CE/CPE Course Information

Lessons for the Auditor from Major Accounting Frauds

CPE Credits: 4
Subject Area: Accounting and Auditing
Field of Study: Auditing
Program Level: Overview
Lesson Version: 17-1
Publication/Revision Date: August 30, 2018
Prerequisites/Advanced Preparation: None
Written By: William A. Hillison, Ph.D., CPA, CMA

After completing this course, you will be able to
  • Recognize the types of fraud and apply the fraud risk model
  • Identify and use analytical procedures
  • Recognize fraud risk factors in actual cases
  • Determine the lessons to be learned from fraud cases
  • Identify activities of the Public Company Accounting Oversight Board
  • Identify the major requirements of the Sarbanes-Oxley Act of 2002
Course Topics
  1. Overview of the Issues
  2. Types of Fraud and the Fraud Risk Model
  3. Use of Analytical Procedures
  4. Misclassifying Expenses as Assets – WorldCom
  5. Complex Transactions – Global Crossing Limited
  6. Unbridled Trust – Baptist Foundation of Arizona
  7. Ponzi Schemes – Bernard Madoff
  8. Importance of Brainstorming – Sunbeam
  9. Analysts’ Expectations – HealthSouth Corporation
  10. Wholesalers and Retailers Fraud Risk – Phar-Mor
  11. The “Tone at the Top” – Qwest
  12. Related Party Transactions – Enron
  13. Can You Apply the Lessons?
  14. Enron and Beyond

This self-study course consists of an Audiovisual presentation or a 20-question True/False Introductory quiz, a Knowledge Transfer Outline with multiple-choice questions for study and review, and a Qualified Assessment of 20 questions.

This course is designed for your convenience. You may log out at any time during the course; your current position and all work will be saved. The next time you log in, you can resume right where you logged off.

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