Author : | Patricia McCarthy, MBA |
Course Length : | Pages: 16 ||| Word Count: 8216 ||| Review Questions: 3 ||| Final Exam Questions: 5 |
CPE Credits : | 1.0 |
IRS Credits : | 0 |
Price : | $12.95 |
Passing Score : | 70% |
Course Type: | NASBA QAS - Text - NASBA Registry |
Technical Designation: | Technical |
Primary Subject-Field Of Study: | Auditing - Auditing for Course Id 1323 |
Description : | 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. |
Usage Rank : | 38333 |
Release : | 2024 |
Version : | 1.0 |
Prerequisites : | None. |
Experience Level : | Overview |
Additional Contents : | Complete, no additional material needed. |
Additional Links : |
Crossing the Line
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Advance Preparation : | None. |
Delivery Method : | QAS Self Study |
Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
Revision Date : | 20-Aug-2024 |
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 - NASBA Registry - 1323 |
Keywords : | Auditing, Crossing, Line, Cases, Financial, Statement, Fraud, Auditor, Deception, cpe, cpa, online course |
Learning Objectives : |
Course Learning Objectives Upon completion of this course, you should be able to:
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Course Contents : | Chapter 1 - Crossing the Line - Cases in Financial Statement Fraud and Auditor Deception Course Overview Dewey & LeBouef Background Principle Administrative Personnel at Dewey & LeBouef Financial Statement Fraud in 2008 2008 Adjustments Damaging Emails Financial Statement Fraud in 2009 2009 Adjustments More Damaging Emails Reduction in Covenant The $150 Million Bond Offering Collapse of Dewey & LeBouef The Auditor Criminal Charges and the Outcome Discussion of the Dewey & LeBouef Case The Motivation Behind the Adjustments How was the Auditor Deceived? Lessons Learned ContinuityX Background Principle Personnel Alleged Financial Statement Fraud The Scheme is Exposed Source of Funding The Auditor The Outcome Discussion of the ContinuityX Case The Motivation Lessons Learned Chapter 1 Review Questions Glossary |