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Bob Daniels Fraud Triangle.

As mention Bob does not look like a thief at all compare to other people, he was a very successful person that had work hard to obtained all of his success, as many people who commit crimes he look trustworthy. He studied hard to get to a high point in his life, he didn’t want a extravagant life, he just wanted to have a fairly okay life next to his family and be able to provided to them to the best he could, he seemed to had always done everything the right way, without having any problems with anyone else. He went to a good school in Texas to learn accounting and get his masters, in the accounting field people are always thought to be ethical and do the right thing, this was never Bob’s problem even before he started committing fraud he would always think about how it was right.

After working and making a little more money he decided to move to a new place to work he started working for MFC where he wasn’t making enough money to meet his financial needs for the month, this is where the motive started for him, he had a lot of financial problems and plus he owed money to the IRS, which it’s hard because they don’t give that many breaks they want their money like everyone else, they will go after people positions their house and personal assets, this scared Bob and gave him the motive to break his principles, he knew he was doing wring because that was what he was thought at school, but all the pressure gave him the strength to go ahead and commit a crime against one of his clients, he owed too much money while working for the MFC he hadn’t pay his taxes and he ended up working a deal with the IRS to pay his backup taxes but even the monthly payment was high for him because he already owed so much.

While he seemed trustworthy and no one checked his work at the St. Michael’s Academy, he saw the perfect opportunity to be able to get the extra money that he needed to pay all the debt he had and get the extra money he needed to pay the IRS so that they will leave him alone, he had the perfect setting in this school no one questioned him about the financials they would just take his work, they trusted him at his place of work giving him all what was necessary for him to commit fraud, he had access to all of the accounts and had the access to writing checks for different companies, as mention at times he even wrote checks to himself but no one ever asked they just assumed they were for services he did for the school, he saw the opportunity and he planned well, he created some business entities that he would later write the checks to and this gave him the extra money, by him having full access to all the account and being able to write the checks made it fairly easy for him to steal from the company.

At the beginning Bob thought he would just do it for a couple of months just mean while he got extra money or end up paying for all his debt, this in the way he excused his actions, after sometime he was able to pay everything he had to pay but it didn’t stop there for him, he had taste the feel of easy free money and hadn’t got caught, he knew he was doing wrong but he just couldn’t stop, at first he had a good excuse he was doing to save his family and be able to provided for them, even the extra money he had he used it to provided for better things to his family not to buy expensive cars or live a extravagant life, he kept being simple and I guess this helped for him not to get caught.

After everyone find out of Bob’s wrong doing they were all surprise because they would never guess it, it is important for companies to have good internal controls and follow them to prevent people from stealing from them, or even give them the temptation of doing it, the school had no internal controls that would prevent someone from stealing from them, I think they figure no one would because of the type of business they had, but all you have to give someone is the motive, opportunity and rationalization to do it and they probably will; the St. Michael’s school didn’t have any of the essential internal controls that would have prevented fraud, one of the internal controls that would have prevent the fraud from happening and could prevent it in the future would be the monitoring one, this way the accounting procedures would be monitor by someone else minimizing the possibilities of someone just creating fictitious account and cutting checks to it every month with anyone asking about, or questioning what did this company did for the school.