This past February, Eastern University’s College of Business and Leadership sent four teams of students to compete in the Drexel University Fraud and Internal Control Case Competition, hosted by Drexel LeBow’s Department of Accounting. 

This year, Eastern student teams took home first, third, and fourth place despite intense competition from much larger schools such as Drexel University, Temple University, La Salle University, and St. Joseph’s University. 

The recent event was the 10th annual competition and the eigth year that Eastern has participated. Amazingly, this was the fourth, first-place finish for Eastern, and 2024 was the most successful engagement thus far. Three Eastern teams placed in the top six and won cash prizes up to $375 per student. 

Each year, the event begins with a kickoff on Monday evening, during which student teams are presented with cases inspired by real-life business events. They receive most of the information, but a few key details are left out. During the week, students are encouraged to review the data and think about the business risk environment and what pressures exist to behave unethically.

At the competition, teams are given the remaining case data and have three and a half hours to review the information provided. The students then present a comprehensive analysis with recommendations to a panel of judges who are allotted time to ask follow-up questions before they rank the teams. The top six teams then present again before all the judges and field additional follow-up questions before the final ranking.

Local area business leaders volunteer as team coaches and judges, offering students the opportunity to practice risk assessment, identify how those risks may affect business decisions, and consider what controls a company can put in place to mitigate those risks and keep ethical practices a part of its culture. 

“Real-world cases where students can showcase their analytical, data analysis, and critical thinking skills in a professional setting are incredibly important for students in the College of Business and Leadership,” said Lorie Thomas, Affiliate Faculty, Accounting and Finance. “Events like this one open the door for students to build problem-solving and teamwork skills in the moment and under time pressure, practice presentation skills, enhance leadership skills, build self-esteem, and analyze business information to develop a mindset of professional skepticism, a skill the PCAOB states is missing in many audits. This competition encourages students to dig deeper into their risk assessment and business analysis capabilities by fostering friendly competition inspired by issues they may one day face in the real world.” 

Students have the added bonus of developing relationships with business leaders in the region with whom they can network and develop mentor relationships that extend beyond the event and can help inspire or impact their future careers.

“The best part of the experience for me was developing my teamwork skills,” said Cheyenne Phillips, an Eastern student on one of the winning teams. “To produce a thorough analysis in the short time frame allotted, you not only have to be aware of your own strengths, but you also have to learn your teammates’ strengths to collaborate effectively.”

Learn more about the Case Competition at Eastern University. Eastern University is a Christian university enrolling approximately 7,500 students in its undergraduate, graduate, and seminary programs. The university’s main campus is located in St. Davids, with many programs available online. Eastern’s core values of faith, reason, and justice are woven into all of its educational programs.