Crossing the Line: Financial Statement Fraud and Auditor Deception Cases ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
This CPA fraud CPE course is based on two recent financial statement fraud cases; Dewey and LeBouef and ContinuityX. Dewey and LeBouef was a high-profile law firm that, at its peak, had over 3,000 employees and over 1,400 lawyers. It is alleged that personnel at Dewey and LeBouef made inappropriate financial adjustments starting in 2008 to meet its bank lending covenants and planned to conceal these adjustments from its “clueless auditor”. Dewey and LeBouef declared bankruptcy in 2012. ContinuityX was an internet services reseller that, according to an SEC complaint, fabricated 99% of its revenue. It was audited by a firm that was fined and disciplined by the SEC and the partner responsible for the audit was also fined and permanently suspended from practicing before the SEC. ContinuityX declared bankruptcy in 2013. Both cases involve financial statement fraud, auditor deception and some lessons to be learned.
Highlights
Dewy and LeBouef. ContinuityX. Financial statement fraud. Auditor deception cases.
Prerequisites
None.
Designed For
CPAs, controllers, accountants, financing professionals, business owners, managers and others responsible for prevention, detection, or evaluation of potential fraud.
Objectives
Recognize the primary elements of financial statement fraud in the Dewy and LeBouef and ContinuityX cases. Associate the primary elements of financial statement fraud in the cases in this course with audit procedures that may have detected the fraud.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Joseph Helstrom, Western CPE
Joseph Helstrom, CPA, is a partner at CFO Resources, LLC, a company focused on training and courseware for CPAs. He’s also the owner of Mill Creek Publishing LLC. Joe has over 30 years of experience as a CPA in both public accounting and industry, with extensive experience in financial reporting and analysis, treasury, tax, information technology, legal and regulatory matters, and strategic planning.
After graduation from Butler University with a degree in accounting, Joe got his start at Ernst & Young. Subsequent to that, he has served for several different companies as a chief financial officer; director of treasury and tax; controller; and manager of financial planning, reporting, and analysis.
Joe and his wife, Patricia McCarthy, produce self-study courses for Western CPE and have published articles in Missouri and Texas CPA society publications titled “Incorporating Excel Arrays into Your Audit Plan.”
Non-Member Price $67.00
Member Price $58.00