Analyzing a mysterious cash transaction, seizing the computerized records of a Ponzi schemer, or surveilling a money-laundering “smurf”: Florida State University accounting students investigated a variety of possible crimes, making arrests and testifying in court when they conducted mock fraud investigations with the best of the best, the Internal Revenue Service’s Criminal Investigation unit (IRS-CI).</p>
<p>Students and IRS special agents presented the IRS-CI’s Adrian Project, an applied-learning opportunity that gives students the chance to investigate financial fraud through forensic accounting. Developed by the IRS in 2002, the program was dubbed the Adrian Project after its inaugural offering at Adrian College in Michigan.</p>
<p>“The Adrian Project involves true-to-life investigative scenarios, much like the cases IRS special agents work,” said Linda J. Osuna, the special agent in charge of IRS-CI’s Tampa field office. “We are excited to share this unique opportunity with the students at Florida State University. The Adrian Project is an excellent teaching tool.”</p>
<p>From drug traffickers to business owners skimming funds, student teams from the College’s undergraduate accounting classes such as Fraud Examination and Investigative Accounting examined cases with the help of current or retired IRS special agents. The mock investigations are designed to give students some real-world experience in identifying fraud.</p>
<p>The five-hour investigations could start with an anonymous tip, a piece of trash or a meeting with law enforcement all supplied by the IRS-CI team. The students then followed the trail, with their assigned coach, and completed the investigation on their own. Their findings were evaluated by the IRS team.</p>
<p>“This was an amazing opportunity for our students,” said Bud Fennema, Ernst & Young Professor of Accounting and chairman of the Department of Accounting. “The Adrian Project allowed our students to bridge the gap between classroom learning and real-world experience. They also had the added bonus of working with the professionals at the IRS who are the best in the business.”</p>
<p>Not only does the Adrian Project provide students with the training they will need for accounting careers but it also highlights other opportunities in accounting, including working for the IRS.</p>
<p>“The Adrian Project is fun and challenging for the students and the agents,” the IRS’ Osuna said. “It also allows tomorrow’s accountants to apply their classrooms skills in what may be, unexpected ways.”