22430 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:

Undergraduate

Result type: Grade and marks

Requisite(s): (22207 Accounting for Business Decisions B OR 22208 Accounting, Business and Society) AND 22420 Accounting Standards and Regulations) OR ((40 credit points of completed study in spk(s): C10446 Bachelor of Criminology OR 40 credit points of completed study in spk(s): C10447 Bachelor of Criminology Bachelor of International Studies OR 40 credit points of completed study in spk(s): C10448 Bachelor of Criminology Bachelor of Forensic Science OR 40 credit points of completed study in spk(s): C10472 Bachelor of Criminology Bachelor of Cybersecurity OR 40 credit points of completed study in spk(s): C10478 Bachelor of Psychology Bachelor of Criminology)
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 investigative 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. The subject aims to help students better understand fraud and forensic accounting so that they may provide greater value in any business-related role, protecting the assets of any enterprise.

Subject learning objectives (SLOs)

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

1.	Explain sources of fraud, the psychology behind fraud and financial investigations
2.	Explain and apply legal principles surrounding fraud investigations and litigation within Australia
3.	Describe risk assessments and methodologies to detect fraudulent schemes observed in organisations
4.	Identify and assess sources of evidence to investigate fraudulent schemes
5.	Apply technology to extract and analyse financial data to support investigations

Contribution to the development of graduate attributes

The control of resources within a business or organisation is important to financial success and viability. Thus, understanding how fraud is conducted and how to apply accounting and non-accounting information to prevent and detect fraud is important for those involved in the business world.

This subject contributes to the development of the following graduate attribute(s):

Intellectual rigour and innovative problem solving
Professional and technical competence

Teaching and learning strategies

The subject is taught in a blended mode with self-directed learning content provided on Canvas and live collaborative tutorials. Students should work through the learning content on Canvas before attending their tutorial. During tutorials, students will stretch their understanding of the weekly topic through small group problem solving of complex fraud cases with the support of their peers and their tutor. Students will have access to feedback via multiple methods – this includes automated feedback through learning activities on Canvas, feedback from educators and peers in tutorials, and from markers/assessors on their assessment submissions. Extensive use is made of Canvas and other interactive platforms, with all learning resources posted electronically and discussion forums providing a response within 48 hours (during business days).

Content (topics)

Understanding fraud
The background of fraud auditing and forensic accounting
Assessing the risk of fraud
Preventing and detecting fraud
Gathering evidence of fraud

Assessment

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

Objective(s):	This addresses subject learning objective(s): 1, 2, 3 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): 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.

Required texts

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

References

https://theconversation.com/how-to-combat-the-unethical-and-costly-use-of-deepfakes-184722

Alshurafat H., Al Shbail, M.O. and E. Mansour (2021) Strengths and weaknesses of forensic accounting: an implication on the socio-economic development, Journal of Business and Socio-economic Development, (1)2, https://www.emerald.com/insight/content/doi/10.1108/JBSED-03-2021-0026/full/html