Crossing the Line: Cases in Financial Statement Fraud and Auditor Deception

Price: $9.75

CPE Credits: 1.0

Category: ,

Course Number: AUCROSMC

crossing the line -fraud cpe

Description: Wow! This course is a must read.  You won’t believe what these guys tried! 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. Table of Contents
Delivery Method: Online QAS Self Study.
Level: Overview.
Prerequisites: None
Advanced Preparation: None

Author: Joseph Helstrom, CPA
Publication:  November 16, 2017
Format: PDF
Pages: 36
Passing Grade: 70%
Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.
CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants 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

Description: Wow! This course is a must read.  You won’t believe what these guys tried! 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. Table of Contents
Delivery Method: Online QAS Self Study.
Level: Overview.
Prerequisites: None
Advanced Preparation: None

Author: Joseph Helstrom, CPA
Publication:  November 16, 2017
Format: PDF
Pages: 36
Passing Grade: 70%
Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.
CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants 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
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