A86041 Forensic Accounting

At the end of the course the student will be able to:
a)    Evaluate risks of fraud or situations more likely to result in fraudulent activity within an organization, identify and rank Fraud Risk Factors.
b)    Describe the components of the control environment, risk assessment and control activities, implement and review internal accounting controls, understanding why they are important in preventing fraud, and how the lack of such controls create an atmosphere conducive to fraud.
c)    Use some important and common evaluative methods used in fraud investigation to assess whether there is a heightened likelihood of fraud.
d)    Survey financial ratios and other tools for financial statement analysis in searching for financial statement irregularities, demonstrate an understanding of how money-laundering schemes are used to hide the proceeds of criminal activity and to finance terrorist activities, identify and describe procedures and methods used in tracing assets.
e)    Describe the various dispute resolution alternatives available to resolve disputes.
f)    Apply the knowledge, tools and methods of fraud detection to a practical case.  
 

At the end of the course the student will be able to:
a)    Identify particular areas where fraud commonly occurs, learning specific fraud detection methods for those situations and the symptoms of fraud in various schemes.  
b)    Understand how computers are used to commit fraud or to detect fraud.
c)    Understand the nature of fraud prosecutions, the legal process for fraud prosecutions, how to maintain and safeguard evidence for prosecution and recognize concerns in the collection and presentation of the evidence.
d)    Understand the nature of fraud examination and the interviewing process in gathering and evaluating evidence.
e)    Compare, assess and recognize the roles of persons or groups involved in fraud investigation, fraud prevention, anti-fraud policy development, and fraud prosecution. 

Forensic Accounting has been developed specifically to equip accountants, attorneys, and financial managers with the skills they need to uncover financial fraud.
As one of the fastest growing areas of accounting, "Forensic" means legal and investigative. Hence the program focuses on fraud investigation and prevention, dispute resolution, litigation support, business valuation and quantification of damages, expert testimony and money-laundering and other criminal investigations.
This course therefore aims to provide a progressive, challenging and stimulating framework of study giving a comprehensive range of skills covering the three core areas of forensic accounting:
-    fraud examination
-    expert witnessing
-    litigation support
through the application of professional forensic accounting tools, models, techniques and knowledge.
The course will allow to develop accounting skills for use in litigation - civil, criminal and corporate (including business valuation, assessment of economic damages, proceeds of crime, fraud and money laundering).
Alongside processes and procedures and through an extensive use of case studies, students will learn how to investigate a case, gather evidence, prepare expert reports and provide evidence.

 

This course will use a variety of teaching methods including lectures, readings, PowerPoint presentations, case studies and statement analysis. There will be a number of guest speakers who will share their on field experience and knowledge.
Lectures are held throughout the entire semester. Students are responsible for learning the material before coming to class and for providing a meaningful contribution to the discussion led by the instructor. It means to be able to provide accurate and sensible answers and comments whenever personally quizzed by the instructor (it will happen several time during each lecture) and to contribute new and original ideas.
While the content has been designed for an international audience, a light tilt towards the Italian regulatory setting as designed by laws, exchange norms, authority rules and self regulation may still be present.
Students are responsible for consulting on a regular basis the website of the course on “http://my.liuc.it”  where updates, additional material and slides about the course are posted. No excuse accepted for any failure during the course students may incur into due to a delayed consultation of the website.
Students are expected to participate actively in class discussions and activities, so they should make every effort to attend all the classes. If a student must miss any class for any reason, a brief e-mail to inform the instructors would be appreciated. Since the class meets once a week, it is important that students don’t miss any class.
Excessive absences will result in a reduction in the points awarded for “Class Participation”.
 

For students attending classes, grade is based on class participation (20%) and two written tests (40% mid term test / 40% end term test). Sufficiency in both test is required to pass the exam.
All other students should pass a written exam.