Topics in Accounting: (390-DL-21)
Topic
Forensic Accounting
Instructors
Jeannie Marie Folk
Jeannie has a Bachelor’s degree in Accountancy from Loyola University Chicago and a Master’s degree in Accountancy from Northern Illinois University. As a CPA (Registered), she rose to the rank of Audit Manager at Coopers & Lybrand (now PricewaterhouseCoopers) and then joined the accounting faculty at the College of DuPage as a full-time professor. She also taught thousands of CPA Exam candidates in NIU’s CPA Review Program. Jeannie is a past member of the Illinois Board of Examiners and is a member of the CPA Exam Transition Task Force at the Illinois CPA Society. She serves as the Accounting Program Adviser at Northwestern School of Professional Studies. Jeannie co-authored Introduction to Managerial Accounting (2001) by McGraw-Hill and has written over 50 study guides and instructor's manuals to accompany accounting textbooks. She is currently developing digital content to enable accounting students to learn more effectively using online, interactive platforms.
Meeting Info
Online: TBA
Overview of class
This course is designed for students who wish to explore the forensic accounting profession. Since most students have been or will be affected by fraud on a personal and/or professional level, this course is also designed for students who simply wish to know more about forensic accounting so that they are in a much better position to recognize fraud and know how to respond. Students completing this course will have a basic understanding of forensic accounting opportunities and career possibilities in this field. Students will apply accounting, research, and investigative skills and become knowledgeable about areas of the law relating to fraud examination and litigation services. These skills, when combined with this knowledge, will enable students to collect, analyze, and evaluate evidential matter and to interpret and communicate their findings.
This course is conducted completely online. A technology fee will be added to tuition.
Registration Requirements
The prerequisite for this course is ACCOUNT 201 Introduction to Financial Accounting or an equivalent taken at another institution. You may wish to review the ACCOUNT 201 course description prior to beginning this class. (Further, it is strongly recommended that you earned a grade of "C" or above in that Financial Accounting course.)
This course is a required component of two different certificate programs: the CPA Preparation Certificate Program and the Advanced Accounting Certificate Program.
Students who have already completed significant coursework in accounting may also take this course to complete requirements for the Illinois CPA examination or CPA Exams in other states.
Learning Objectives
By the end of this course, students will be able to:
1. Explore the forensic accounting profession and career opportunities in this field.
2. Identify the professional ethics and responsibilities that apply to forensic accountants.
3. Recall the civil and criminal procedures relating to fraud-investigations.
4. Analyze and evaluate evidential matter relating to fraud.
5. Describe the discovery process in civil litigation.
6. Describe the various litigation services provided by forensic accountants.
7. Explain how to structure and manage fraud investigations.
8. Describe how to prevent, detect, and respond to fraud.
9. Identify the major types of fraud schemes, including those related to bankruptcy, and explain the components of each.
10. Interpret and communicate findings resulting from the investigation of fraud.
Teaching Method
Readings
Guest speaker recordings
Online discussion boards
Online accountability quizzes
Individual and team case studies (including writing assignments)
Evaluation Method
Accountability quizzes
Discussion boards
Individual case study projects
Team case study projects
Comprehensive team case study project
Class Materials (Required)
Crain, M. A., Hopwood, W. S., Gendler, R. S., Young, G. R., Pacini, C., & American Institute of Certified Public Accountants. (2019). Essentials of forensic accounting (2nd ed.). Hoboken, NJ: Wiley. ISBN: 9-781948-306447 (This textbox is available via Northwestern University Abbott Hall bookstore website. Note that supply may be limited. As such, you are encouraged to preorder/order a copy as soon as possible. Start the process by going to the bookstore website, clicking on "Textbooks," and entering the course information.)
Assigned readings, including timely articles, blog posts, and/or videos that you will read and/or view in order to participate in discussions (available in Canvas).
Required Student Membership
The American Institute of Certified Public Accountants (AICPA) is offering free access to the Forensic and Valuation Services (FVS) Section. The FVS Section provides practice aids, white papers, and other professional resources for accountants who practice forensic accounting and business valuation. These resources may be accessed by students for use in the classroom or as preparation for the Certified in Financial Forensics (CFF) exam. Login information will be provided in the course materials.
Class Notes
The AICPA is also offering Northwestern University students the opportunity to sit for the Certified in Financial Forensics (CFF) Exam upon completion of this course, free of charge (normally $440 registration). If a student passes the CFF exam, the student will be able to apply for the CFF credential when the student obtains a CPA license and otherwise completes the education and experience requirements. Some of these requirements overlap with the requirements of the CPA license, so the student may be able to apply for both simultaneously. The AICPA encourages students who pass the CFF Exam to include "CFF Candidate" on their resume or CV. To be eligible to sit for the free CFF exam, all students must be active members of the AICPA. The AICPA provides a free student membership at https://www.thiswaytocpa.com/join-aicpa/.
Class Attributes
Asynchronous:Remote class-no scheduled mtg time