Accounting Fraud - Recent Cases (Course Id 905)

• Who is this course for?
  This course is intended for anyone needing Continuing Professional Education (CPE), particularly CPAs and accounting professionals.

• What is this course about or what problem does this course solve?
  This course explores three recent accounting fraud cases to highlight the importance of internal controls, ethical oversight, and the CPA auditor’s role in detecting and preventing fraud.

• How can the knowledge from this course be used?
  Participants can apply the knowledge gained to better understand and implement internal controls, enhance fraud detection processes, and ensure proper oversight in their organizations or client audits.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  It emphasizes the CPA’s responsibilities related to internal controls and fraud detection, which are critical to maintaining public trust and regulatory compliance, and it also satisfies California's fraud CPE requirement.

• When is this course relevant or timely?
  The course is relevant upon its 2024 release, especially in the context of ongoing corporate fraud issues and evolving audit responsibilities.

• How is a course like this consumed or used?
  This is a QAS Self Study course delivered in text format, requiring completion of review and final exam questions with a passing score to earn CPE credit.

This course uses cases of three recent accounting frauds to demonstrate the importance of internal controls, management oversight by the board of directors and an organizational emphasis on ethics in the prevention of fraud.  It also examines the CPA auditor’s responsibility for internal controls and the prevention and detection of fraud as part of its work.  The case studies utilized relate to Koss Corporation, Fair Finance Company and Diamond Foods. 

Please Note: These Fraud CPE credits satisfy the California Board of Accountancy (CBA) fraud requirement.

NASBA QAS - Text - NASBA Registry - 905

Course Learning Objectives

• Recognize the auditor responsibility for internal controls and fraud detection as part of its audit
  
• Associate fraud with inadequate internal controls
  
• Recognize the importance of independent board of director and audit committee oversight in the prevention of fraud

Chapter 1 - Accounting Fraud - Recent Cases

Course Learning Objectives

Fraud Overview

Koss Corporation

Fair Finance Company

Diamond Foods

Chapter 1 Review Questions

Glossary