I cannot verify the accuracy of this story but it certainly illustrates why we have need for internal auditors. Lesson, auditors need to exhibit 'professional skepticism.'
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A Well-Planned Retirement* *From The London Times:* Outside the Bristol Zoo, in England , there is a parking lot for 150 cars and 8 coaches, or buses. It was manned by a very pleasant attendant with a ticket machine charging cars £1 (about $1.40) and coaches £5 (about $7). This parking attendant worked there solid for all of 25 years. Then, one day, he just didn't turn up for work. "Oh well", said Bristol Zoo Management – "We'd better phone up the City Council and get them to send a new parking attendant…" "Err … no", said the Council, "That parking lot is your responsibility." "Err … no", said Bristol Zoo Management, "The attendant was employed by the City Council, wasn't he?" "Err … NO!" insisted the Council. Sitting in his villa somewhere on the coast of Spain , is a bloke who had been taking the parking lot fees, estimated at £400 (about $560) per day at Bristol Zoo for the last 25 years. Assuming 7 days a week, this amounts to just over £3.6 million ($7 million)! And no one even knows his name. |
Professor Elam 
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