fraud auditing course Essay

Submitted By winnie969
Words: 920
Pages: 4
Open Document
HW Chapter 1) In outline form, explain the following elements:
Pretrial Support
Trial Support
Expert Witnesses

Pretrial support:
In outline form, the pretrial stage includes: writing a report, establishing causation, gathering facts, translating Jargon, organizing data and then formulating strategy.
At the pretrial stage, the forensic accountant may be asked by the attorney to write a report on any findings, to establish causation between the defendant’s actions and the plaintiff’s losses, to gather facts to support the case, to translate accounting jargon into understandable English, to organize the data supporting the case, or to assist in the formulation of a strategy.
Trial Support:
As the trial coming, the expert witness will prepare testimony and rehearse for the courtroom appearance. Preparing exhibits is an important part of this process. The experts on both sides can aid attorneys during the trial process. The attorney for the plaintiff is trying to develop a strong theory of causation and a theory of damages. The attorney for the defendant is trying to discredit those theories. The forensic accountant’s expertise in business matters can be very helpful to the attorney in analyzing the situation as it develops in court.
Expert Witnesses:
The judge at trial will decide whether a purported expert qualifies as an expert testimony. To determine whether a witness is qualified, the judge must be convinced that the individual knows or understands the matters about which testimony is to be rendered and that the expert possesses special knowledge, experience, training, or skills that pertain to the case and testimony.

HW Chapter 2: List the Certifications Available to a Forensic Accountant with a brief description of the requirements and skills acquired

Certified Forensic Financial Analyst (CFFA)
1.Hold a valid and unrevoked CPA license or certificate issued by a legally constituted state authority
2.Pass the CFF examination. Applicants must attest to meeting the minimum Business Experience and Education requirements and pay the appropriate credential fee. Business Experience Requirement
CFF candidates must have a minimum of 1,000 hours of business experience in forensic accounting within the 5-year period preceding the date of the CFF application. Education Requirement
CFF candidates must have 75hours of forensic accounting related continuing professional education (CPE). All hours must have been obtained within the 5-year period preceding the date of the CFF application.

Certified Valuation Analyst:
For CPAs, they should hold an active, valid, and unrevoked CPA license. For Non-CPAs, they should hold a business degree or higher business degree from an accredited college or university.
In addition, all applicants should be a practitioner member in good standing with NACVA and need to submit three personal and three business references and pass a comprehensive, five-hour, multiple-choice, proctored examination.

Certified Forensic Accountant (Cr.FA)
Candidates need to hold the Certified Public Accountant (CPA) designation; have a bachelor’s degree or higher; have a background in forensic accounting; complete and pass the Cr.FA examination; provide the ACFEI with photocopies of all degrees, diplomas, certificates, and licenses earned.
If applicants aren’t a CPA but meet all the other requirements to enroll in the Cr.FA program, you can earn a Certificate of Completion upon passing the exam but can’t use the Cr.Fa designation.

HW Chapters 3 and 4:

Review Handout of Financial Statements and Tax Returns to identify areas of financial fraud. Explain why you think certain areas need more analysis. What additional procedures would you perform?
According to the handout of Financial Statements of the ABC Clothing Company for 4 years from 2003-2006, a vertical analysis is used. In the income statement, net
Show More

Related Documents: fraud auditing course Essay

Acc 562 Week 7 Discussion Acc562 Week 7 Discussion Essay

ACC 562 Complete Course Click below link for Answer visit www.workbank247.com http://workbank247.com/q/acc-562-complete-course-week-1-to-week-11/8378 http://workbank247.com/q/acc-562-complete-course-week-1-to-week-11/8378 ACC 562 Week 1 Discussion "Unbiased Reporting" Please respond to the following: • Analyze the need for unbiased financial reporting. Based on your analysis, determine at least two (2) drivers that may cause financial reporting to be biased. Provide a rationale to support your…

Words 2470 - Pages 10

Sarbanes Oxley Act Research Paper

ACC 403 – Auditing A paper on Sarbanes-Oxley Act Submitted to Professor Leeann Lane In partial fulfillment for the requirements of ACC 403 – Auditing Assignment #1 Strayer University at Woodbridge Accounting Woodbridge, VA By William J. Thomson SU200060080 850-736-5763 February 23, 2013 Sarbanes-Oxley Act The Sarbanes-Oxley Act (SOX) was signed into Law in July 2002. The necessity of such an act was considered needed to combat the fraud committed…

Words 1737 - Pages 7

The Master Of Science In Accountancy

encountered in the accounting profession. Coursework includes accounting theory and research, accounting information systems, managerial accounting, financial reporting, auditing, taxation, not-for-profit and government accounting, forensic accounting, and accounting ethics. ACC543 Managerial Accounting & Legal Aspects Of Business In this course, students examine managerial accounting as part of the business’s accounting information system and legal aspects of the business enterprise. Topics include managerial…

Words 972 - Pages 4

Case Study: Nextcard, Inc.

