CPE Session 9: Saturday, August 4, 1:00 PM – 4:00 PM

Best Practices in Identifying and Preventing Fiduciary Accounting Fraud

(Accounting)

Description/Objectives:
Learning Objectives:

• Increase awareness of indicators of potential breach of fiduciary duty or fraudulent reporting reflected in fiduciary accountings (particularly compilations).
• Explore best practices for ameliorating accountants potential to improve transparency and cost effectiveness of fiduciary accountings.
• Envision a public service role possible for accountants to contribute in fiduciary accounting activities for courts and third parties.
• Content is based upon bar complaints and subsequent court cases particularly those of disbarred attorneys.

After reviewing numerous egregious cases of fiduciary breach of duty and/or fraudulent reporting, fundamentals of Fiduciary Accounting Ethics will be presented through the lens of leading business ethic academicians in finance (Boatright 1999), accounting (Duska and Duska 2003), and information systems (Degeorge 2003).

Small groups will analyze and discuss ethical dilemmas in fiduciary accounting cases and propose best practices for educating Courts and third parties about precise needs for transparency in fiduciary accountings.

Brainstorming will encourage development of ongoing collaborative efforts among participants.

Presenter:
B. Elisabeth Rossen, Florida Atlantic University

Note: CPE fields of study are in parentheses