1 CPE 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.
Learning Objectives
- Recognize the auditor responsibility for internal controls and fraud detection as part of its audit.
- Identify and associate fraud with inadequate internal controls.
- Recognize the importance of independent board of director and audit committee oversight in the prevention of fraud.
Last updated/reviewed: August 16, 2024
50 Reviews (189 ratings)
Reviews
Anonymous
()
A strong foundational course on accounting fraud. I liked the component delivery through case studies, which illustrated different aspects of internal controls, the auditor's role, and governance relative to the topic of fraud. Highly recommended!
Matthew Williams
(Accounting/HR at Famous Smoke Shop)
Interesting fraud cases and the structure was good noting the fraud, the motivations and how the fraud could have been prevented/steps to take in the future. However, please proofread the text. There are some obvious grammar and spelling errors that make this look unprofessional.
Anonymous
(Anonymous)
Great course on accounting fraud that gives some great case samples on the fraud perpetrated and how internal controls were lacking. This course is one that should be taken to get a foundation on the subject matter.
Anonymous
(Associate Director)
I love reading about the fraud cases, as it provides background on things to watch out for and to help create internal controls that will in effect limit these types of scenarios from occurring.
Anonymous
(Owner)
Interesting case studies on fraud. Understanding these studies, the motivations to commit fraud, and the proper controls to reduce the risk can help to both identify fraud and reduce fraud risk.
Tracey Fischer
(Senior Internal Auditor at Self)
I enjoyed reading real-life fraud cases. I personally could use more accounting experience, as I did not understand why it was unexpected that A/R was higher at year end was a red flag.
Sherman Bamford
(Accountant at Carilion Clinic)
Good case studies with analysis of how the fraud was perpetrated, motivation for the fraudulent activities, discussions of internal control failures, and implication for auditors.
Anonymous
()
Interesting cases and great breakdown of how fraud happened and what we as CPAs need to be on the look out for in order to make sure it doesn't happen under our watch.
San Juana Ortega
(Senior Accountant at Mattress Firm)
I really enjoyed this course because it was more of a case study with three different companies as examples. Made things a lot more interesting. Definitely recommend!
Anonymous
(Associate Director, CFCC Assurance)
Very interesting read on a fraud case. Helps reader identify all of the things the entity did wrong in terms of Auditors, Board of Directors and Internal Controls.
Anonymous
(Accountant)
Great class and some interesting insight into the problems that can arise from a lack of internal controls. Made me want to learn more about the auditing process.
Anonymous
(Accounting Manager)
This course was all about fraud case studies and what gave rise to the opportunity and also what could have been done to prevent it. Excellent course!
Anonymous
(Director, Governance)
Interesting to read these real-life examples of fraud. Great learning tool to help highlight the importance of SOX and appropriate internal controls.
Anonymous
(Controller)
The case studies were very interesting to read. The materials provided a good summary after each case to outline the reasons why the fraud occurred.
Anonymous
(Auditor)
Well-written summaries of three different fraud examples; helpful for reflecting on missing internal controls and red flags with real world examples.
Anonymous
()
great case studies to show different fraud examples and how they occurred. went into great detail on ways it could have been prevented as well!!
Craig Campbell
( at National Reconnaisance Office)
Great examples of how fraud can be conducted and not be detected and how strong internal controls could have prevented the frauds.
Anonymous
()
This course is comprised of case studies and, while interesting, I would have liked more details of the statutes and guidance.
Ashlee Krupa
(Senior Accounting Business Partner Coord.. at RJ Corman)
Very interesting and informative. I like how they gave application to both CPAs in industry as well as public accounting.
Anonymous
()
Very interesting cases. The text was set up well describing what happened and discussing applicable internal controls.
Anonymous
()
I really enjoyed the accounting fraud text-based course. The examples are very useful to share with my organization.
Anonymous
(Self Employed)
The content was valid, although it was very basic.
Grammatical errors distracted from the course presentation
Anonymous
(CPA, CFE, MBA)
The cases were interesting reading and the information was presented in a manner that was easy to understand.
Anonymous
(Accounts Payable Clerk)
Enjoyed reading about the Real Life Fraud Cases. The course showed me the importance of internal control.
Anonymous
(Analyst)
interesting contemporary fraud cases that illustrate lack of controls and ineffecting board structures.
Anonymous
(SFA)
Thank you for the course, it was an easy one to add to my assets.
I wish all courses were like that.
Anonymous
(Director)
Informative. Lots of information about recent frauds and great information regarding what was missed.
Anonymous
(Owner)
A video with some slides would have made the course more interesting but the content was very good.
Anonymous
()
Interesting case studies on fraud, including folks participating in fraud with no personal benefit.
Jonathan Peck
(Accountant at Google)
very high quality writing! fascinating case studies. the text version works better than videos.
Nancy Horton
( at Horton Consulting NW)
Interesting and different case studies highlighting how fraud can be perpetrated in many ways.
Joshua Thomas
(Senior Auditor at CBP DHS GOV)
Great examples Fraud and the importance of good and effective internal controls. Great course!
Anonymous
(Assistant Controller)
Good reminder of what can go wrong when appropriate controls and oversight are not in place.
Corey Masters
(Accountant, Internal Auditor, Risk Speci.. at Self)
A good overview of accounting fraud. Many good insights identified. My first text class.
Anonymous
()
Great work, thank you so much, great work, very informative, great document, great read!
Anonymous
(Assurance Specialist)
Very well written and concise summaries! I really enjoyed reading about these cases!
William Barron
(Auditor Examiner at Georgia Department of Revenue)
The course provided information on fraud occurrences about which I was unfamiliar.
Sean Searley
( at Sean Searley)
Accounting Fraud (Text Based Course) - a true barn burner of mystery and fraud.
Anonymous
(Auditor)
Course was very helpful and gave really good examples on fraud situations
Anonymous
(internal audit consultant)
Very interesting cases, all new to me. I like the text-based format.
Anonymous
()
interesting case studies. well organized content and easy to follow.
Anonymous
(Auditor)
Very informative course. Will definitely assist in the audit field.
Anonymous
(Accountant)
Interesting and informative examples of real life fraud cases.
Anonymous
(Auditor)
Interesting cases to read through. Worth the read and time.
Anonymous
()
Accounting Fraud (Text Based Course) is an excellent course.
Anonymous
()
This was a thorough examination of 3 different fraud cases.
Anonymous
(Principal)
interesting examples and good overview of accounting fraud
Anonymous
(Director Net Revenue)
An interesting case study, hadn't heard of this one before
Anonymous
(Accounting Manager)
Good course on accounting fraud, thorough and detailed.
Anonymous
(Senior Accountant)
One of the best classes. I enjoyed each of the cases.
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Patricia McCarthyMember
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