Just in time for Easter, new toy recalls have popped up, sufficiently scaring both parents and the Easter Bunny. I spoke with the Easter Bunny earlier today and he said he's really exasperated with the situation. After all the publicity about unsafe toys containing lead and detachable parts, he's confused about why toy companies aren't being more careful.
A group of college chemistry students in Ohio examined 45 toys, and found that lead paint was present on 13 of those toys. (That's almost one-third of them!) Obviously, the risk with these toys is that the lead paint could chip off and be ingested by kids.And Mega Brands recalled over a million toys made in China that have small magnets that could fall out and become a choking hazard for children. Magnets are especially dangerous when ingested because multiple magnets could cause serious problems in the stomach and intestines. This isn't the first time a magnetic product from Mega Brands has had to be recalled in the last couple of years.
The Easter Bunny is very alarmed about these risks with toys. He said he considered only giving candy in Easter baskets, but then became concerned about sugar and cavities. He can't win this year! Parents, please be careful when selecting toys for your children. It seems that even with all the warnings and publicity, toy makers still aren't being cautious enough.
Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.
Take the first steps to building your portfolio.View Course »