Students

ACCG8047 – Fundamentals of Forensic Accounting

2023 – Session 2, In person-scheduled-weekday, North Ryde

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff
Stefan Williams
stefan.williams@mq.edu.au
Rebecca Bachmann
rebecca.bachmann@mq.edu.au
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:

  • 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.
  • 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.
  • 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.

General Assessment Information

Late Assessment Submission Penalty (written assessments)  

  

Unless a Special Consideration request has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted. Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern.   

  

For any late submissions of time-sensitive tasks, such as scheduled tests/exams, performance assessments/presentations, and/or scheduled practical assessments/labs, students need to submit an application for Special Consideration. 

Assessment Tasks

Name Weighting Hurdle Due
Assignment 40% No Week 12
Class Test 10% No Week 6
Final Examination 30% No University examination period
Participation 20% No Throughout semester

Assignment

Assessment Type 1: Report
Indicative Time on Task 2: 35 hours
Due: Week 12
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.

Class Test

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 10 hours
Due: Week 6
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:
  • 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.
  • 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.

Final Examination

Assessment Type 1: Examination
Indicative Time on Task 2: 20 hours
Due: University examination period
Weighting: 30%

 

A two-hour examination will be held during the University Examination period.

 
On successful completion you will be able to:
  • 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.
  • 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.
  • 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.

Participation

Assessment Type 1: Participatory task
Indicative Time on Task 2: 20 hours
Due: Throughout 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:
  • 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.
  • 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.
  • 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 Writing Centre 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

Please refer to the iLearn page for ACCG 8047.

Unit Schedule

Unit Schedule

 

Topics

Readings

Week 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

 

Week 2

Fraud-related services

• Types of fraud

• Fraud detection, prevention, deterrence, investigation,   remediation

• Fraudulent financial reporting

Rufus 6, 7

Week 3

Fraud-related services

• Misappropriation of assets

Rufus 6, 7

Week 4

Engagement management

• Planning and managing an investigation

• Case management and communication

• Reporting and closure

Crain 7

Rufus 3

Week 5

Evidence collection

• Types of evidence

• Documents

• Interviewing

• Evidence management

 

Rufus 4

Week 6

Transforming Data into Evidence - Data Analysis

• Financial transactions / Islamic finance 

• The role of data analysis

• Data sources

• Data analysis tools

Rufus 8

Week 7

Financial analysis

• Context of financial reporting

• Foundations of financial analysis

• Methods of financial analysis

Rufus 5

Week 8

Transforming Data into Evidence - Data and Digital Analysis

• Descriptive statistics

• Methods for displaying data

• Money laundering

Rufus 8, 9

Week 9

Evidence analysis

• Corporate intelligence  

• Big data

• Digital forensics for accountants

Rufus 4, 5

Crain 11

Week 10

Commercial and economic damages

• Damages litigation

• Damages calculation

 

 

 

Week 11

Business valuation

• Valuation fundamentals

• Financial analysis

• Business valuation reports

Rufus 11

Week 12

Accountant as an expert witness 

• Legal frameworks

• Litigation support from accountants

• Forensic accountants and the court

Rufus 10

Week 13

Special topics:

• Cybercrime

• Cryptocurrencies

 

Rufus 12

 

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

Academic Integrity

At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.

Student Support

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

The Writing Centre

The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.

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

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Student Enquiries

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IT Help

For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/. 

When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.

Unit information based on version 2023.03 of the Handbook