Student guide Faculty of Economics A.Y. 2011/12

Forensic Accounting
Aim of the course
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, valuation, 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:
    * litigation support
    * expert witnessing
    * fraud examination
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.
Risk assessment and auditing
- processes and procedures analysis
 Fraud investigation and prevention
- financial statements frauds
- misappropriation
Dispute resolution and litigation support,
- royalty reviews,
- warranty claims
- arbitration
expert testimony
- the role of the Expert Witness
 Money-laundering and other criminal investigations
The assessment is based on a written exam at the end of the course.
For attending students only, the exam is made of two written tests (midterm test and final test).
Sufficiency in both tests is required to pass the exam.
Reading list
-         A Guide to Forensic Accounting Investigation, Thomas W. Golden, Steven L. Skalak, and Mona M. Clayton, John Wiley & Sons, Inc., Hoboken, New Jersey, 2006;
-         Howard M. Schilit, Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financlal R.epotts, Second Edition, McGraw-Hill, 2002.
-         Charles W. Mulrord - Eugene E. Comiskey, The Financial Numbers Game: Detecting Creative Accounting Practices, Wiley, 2005.
-         Howard Silverstone - Howard R. Davia, Fraud 101: Techniques and Strategies for Detection, Wiley, 2005
-         Edward Ketz, Hidden Financial Risk: Understanding Off-Balance Sheet Accounting, Wiley, 2003
-         Teaching material on the Liuc Website.