The Erasmus+ Programme (ERASMUS) Project: 101048262 – EUFACT Implementation of Financial Fraudulent Reporting Course in EU Universities aims to build a specialized perspective of students of the University of Konstanz and the “Alexandru Ioan Cuza University” of Iasi on the prevention and detection of fraudulent financial reporting. Recent media coverage and research in this area show that accounting scandals continue to be an increasingly serious issue, even though measures have been implemented that are designed to detect fraudulent financial reporting. Cases like Wirecard in Germany, Steinhoff in South Africa, or Carillion in the United Kingdom document that financial statement fraud is still committed, and, more importantly, that it can remain undetected, often four years. The question therefore arises as to which schemes the preparers of financial statements actually use to misreport, and why the implemented safeguards fail to detect this practice. Thus, the proposed course aims to increase students’ understanding of financial statement fraud, including its deterrence, prevention, and detection.

The project provides the opportunity to extend the curricula and to offer a course in response of the graduate students’ demand to gain specialized information on EU financial and tax law during the 2nd cycle. The “Alexandru Ioan Cuza University” of Iasi covers the following areas of European Studies in teaching and research: History, Economic Studies, Political and Administrative Studies, Legal Studies, International Relations, Culture / Literature. In these fields of studies, there are 85 courses.

At the “Alexandru Ioan Cuza University”, the course will address postgraduate students in economics, public administration, and legal science (first semester of each academic year) and, in the second semester, students that do not have financial expertise and/or a legal background. Especially economics students will benefit from the course, as future business relations will require such advanced knowledge. The level of discussion will be adapted to students’ level of knowledge in the field of study, so the courses are both accessible and attractive. The courses are new to the curricula of the “Alexandru Ioan Cuza University” and thus are innovative. An ongoing dialogue between those who are interested in the teaching topics will ensure the dissemination of the results during the project activities. The teaching platforms of both universities (ILIAS at the University of Konstanz and the Teams/e-learning on-line platform on the University Alexandru Ioan Cuza of Iasi) facilitate the dialogue and presents the course materials. The actual web page (www.eufact.feaa.uaic.ro) provides information about the EUFACT Jean Monnet teaching module, the topic of the courses offered, the programs and deadlines, the target group, the teachers of the module, the conditions for accessing the course, the evaluation procedures, etc. The web page will provide information on the events that are open to the public (workshops, seminars, and lectures). During the project, the professors of the module will participate in workshops, opened lectures, and international seminars/conferences that will insure the dissemination of the research results.