22799 Forensic Accounting

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Subject handbook information prior to 2024 is available in the Archives.

UTS: Business: Accounting
Credit points: 6 cp

Subject level:

Postgraduate

Result type: Grade and marks

Requisite(s): 22748 Financial Reporting and Analysis
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.

Description

This subject provides an understanding of fraud and the important role of accounting in preventing and detecting fraud. The subject examines various types of accounting fraud including profit and loss and balance sheet fraud. The subject also discusses methods which can be used to detect and prevent fraud, and the techniques which can be used to collect and obtain evidence to document the occurrence of fraud.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:

1.	Appraise the role of the forensic accountant in preventing and detecting fraud
2.	Analyse different types of fraud include financial statement fraud, tax fraud and money laundering
3.	Explain and apply techniques which can be used to prevent and detect fraud
4.	Evaluate the processes of collecting evidence to document fraud
5.	Apply and compare techniques which are used to measure loss and damage arising from fraud

Contribution to the development of graduate attributes

The subject provides students with competencies in methodology of risk and evaluation of taking on a forensic engagement through evidence collection and evaluation of various accounting information and oral assertions, thereby developing students’ critical thinking, creativity and analytical skills. The subject also provides an understanding of relevant legislation and regulations, and professional and ethical requirements and responsibilities of forensic tasks, thereby developing students’ attitudes and values. Students who have successfully completed this subject have elementary practical experience at conducting parts of forensic engagements. This knowledge is important to students interested in any aspects of business, organisations and society.

This subject contributes to the development of the following graduate attributes:

Intellectual rigour and innovative problem solving
Social responsibility and cultural awareness
Professional and technical competence

Teaching and learning strategies

This subject is taught using a three hour workshop format. One of the principal learning strategies for this subject involves the preparation of assigned material prior to class. Students are required to read and reflect upon assigned readings and cases from the textbook and other sources and are expected to discuss and apply this learning when they come to class. The first part of each workshop will be devoted to the critical analysis and discussion of the case study and other materials which students have prepared prior to attending class. The second part of each workshop will involve a lecture and collaborative discussion in small student groups, as directed by the lecturer, to introduce the general concepts associated with fraud, identification of types of accounting fraud, evaluation of fraud prevention techniques and application of detection techniques. Students will be provided with feedback throughout the workshops, from the beginning (including the first four weeks) to end of the teaching session, as they complete tasks.

The learning management system is used in this subject for the dissemination of subject materials including lecture slides, case studies and general information. Student learning is also facilitated through online discussion forums which are available throughout semester to all students. These discussion forums can be used to ask questions relating to subject content and subject administration. The forums therefore provide an alternative method of obtaining feedback on your learning from subject staff and other students.

Subject teaching staff are also available for one-on-one consultation with students. The specific times that staff are available for consultation will be advised in class by your lecturer and can also be found on the learning management system. Meeting staff during consultation provides an opportunity for students individually or in groups to receive feedback on your learning in this subject.

Content (topics)

Accounting fraud including balance sheet, income statement and tax fraud
Techniques used to prevent and detect fraud
Collection of evidence to document fraud
Quantifying the loss arising from financial statement fraud

Assessment

Assessment task 1: Learning Portfolio (10% Individual and 30% Group)*

Objective(s):	This addresses subject learning objective(s): 1, 2, 3, 4 and 5
Weight:	40%
Length:	30 minuntes
Criteria:	Part A (10%): In-class fortnightly quiz* Level of understanding of theory Ability to apply theory to basic practical scenarios Note: Late submission of the assessment task will not be marked and awarded a mark of zero. Part B (30%): In-class tutorial problem* The effectiveness of student collaboration during the class in solving the tutorial problem of the week. The quality of the group’s involvement in class discussion about the tutorial problem. The level of clarity of communication in the electronic submission of the tutorial problem. The extent to which the electronic submission demonstrates an understanding of the subject learning objective(s) related to that week’s topic. Late submission policy: In accordance with the UTS Business School Extensions and late assessments protocol, tasks that must be submitted on a regular basis during or prior to class are not able to be submitted late. That is, any late submissions are rejected without marking. Where a student misses a quiz or class submission for Part A or Part B - they should endeavour to complete or attend as many future quizzes or classes as possible since the best 4 of 5 scores are used for Part A and the best 8 of 11 scores are used for Part B. Students who do not complete one half of the total number of quizzes (3) and/or one half of the tutorial problems (6) will have the weighting of that assessment added to the final examination conditional on the students submitting, receiving approval and complying with the requirements of special consideration in accordance with the UTS rules. If the composite mark for the final exam totals more than 50 percent and the student is in their final subject of their degree, the UTS rules on borderline result (range of 45-49) shall apply whereby students will be allowed to undertake a supplementary final examination. Where a student completes and passes a supplementary examination, the maximum mark awarded for the subject will be 50 Pass.

Assessment task 2: Assignment (Individual)

Objective(s):	This addresses subject learning objective(s): 2, 3, 4 and 5
Weight:	30%
Length:	All parts of the assessment will have a maximum of 2,200 words, excluding academic references and appendices. Students should reference source material in accordance with APA7. Advice related to academic referencing is on Canvas. The reflection is capped at 250 words.
Criteria:	Use of appropriate theory to develop and document a plan to identify potential fraud. Application of technical tools and techniques, analysis and critical thinking to identify fraud. Quality of the written report, documenting any potential fraud risks and identified fraud, considering the implications and ability to describe the next steps the organisation should take. Ability of students to be reflective and insightful when reflecting on their learning and behaviour

Assessment task 3: Final Exam (Individual)

Objective(s):	This addresses subject learning objective(s): 1, 2, 3, 4 and 5
Weight:	30%
Length:	1.5 hours
Criteria:	Application of the theories and tools/techniques learned during the class related to the 5 SLOs Ability to provide short written advice based on analysis conducted using forensic accounting tools and techniques

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

Recommended texts

Kranacher, M.J. and Riley, R. (2019). Forensic Accounting and Fraud Examination, 2nd Edition. Wiley