ABSTRACT This case study investigates the shocking 2021 insolvency and resulting financial scandal at Laurentian University, a publicly funded post‐secondary institution in the province of Ontario, Canada. The case exposes significant weaknesses in internal control, highlights the institution's inability to become financially sustainable, and serves as a warning about the importance of responsible governance. Using publicly available information, the case study focuses on the financial, governance, and auditing elements resulting from the scandal. The Laurentian scandal is a significant Canadian accounting event that merits attention from the accounting community in Canada and beyond because important lessons can be learned about financial management and corporate governance. The case study is best suited for analysis in an upper‐year professional integration undergraduate course or at the graduate level in an assurance course. The case study is also valuable for those in academic governance.

Marc Pilon

Jo‐Anne Ryan

Accounting Perspectives

Accounting Perspectives provides a forum for peer-reviewed applied research, analysis, synthesis and commentary on issues of interest to academics, practitioners, financial analysts, financial executives, regulators, accounting policy makers and accounting students.    Articles are sought from academics and practitioners that address relevant issues in any and all areas of accounting and related fields, including financial accounting and reporting, auditing and other assurance services, management accounting and performance measurement, information systems and related technologies, tax policy and practice, professional ethics, accounting education, and related topics. Without limiting the generality of the foregoing.

Accounting Perspectives is a forum for peer-reviewed applied research, analysis, synthesis, and commentary on issues of interest to academics, practitioners, financial analysts, financial executives, regulators, accounting policymakers, and accounting students. We seek articles from both academics and practitioners that address relevant issues in all areas of accounting and related fields, including financial accounting and reporting, auditing and other assurance services, management accounting and performance measurement, information systems and related technologies, tax policy and practice, professional ethics, accounting education, and related topics.

《Accounting Perspectives》是一个提供同行评审的应用研究、分析、综合和评论的平台，关注学术界、实践者、金融分析师、金融高管、监管机构、会计政策制定者和会计学生感兴趣的问题。我们欢迎来自学术界和实践界的文章，涉及会计及相关领域的各类相关问题，包括财务会计与报告、审计及其他保证服务、管理会计与绩效测量、信息系统及相关技术、税收政策与实践、职业道德、会计教育等主题。

The Laurentian University Financial Scandal: Accounting and Audit Deficiencies^*

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Journal Info

Category	Quartile
BUSINESS, FINANCE	3

The Laurentian University Financial Scandal: Accounting and Audit Deficiencies*

ivySCI AI Smartly Parses PDF, Answers Researchers' Questions, and Helps You Understand Papers in Seconds

Journal Info

The Laurentian University Financial Scandal: Accounting and Audit Deficiencies^*