Long Island students will be IRS agents for a day

Business owners skimming funds from their company. A bar owner who keeps two sets of books. A multi-filer tax scheme. As special Internal Revenue Service agents for a day, students from Long Island University's Brooklyn Campus will see what it is like to solve white-collar crimes like these. Working with real IRS agents on pretend crime investigations, students will be introduced to forensic careers in accounting.

The drama begins when the IRS brings its Student Fraud Conference to Long Island University's Brooklyn Campus on Friday, October 24, from 10 a.m. to 4 p.m. in the Avena Lounge.

"The mission is to expose students to the inner workings of a fraud investigation through the eyes of an IRS special agent. It's a way to present forensic career opportunities with interactive learning for students pursuing, or thinking of pursuing, an accounting degree," said Myrna L. Fischman, professor of accounting and chair of the department of accounting, taxation and law at Long Island University's Brooklyn Campus.

Experienced IRS agents will coach students as they track down and expose the simulated fraud.

"An investigation may start with an anonymous informant, a meeting with local law enforcement or a bag of garbage," said Joe Foy, IRS criminal investigation agent and an accounting alumnus of the Brooklyn Campus. "Students working in small groups select their next steps in gathering evidence, usually taking them to potential witnesses played by seasoned IRS special agents and other volunteers." Students can use the tools available to federal law enforcement officers, including undercover operations, surveillances, subpoenas, and search warrants. At the end of their scenarios, the students meet as a group to discuss their investigation, while receiving an evaluation from their coaches.

In addition, there will be games of chance - poker, blackjack and bingo, with a few "sharks" mingling with the students. The currency will be "LIU funny money."
 

You may like these other stories...

Mike "the Situation" Sorrentino, one of the stars on the former TV show "Jersey Shore," is in the middle of…well, a tax situation.On October 23, the erstwhile reality show attraction was arraigned...
Deal to lock in US tax cuts is bubbling up on the HillSome US lawmakers are exploring a post-election deal that would lock in permanent tax cuts for major corporations and low-income families, Richard Rubin of Bloomberg...
For many individuals, a key part of their investment and estate planning is to write yearend checks for gifts to family members. The following reminders will help put your tax planning in perspective for 2014 and beyond, and...

Already a member? log in here.

Upcoming CPE Webinars

Nov 5Join CPA thought leader and peer reviewer Rob Cameron and learn ways to improve the outcome of your peer reviews while maximizing the value of your engagement workflow.
Nov 18In this session Excel expert David Ringstrom, CPA tackles what to do when bad things happen to good spreadsheets.
Nov 19How do you minimize redundant work and unnecessary steps to maximize the amount of work moving through your firm?
Nov 20Kristen Rampe will share how to uncover new opportunities with your clients by asking powerful questions.