Telestrat is a worldwide leader in continuing legal education (CLE) courses. Our Telestrat MBA Seminar Series has brought the world of finance, accounting, and business strategy to lawyers in the U.S., Europe, and Asia.

 

Detecting Accounting Fraud for Lawyers

Understanding financial statements and their relevance to various types of business and legal work is becoming increasingly important in the aftermath of the multitude of recent accounting scandals. Attorneys can no longer rely on the opinions of finance and accounting professionals and therefore must have a basic understanding of accounting as well as the ability to detect fraud. This course is designed to give attorneys a one day overview of accounting techniques, their relevance, and problems associated with each.

Schedule

1. The Nature of Fraud - 60 Min.

  • Recognizing the Symptoms of Fraud
  • Approaches to Detecting Fraud

2. Inadequate Disclosures - 120 Min.

  • Balance Sheet
  • Income Statement
  • Cash Flow Statement
  • Footnotes
  • MD&A Report

3. Lunch (on your own) - 60 Min.

4. Financial Statement Fraud - 120 Min.

  • Revenue Recognition
  • Percentage of Compliance
  • Inventory Valuation
  • Fictitious Sales
  • Deferred Expenses
  • Unrecorded Liabilities
  • Mark-to-Market Accounting
  • Off-Balance Sheet Structures

5. Preventing Fraud - 30 Min.

  • Sarbanes-Oxley
  • Internal Controls

6. Case Study - 30 Min.

  • Enron
  • WorldCom

7. Ethical Violations Versus Fraud - 60 Min.

  • Ethical Responsibility of Managers
  • Ethical Responsibility of Auditors
  • Legal Follow-Up on Fraud