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This is a Chinese version. This case study based on a real financial institution requires students to identify weaknesses in the internal control processes described, which relate to the operations of a trust company. Students will also determine the appropriate controls that need to be in place and their purpose make suggestions for audit tests that will identify whether any improprieties have occurred. This case is particularly timely, as the ageing baby boomer generation places significant assets in the care of third parties. The case is intended for a course in auditing, risk management, or management accounting. It is based on actual events that resulted in significant loss to a financial institution, as well as a great deal of negative publicity. To maintain confidentiality, the names of the trust company and persons involved have been changed.