraud and offer a valuable community service at the same time. The project is a partnership with the Office of Guardianship and Elder Services in coordination with the Certified Professional Guardianship Board and the Forensic Accounting class at North.

This partnership will benefit an individual in a guardianship, his or her family and friends, the courts and the Certified Professional Guardianship Board in knowing how the funds of an individual in a guardianship are being managed. The project also helps accounting students gain valuable experience in the field.

Accounting Fraud Program Coordinator Lauren Psomostithis explains, “This option is already part of the Forensic Accounting curriculum in Spring Quarter, and I plan to include it as a feature of the Summer Fraud Institute. This will be an option for students taking the year-long fraud program as well.”

Online students can participate in the project, regardless of where they live, because the courts are willing to share file electronically, as long as students pass the background check (fees covered by the state).

How does this work?

The pilot project focuses on the accountings that guardians of the estate of incapacitated persons must submit to the court for review and approval. (A guardian is someone who acts on behalf of a person whom the court has determined to be unable to make some or all of his or her personal and financial decisions. A guardian may be a relative or friend or a professional.) The project will assist the courts in the protection of the funds of individuals in a guardianship and audit accountings in response to a grievance filed against a professional guardian.

Audits enhance the court’s duty to safeguard an incapacitated person’s funds by informing the judge of an accounting’s degree of completeness and accuracy before a ruling is made to approve a guardian’s actions. North’s student auditors will review accountings to determine accuracy of balances, funds and expenditures; review expenses and their timely payment; and determine that the guardian has disclosed all fees paid to him or her during the prior period.

For additional information about this project or about the North Accounting Fraud program, visit the program webpages or e-mail lauren.psomostithis@seattlecolleges.edu 

Posted on: May 2nd, 2017 at 08:56:53

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