For the second straight year, a team from Cedarburg High School was the big winner at Lakeland University’s Forensic Accounting Competition.
This was LU’s fifth consecutive Forensic Fraud Competition, which annually welcomes nearly two dozen high schools from around the state to analyze and find solutions for well-publicized financial-based fraud cases.
This year’s case study was the Wells Fargo scandal, during which corporate-level employees opened unauthorized accounts for existing clients without their knowledge in order to meet quotas.
Cedarburg’s presentation was awarded first place by the event’s accomplished judges, who ranged from representatives of the FBI and Department of Justice to employees at such renowned companies as Actuant, Associated Bank, Johnsonville and Kohler Co.
A team from Oak Creek High School finished second, followed by teams from Westosha Central, Oconomowoc and Xavier. Twenty teams competed.
Prior to the student presentations and judging, the more than 130 visitors attended breakout sessions guided by some of the judges.
Session facilitators included Nicole Kitowski, deputy chief risk officer at Associated Bank; Jim Jones, Lakeland adjunct faculty member; Julie Andreoni and Jennifer Walkowski of the FBI Milwaukee office; Donald Todd, cyber agent specialist for the Wisconsin Department of Justice – Division of Criminal Investigation in Madison; and Kelly Conway and Ann DeRose, forensic accountants at Insight Forensic Accountants.
The visiting students also watched a brief presentation about Lakeland’s nationally recognized accounting program by Brett Killion, LU’s assistant professor of accounting.