ACTG 59: FRAUD EXAMINATION
Foothill College Course Outline of Record
|Hours:||5 lecture per week (60 total per quarter)|
|Advisory:||Elementary Algebra or equivalent; demonstrated proficiency in English by placement via multiple measures OR through an equivalent placement process OR completion of ESLL 125 & ESLL 249.|
|Degree & Credit Status:||Degree-Applicable Credit Course|
|Grade Type:||Letter Grade (Request for Pass/No Pass)|
Student Learning Outcomes
- A successful student will be able to perform related calculations and demonstrate the ability to use methods and /or procedures to detect financial fraud.
- A successful student will be able to explain fraud examination terminology, principles, and concepts.
The student will be able to:
A. Identify the fraud triangle and explain why people and organizations commit fraud.
B. Discuss a variety of fraud schemes.
C. Identify internal controls that help detect and prevent fraud.
D. Explain how allegations should be investigated and resolved.
E. Explain the types of fraud fighting careers available today.
A. Explain fraud
1. Define Fraud
2. Define Abuse
3. Distinction between auditing, fraud examination, and forensic accounting
4. Explain the theory of the Fraud Triangle
B. Cash receipt schemes and other Asset misappropriations
1. Skimming Schemes
2. Cash larceny schemes
3. Noncash misappropriation schemes
C. Cash Disbursement Schemes
1. Billing Schemes
2. Check tampering schemes
3. Payroll schemes
4. Expense reimbursement schemes
5. Register Disbursement Schemes
1. Define Corruption and bribery
2. Understand kickback and bid-rigging schemes
3. Understand Conflict of Interests
E. Financial Statement Fraud
1. Identify reasons why management might overstate/understate performance
2. Describe the ways in which financial statement fraud is committed
3. Understand financial statement analysis for detecting fraud
4. Understand the importance of SAS No. 99
F. Fraud Investigations
1. What circumstances would necessitate an investigation
2. The definition of evidence
3. Understand the importance of documentary evidence
5. Report Writing
Special Facilities and/or Equipment
Method(s) of Evaluation
Examinations, quizzes, computerized assignments, written reports, and group activities.
Method(s) of Instruction
Lecture, electronic discussions, group work, case studies.
Representative Text(s) and Other Materials
Albrecht, W. Steve, Chad O. Albrecht, Conan C. Albrecht, and Mark F. Zimbleman. Fraud Examination. 5th ed. Cengage, 2015.
Types and/or Examples of Required Reading, Writing, and Outside of Class Assignments
A. Reading of corporate annual reports
C. Journal of Accountancy
D. AICPA Auditing Standards - Au Sec 316 (SAS 99) may be found on the AICPA website: www.aicpa.org (go to Standards and click on Research)