Nextcard, Inc. R. Elaina Perkins ACCT622 Liberty University In the late 1990’s Jeremy Lent created NextCard Inc. as an organization that would provide its customers with the opportunity to obtain a credit card in a very short period of time. Initially the business was successful because Lent hired marketing researchers to develop advertising that would target internet users who possessed credit cards with high balances and were frequent users of them. During its first year of operation NextCard…

Words 1662 - Pages 7

Scientific Method and Cs Essay

Advanced Auditing Spring 2009 Instructor: D. Scott Showalter, CPA Office: 3170 Nelson Hall Office Phone: 513-0526 E-mail: scott_showalter@ncsu.edu Class Hours: Tues and Thurs: 1:30-2:45pm (Section 1) and 3:00-4:15pm (Section 2) Classroom: Nelson 1140 Office Hours: Tues and Thurs: 9:00-10:00am and 12:00-1:00pm Also available by appointment. (I am generally around MWF, call ahead to confirm) 1. Course Objectives This course is an advanced course in auditing. The course materials…

Words 3434 - Pages 14

Analyse the Problem of Accounting Fraud in a Listed Company and Evaluate Possible Solutions Essay

Analyse the problem of accounting fraud in a listed company and evaluate possible solutions In 2001, Enron Corporation went into bankruptcy due to the disclosure of false information in its financial statements. Similarly, when Lehman Brothers collapsed there was no evidence that it had ever publicly disclosed certain detrimental accounting information. Cases of accounting fraud such as these have become increasingly serious. Accounting fraud can result in creditors and stockholders losing confidence…

Words 1770 - Pages 8

Adelphia Research Project Essay

Research Project on Adelphia Course # 6200 : 320 Section # 800 Adelphia Communications Corporation was a cable company, whose owners, John Rigas and his son Timothy,” were charged with bank fraud, securities fraud, and conspiracy.” (Reference #4) They were charged with all fifteen accounts of securities fraud. Another son of his was acquitted, as well as the former treasurer, Michael Mulcahey. “John and Timothy now face 30 years in prison because of the bank fraud charge.” (Reference #4) “They…

Words 1185 - Pages 5

Midterm: Audit and Net Worth Essay

Comparing cash flow with income. d. Using the net worth method. e. None of the above. 7. Fighting fraud is a _______________ and not a sprint. 8. The forensic certification of the AICPA is the: a. CFFA b. Cr. FA c. CFE d. FCPA e. CFF 9. Fraud is much like an iceberg: many of the behavioral factors lurk on top of the water ready to sink a corporation. a. True b. False 10. The older fraud pyramid does not contain this factor: a. Means. b. Motive. c. Rationalization. d. Opportunity…

Words 1028 - Pages 5

Internal Accountant Memo Essay

XYZ Occupational fraud refers to use of a person’s job for individual benefits through the purposeful mishandling or misappropriation of his or her employer’s capital or assets. Organization success in any venture lies in understanding of key elements relating to operational and procedural issues. This memo will cover the effects of occupational fraud and abuse on an organization, government oversight of accounting fraud and its effect on an organization, prospective fraud schemes and recommendation…

Words 1064 - Pages 5

Essay about Media Violence

Fraud Detection and Forensic Accounting ¨ Fatma Ulucan Ozkul and Ayse Pamukcu ¸ ¸ 2 2.1 Definitions of Fraud A quick search for the meaning of fraud in the dictionary states that fraud is “deceit, impersonation with intent to deceive, criminal deception done with the intention of gaining an advantage.” The Institute of Turkish History explains the word fraud as “a deceptive trick, scam, game, artifice, cabal which is committed to cheat, mislead someone” and “contributing something useless…

Words 9629 - Pages 39