Presentation Date: Sunday August 2, 2009
  Presentation Time: 8:00 am-11:00 am

CPE Session 25

Fraud: A Global Perspective

Presented By:

Patricia Johnson, Canisius College

Description: Misrepresentation of financial statement information is not unique to US companies. This session examines fraud from a global perspective.

The objectives of this session are to: 1. Provide the participant with specific cases of fraud in the international arena 2. Relate/classify the cases by relevant accounting topic 3. Provide information on the use/abuse of IFRS and the implications 4. Compare and contrast US GAAP and IFRS related to the accounting issues underlying the fraud.

Information about the details of several international accounting frauds will be provided, linking them to specific areas of accounting and IFRS standards. Differences in US GAAP versus IFRS will be highlighted as applicable. Effects of the scandals on subsequent legislation and practice will be discussed. Ethical issues surrounding the frauds will also be examined.

Field of Study: Accounting
Program Level: Basic

Intended Audience: Academics interested in incorporating IFRS into their financial accounting courses; academics and practitioners interested in getting a global perspective on fraud

Format/Structure: The format of the workshop will consist of the presentation and discussion of international fraud cases.

Learning Objective: 1. Understand the global nature of fraud. 2. Provide specific examples of fraudulent financial statements issued at the international level 3. Discuss the implications of the abuse of IFRS on financial reporting 4. Identify differences between US GAAP and IFRS as they relate to specific examples of financial statement fraud

Prerequisites: None

Advanced Preparation Required: None

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