Students

ACCG8047 – Fundamentals of Forensic Accounting

2021 – Session 1, Special circumstances

Notice

As part of Phase 3 of our return to campus plan, most units will now run tutorials, seminars and other small group activities on campus, and most will keep an online version available to those students unable to return or those who choose to continue their studies online.

To check the availability of face-to-face and online activities for your unit, please go to timetable viewer. To check detailed information on unit assessments visit your unit's iLearn space or consult your unit convenor.

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Lecturer
Stefan Williams
Contact via By email please
Credit points Credit points
10
Prerequisites Prerequisites
ACCG611 or ACCG6011 or (admission to MAdvProfAcc or MCyberSec or GradCertForAccg or GradDipForAccg or MForAccgFinCri)
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

This unit examines issues relevant to forensic accounting and the role played by the forensic accountant in the legal and business context. It covers various techniques of financial fraud prevention, investigation and detection. Students will develop an understanding of the motivations for, and symptoms of, financial fraud. Topics include processes of evidence collection and evaluation, legal report writing, interviewing witnesses, fraud prevention, and an introduction to financial and data analysis processes. By the conclusion of the unit students will have gained essential forensic accounting skills.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

  • ULO2: Appraise the nature of, and concepts relevant to, civil, criminal and administrative procedure and articulate the role of forensic accounting in the calculation of commercial and economic damages, and the compiling of business valuation reports.
  • ULO1: Explore the role and character of forensic accounting and its relationship to the legal system including the legal, ethical and professional obligations of forensic accountants.
  • ULO3: Examine and investigate indicators of fraudulent activity and demonstrate knowledge of investigative processes and techniques, and their application.
  • ULO4: Analyse techniques in evidence collection and evaluation and develop the ability to present the results of an investigation in a legal context.
  • ULO5: Review and evaluate the role of governance structures, internal controls and compliance policies for the prevention of financial fraud.

Assessment Tasks

Name Weighting Hurdle Due
Participation 20% No All semester
Class Test 10% No 27/03/2021
Final Exam 30% No Semester 1 Examination Period
Assignment 40% No 29/05/2021

Participation

Assessment Type 1: Participatory task
Indicative Time on Task 2: 20 hours
Due: All semester
Weighting: 20%

 

This assessment involves evidence of preparation for, participation in, and contribution to the class and may include presentations, questions or written exercises.

 


On successful completion you will be able to:
  • Appraise the nature of, and concepts relevant to, civil, criminal and administrative procedure and articulate the role of forensic accounting in the calculation of commercial and economic damages, and the compiling of business valuation reports.
  • Explore the role and character of forensic accounting and its relationship to the legal system including the legal, ethical and professional obligations of forensic accountants.
  • Examine and investigate indicators of fraudulent activity and demonstrate knowledge of investigative processes and techniques, and their application.
  • Analyse techniques in evidence collection and evaluation and develop the ability to present the results of an investigation in a legal context.
  • Review and evaluate the role of governance structures, internal controls and compliance policies for the prevention of financial fraud.

Class Test

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 10 hours
Due: 27/03/2021
Weighting: 10%

 

The test will be held in class in the first half of the session. The test may include one, or a combination of, the following types of assessment: multiple-choice questions, true/false questions, short answer style questions.

 


On successful completion you will be able to:
  • Appraise the nature of, and concepts relevant to, civil, criminal and administrative procedure and articulate the role of forensic accounting in the calculation of commercial and economic damages, and the compiling of business valuation reports.
  • Explore the role and character of forensic accounting and its relationship to the legal system including the legal, ethical and professional obligations of forensic accountants.

Final Exam

Assessment Type 1: Examination
Indicative Time on Task 2: 20 hours
Due: Semester 1 Examination Period
Weighting: 30%

 

A two-hour online examination (open book) will be held during the University Examination period.

