Chat with us, powered by LiveChat

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

Customer Rating
Field of Study
Auditing
Level
Basic
Credits
1
Qualifies For
CPE



Price:  $9.99
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.

Additional information

Credits

1

Format

Self-Study Download

Company Code

Self Study

Yellow Book Approved

0

CFP Approved

0

IRS Approved

0

CTEC Approved

0

Field of Study Credits

Auditing (Technical) (1)

Field of Study Department

Auditing (Technical)

Course Version

2019-01

CPE Approved

1

Pre-requistes:

None

Knowledge Level:

Basic

Major Topics:

  • Overview of Dewey & Lebouef case
  • Overview of ContinuityX case

Learning Objectives:

  • 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

Designed For:

All CPAs
Follow by Email
Facebook
Twitter
LinkedIn