Crossing the Line – Cases in Financial Statement Fraud and Auditor Deception
This course is based on two recent financial statement fraud cases; Dewey & LeBouef and ContinuityX. Dewey & 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 & 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 & 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.

Course Publication Date: March 30, 2020

This course is available with NO ADDITIONAL FEE if you have an active self study membership or can be purchased for $10.00!

Author:Mill Creek Publishing
Course No:AUD-CRSLINE-2900
Recommended CPE:1.00
Delivery Method:QAS Self Study
Level of Knowledge:Overview
Prerequisites:None
Advanced Preparation:None
Recommended Field of Study:Auditing
  
Add To Your Cart

Ready to take a course?

  • Includes all self study courses
  • Earn as many CPE credit as you need
  • 100% Guaranteed
Buy Self Study Membership

Learning Objectives
  • Recognize the primary elements of financial statement fraud in the Dewy & 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.

CPE Depot Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Sponsor Number: 109423

 (556ms)
CPE-WEB02 3.228.11.9 url(WWW.CPEDEPOT.COM)-domain(WWW.CPEDEPOT.COM)-anon

Search Courses

Group Plan

Group plans are convenient and cost effective!

Authors Wanted

We are looking for authors!