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Fraud- Ensuring Integrity in Financial Reporting (Course Id 2108)

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Author : Jae K. Shim, Ph.D., CPA
Course Length : Pages: 48 ||| Word Count: 35,526 ||| Review Questions: 41 ||| Final Exam Questions: 30
CPE Credits : 6.0
IRS Credits : 0
Price : $53.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 2108

Description :

A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Since the turn of the century, the U.S. has seen some large corporate collapses and scandals due to shoddy and deceptive accounting practices. Many companies, shareholders and employees suffered as stock prices fell and reputations were tarnished when businesses conducted questionable practices.

This course is divided into four chapters. Chapter 1 identifies the common financial shenanigans demonstrated with a series of real-life cases and addressed ongoing financial reporting issues (e.g., restatements, SEC enforcement actions). The failure of corporate governance and auditor’s role in Enron’s collapse are also discussed. Chapter 2 explains the basic accounting rules for stock-based compensation. It also identifies regulations that protect investors from unethical business practices. Chapter 3 focuses on the impact of Sarbanes-Oxley Act including the creation of PCAOB, reforms of corporate America, and improvements in audit quality. It also discusses internal control reporting requirements, the role of the audit committee, and disclosure controls and personal accountability.  Chapter 4 identifies ways to promote high levels of accountability and transparency. It explains the importance of business ethics and corporate social responsibility. It also discusses the role of good corporate governance in protecting shareholder value.

Usage Rank : 0
Release : 2022
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 02-Jan-2023
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.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - 2108

Keywords : Accounting, Fraud,-Ensuring, Integrity, Financial, Reporting, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

After studying this course, you will be able to:
  • Identify techniques used to manipulate a company’s financials
  • Recognize common financial reporting issues
  • Recognize measurement and recognition of employee stock-based compensation
  • Identify regulations that protect investors from unethical business practices
  • Recognize how Sarbanes Oxley Act improves corporate behavior and enhances audit quality
  • Identify laws that govern social responsibilities of business
  • Recognize the role of good corporate governance in protecting shareholder value
Course Contents :

Chapter 1:   In Need of Financial Reporting Reform

Manipulation of Financial Performance

Improper Revenue Recognition

Inappropriate Earnings Management Practices

Concealed Liabilities and Expenses

Stock Option Backdating

Underreporting of Stock-Based Compensation

Overstated Pension Plan Assumptions

Use of Pro Forma Results

Errors and Violations

Financial Restatements

SEC Staff Comment Letters

SEC Enforcement Actions

Poor Corporate Governance

Audit Failures

Ineffective Board Oversight

Chapter 1 Review Questions

Chapter 2:    Protecting Investors

Accounting for Stock-Based Compensation


The Measurement Basis

Alternatives to Stock Options

SEC Regulations

Analyst Conflicts of Interest

Mutual Funds' Broker Rewards

Insider-Trading Disclosures

CFA Institute Research Objectivity Standards

Chapter 2 - Review Questions

Chapter 3:    Restoring Investor Confidence

Key Features

Oversight of Accounting Firms

Reforms of Corporate America

Improvements in Audit Quality

Strengthening Auditor Independence

Adopting Auditing Standards

Chapter 3 - Section 1 Review Questions

Internal Control Reporting Requirements

General Rules

The Principles of ICFR


Significant Deficiencies and Material Weaknesses

Role of the Audit Committee

Disclosure Controls and Personal Accountability

Certification of Financial Reports

Crime Penalty Enhancements

Cybersecurity Systems and Risk Reporting Act

Chapter 3 - Section 2  Review Questions

Chapter 4:    Promoting Accountability and Transparency

Business Ethics

Factors Influencing Business Ethics

Corporate Ethical Development Model

Codes of Ethical Conduct

Corporate Social Responsibility

The Concept of Social Responsibility

Principles of Social Responsibility

Legal Aspects of Social Responsibility

Principles of Good Governance

NYSE Corporate Governance Standards

Code of Conduct for Management Accountants

Chapter 4 Review Questions


CPE Accounting Course: https://www.cpethink.com/accounting-cpa-courses
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