 


On successful completion you will be able to:
  • Appraise the nature of, and concepts relevant to, civil, criminal and administrative procedure and articulate the role of forensic accounting in the calculation of commercial and economic damages, and the compiling of business valuation reports.
  • Explore the role and character of forensic accounting and its relationship to the legal system including the legal, ethical and professional obligations of forensic accountants.
  • Examine and investigate indicators of fraudulent activity and demonstrate knowledge of investigative processes and techniques, and their application.
  • Analyse techniques in evidence collection and evaluation and develop the ability to present the results of an investigation in a legal context.
  • Review and evaluate the role of governance structures, internal controls and compliance policies for the prevention of financial fraud.

Assignment

Assessment Type 1: Report
Indicative Time on Task 2: 35 hours
Due: 29/05/2021
Weighting: 40%

 

This assessment will require students to investigate and analyse an aspect of the unit and identify and communicate findings, exercise judgement and develop research capability. This is a group assignment and involves both a written submission not exceeding 2000 words and a group presentation.

 


On successful completion you will be able to:
  • Examine and investigate indicators of fraudulent activity and demonstrate knowledge of investigative processes and techniques, and their application.
  • Analyse techniques in evidence collection and evaluation and develop the ability to present the results of an investigation in a legal context.
  • Review and evaluate the role of governance structures, internal controls and compliance policies for the prevention of financial fraud.

1 If you need help with your assignment, please contact:

  • the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
  • the Learning Skills Unit for academic skills support.

2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation

Delivery and Resources

Rufus R J, Miller L S, and Hahn W - Forensic Accounting - Global Edition, 2015, Pearson.

Other resources:

Crain, M., Hopwood, W., Pacini, C., Young G. 2015. Essentials of forensic accounting. Wiley

ACIC, Serious Crime in Australia, December 2017, https://www.acic.gov.au/publications/ intelligence-products/serious-financial-crime-australia-2017

Unit Schedule

Topics / Classes

Readings

Topic 1

CLASS 1

The field and practice of forensic accounting

• Introduction

• The legal, regulatory, professional environment, and ethics

• Professional roles of fraud and forensic accounting professionals

Rufus 1, 2

 

Topic 2

CLASS 1

Fraud-related services

• Types of fraud

• Fraud detection, prevention, deterrence, investigation,   remediation

• Fraudulent financial reporting

Rufus 6, 7

Topic 3

CLASS 2

Fraud-related services

• Misappropriation of assets

Rufus 6, 7

Topic 4

CLASS 2

Engagement management

• Planning and managing an investigation

• Case management and communication

• Reporting and closure

Crain 7

Rufus 3

Topic 5

CLASS 3

Evidence collection

• Types of evidence

• Documents

• Interviewing

• Evidence management

 

Rufus 4

Topic 6

CLASS 3

Transforming Data into Evidence - Data Analysis

• Financial transactions / Islamic finance 

• The role of data analysis

• Data sources

• Data analysis tools

Rufus 8

Topic 7

CLASS 4

Financial analysis

• Context of financial reporting

• Foundations of financial analysis

• Methods of financial analysis

Rufus 5

Topic 8

CLASS 4

Transforming Data into Evidence - Data and Digital Analysis

• Descriptive statistics

• Methods for displaying data

• Money laundering

Rufus 8, 9

Topic 9

CLASS 5

Evidence analysis

• Corporate intelligence  

• Big data

• Digital forensics for accountants

Rufus 4, 5

Crain 11

Topic 10

CLASS 5

Commercial and economic damages

• Damages litigation

• Damages calculation

 

 

 

Topic 11

CLASS 5

Business valuation

• Valuation fundamentals

• Financial analysis

• Business valuation reports

Rufus 11

Topic 12

CLASS 6

Accountant as an expert witness 

• Legal frameworks

• Litigation support from accountants

• Forensic accountants and the court

Rufus 10

Topic 13

CLASS 6

Special topics:

• Cyber crime

• Crypto currencies

 

Rufus 12

Review

CLASS 7

Review of all topics covered in ACCG 8047

 

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct

Results

Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Learning Skills

Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to help you improve your marks and take control of your study.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Enquiry Service

For all student enquiries, visit Student Connect at ask.mq.edu.au

If you are a Global MBA student contact globalmba.support@mq.edu.au

Equity Support

Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.

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