Which cases does this course examine for financial statement fraud?

The Crossing the Line course examines Dewey and LeBouef and ContinuityX as real financial statement fraud cases.

How does this course connect fraud elements to audit procedures?

This course associates the primary elements of fraud with audit procedures that may have detected it.

Why did Dewey and LeBouef conceal adjustments, according to this course?

This course explains how personnel made inappropriate financial adjustments to meet bank lending covenants.

How many CPE credits does this Crossing the Line course provide?

Crossing the Line Cases in Financial Statement Fraud and Auditor Deception is a Technical, self study video course in Auditing worth 1.0 CPE credit, requiring a 5 question final exam preceded by 3 review questions (optional) at a 70% passing score. CPEthink is approved by NASBA as a CPE sponsor and lists this course on the NASBA site as a courtesy for CPAs to search https://nasba.org.

Does this course count toward the California fraud CPE requirement?

Yes, Crossing the Line Cases in Financial Statement Fraud and Auditor Deception (Video) provides one hour of CPE credit in fraud prevention, detection, or reporting, which counts toward the four hour fraud CPE requirement imposed by the California Board of Accountancy (http://www.dca.ca.gov/cba) on CPAs subject to the accounting and auditing, governmental auditing, or preparation engagement CE requirement.

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Crossing the Line - Cases in Financial Statement Fraud and Auditor Deception (Video) (Course Id 2589)

QAS / Registry

Author:	Patricia McCarthy, MBA
Course Length:	Pages: 3 \|\|\| Review Questions: 3 \|\|\| Final Exam Questions: 5
CPE Credits:	1.0
IRS Credits:	0
Price:	$14.95
Passing Score:	70%
Course Type:	Video

Crossing the Line - Cases in Financial Statement Fraud and Auditor Deception (Video) - CPE course for CPAs

Technical Designation:	Technical
Field Of Study:	Auditing
Approved Audience:	NASBA QAS - NASBA Registry
Key Takeaways:	This course examines two real life financial statement fraud cases, Dewey and LeBouef and ContinuityX, to show how fraudulent practices were concealed from auditors. Examines how Dewey and LeBouef made inappropriate financial adjustments to meet bank lending covenants before its 2012 bankruptcy. Covers the ContinuityX case as a second example of auditor deception in financial statement fraud. Helps professionals relate elements of financial statement fraud to audit procedures that could have detected it. Worth 1.0 CPE credit in Auditing as a self study video course fulfilling the California Board of Accountancy fraud requirement, requiring a 5 question final exam preceded by 3 review questions (optional) and a 70% passing score.
Frequently Asked Questions:	Which cases does this course examine for financial statement fraud? The Crossing the Line course examines Dewey and LeBouef and ContinuityX as real financial statement fraud cases. How does this course connect fraud elements to audit procedures? This course associates the primary elements of fraud with audit procedures that may have detected it. Why did Dewey and LeBouef conceal adjustments, according to this course? This course explains how personnel made inappropriate financial adjustments to meet bank lending covenants. How many CPE credits does this Crossing the Line course provide? Crossing the Line Cases in Financial Statement Fraud and Auditor Deception is a Technical, self study video course in Auditing worth 1.0 CPE credit, requiring a 5 question final exam preceded by 3 review questions (optional) at a 70% passing score. CPEthink is approved by NASBA as a CPE sponsor and lists this course on the NASBA site as a courtesy for CPAs to search https://nasba.org. Does this course count toward the California fraud CPE requirement? Yes, Crossing the Line Cases in Financial Statement Fraud and Auditor Deception (Video) provides one hour of CPE credit in fraud prevention, detection, or reporting, which counts toward the four hour fraud CPE requirement imposed by the California Board of Accountancy (http://www.dca.ca.gov/cba) on CPAs subject to the accounting and auditing, governmental auditing, or preparation engagement CE requirement.
Description:	This course is based on two recent financial statement fraud cases; Dewey & LeBouef and ContinuityX. Dewey & LeBouef was a high-profile law firm that, at its peak, had over 3,000 employees and over 1,400 lawyers. It is alleged that personnel at Dewey & LeBouef made inappropriate financial adjustments starting in 2008 to meet its bank lending covenants and planned to conceal these adjustments from its “clueless auditor”. Dewey & LeBouef declared bankruptcy in 2012. ContinuityX was an internet services reseller that, according to an SEC complaint, fabricated 99% of its revenue. It was audited by a firm that was fined and disciplined by the SEC and the partner responsible for the audit was also fined and permanently suspended from practicing before the SEC. ContinuityX declared bankruptcy in 2013. Both cases involve financial statement fraud, auditor deception and some lessons to be learned. Please Note: These Fraud CPE credits satisfy the California Board of Accountancy (CBA) fraud requirement.
Usage Rank:	19167
Release:	2025
Version:	1.0
Prerequisites:	None.
Experience Level:	Overview
Additional Contents:	Complete, no additional material needed.
Additional Links:	External: Financial Statement Manipulation Internal: Detecting Financial Statement Fraud - Fraud Schemes CPE Internal: Financial Statement Fraud EMS - Detecting Revenue & Earnings Manipulation CPE External: SEC Litigation Release - “SEC Charges Five Executives and Finance Professionals Behind Fraudulent Bond Offering by Dewey & LeBoeuf
Advance Preparation:	None.
Delivery Method:	QAS Self Study
Intended Participants:	Anyone needing Continuing Professional Education (CPE).
Revision Date:	19-Jul-2025
NASBA Course Declaration:	Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Keywords:	Crossing the Line - Cases in Financial Statement Fraud and Auditor Deception (Video) - CPE course for CPAs
Learning Objectives:	Course Learning Objectives Upon completion of this course, you should be able to: Recognize the primary elements of financial statement fraud in the Dewy & LeBouef and ContinuityX cases Associate the primary elements of financial statement fraud in the cases in this course with audit procedures that may have detected the fraud
Course Contents:	Chapter 1 - Crossing the Line - Cases in Financial Statement Fraud and Auditor Deception Chapter 1 Review Questions Glossary

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Crossing the Line - Cases in Financial Statement Fraud and Auditor Deception (Video) (Course Id 2589)

Author:

Course Length:

CPE Credits:

IRS Credits:

Price:

Passing Score:

Course Type:

Technical Designation:

Field Of Study:

Approved Audience:

Key Takeaways:

Frequently Asked Questions:

Which cases does this course examine for financial statement fraud?

How does this course connect fraud elements to audit procedures?

Why did Dewey and LeBouef conceal adjustments, according to this course?

How many CPE credits does this Crossing the Line course provide?

Does this course count toward the California fraud CPE requirement?

Description:

Usage Rank:

Release:

Version:

Prerequisites:

Experience Level:

Additional Contents:

Additional Links:

Advance Preparation:

Delivery Method:

Intended Participants:

Revision Date:

NASBA Course Declaration:

Keywords:

Learning Objectives:

Course Contents: