The syllabus content contains the following topics:
- What is fraud and fraudulent financial reporting?
a) Movie “All the Queen’s Horses”
b) Definition of fraud and financial statement fraud
c) The Fraud Triangle - The role of financial reports
a) Information contained in financial statements
b) The process of financial reporting
c) The importance of financial information - Realization of financial statement fraud: Traditional recipes for “Cooking the Books”
a) Revenue-based schemes
b) Asset-based schemes
c) Expense and liability schemes
d) Fraud realization in EU funds - Detection of financial statement fraud: The role of the auditor
a) The responsibilities of the statutory auditor
b) Standards of auditing
c) Fraud detection audit procedures (case example: EU funds)
d) Materiality
e) The auditor’s report and independence
f) Risk-management techniques in auditing - Consequences of financial statement fraud
a) Costs of financial statement fraud at the individual levelb) Costs of financial statement fraud at the market level
c) Regulations implemented to increase the quality of audited financial statements - Case studies
- Individual projects discussion