Department of Business Administration
Dean:Dr. Friðrik Már Baldursson
Email:vd@ru.is
Website:http://www.ru.is/vd
TeachersView
MSc in Marketing - 120 ECTS
Semesters:4
Years:2
ETCS:120
Learning OutcomesView
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Mandatory course on majorTeaching language
Optional course on majorPrerequisites for course
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Vorönn/Spring 2020
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Sumarönn/Summer 2020
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More infoAccounting Fraud and ForensicsElectiveV-722-AFORECTS 7,5
Year
1. yearPrint
SemesterSummer 2020
Level of courseN/A
Type of courseElective
PrerequisitesNo prerequisites.
ScheduleNo schedule found.
Lecturer
Richard Benbow Dull
Content
The purpose of the course is to provide students with a solid knowledge and understanding of fraud, potential perpetrators, and its impact on an organization and to develop the students’ skills and competences to detect and prevent fraud.

Losses due to fraud have been estimated as high as five percent of an organization’s revenues. It is important to do everything possible to reduce that amount. Fraud is not limited to a specific type or size organization, but can potentially impact any organization. The course will include a basic understanding of the Fraud Triangle and who commits fraud, and how to target resources on how to prevent fraud, e.g. through a strong system of internal controls, and when it is not possible to prevent, how to discover fraud based on strong data monitoring and analysis processes and techniques using detailed transaction data in modern information systems to support basic and complex data analysis. The course discusses data driven fraud detection, including topics such as continuous monitoring, structured vs. unstructured data and visualizations. Tools such as IDEA and ACL are designed to help accountants document and analyze information provided by an organization’s information systems. These packages have been used by auditors, and are also important tools for forensic accountants’ information analysis. The course also covers the different types of fraud against, and on behalf of an organization. This distinction is important because an accountant looking for revenue fraud needs a different perspective and techniques than the same individual looking for asset misappropriation fraud. The course will be a combination of theory and application of theory to specific cases and circumstances. The course will include risk perspectives on organization types, sizes, and management. The context of problems will vary among different types of fraud and investigation tools and techniques.
Learning outcome - Objectives
At the end of the course students should:
- Know who commits fraud and why.
- Describe several types of fraud and the potential impact on an organization.
- Describe the basic components of the fraud triangle.
- Know the importance of finding fraud at the earliest possible time to prevent/minimize losses.
- Know the basic steps in a data analysis process in the context of data driven fraud detection with regard to continuous monitoring, structured vs. unstructured data and visualizations.
At the end of the course students should be able to:
- Identify resources relevant to the performance of forensic engagements.
- Apply the fraud triangle to specific cases.
- Identify controls that may be applied to prevent specific types of fraud.
- Use software to import and understand data relationships.
- Analyze case data to identify anomalies.
At the end of the course students should be able to:
- Detect anomalies that potentially indicate fraud.
- Develop and implement preventive strategies against fraud.
- Develop and implement policies/controls that address different types of fraud.
Course assessment

Reading material
No reading material found.
Teaching and learning activities

Language of instructionEnglish
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