Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
Corruption, money laundering and financial statement fraud continue to be relevant concerns for professional accountants. This course will provide an introduction to three types of fraud. Canada is not immune to corruption, and many accountants work in international contexts where corruption may be prevalent. Canada has been viewed as a significant concern for money laundering, with national estimates in the $10’s of billions of dollars annually. Financial statement fraud is one of the most relevant types of fraud for the professional accountant and has high financial impact despite much financial statement fraud going undetected. These three types of fraud will be considered from the perspectives of their historical development, relevant legislation, and ethical questions. The course does not focus on domestic legal compliance.
Topics Include:
In this course, you will gain knowledge about the following topics:
Introduction
- The fraud landscape
- Schools of ethics
Corruption
- A brief history of corruption
- The Foreign Corrupt Practices Act
- The ethics of corruption
- Exercise: Fines vs Prosecution
Money Laundering
- A brief history of money laundering
- The money laundering process
- Special Topics (e.g. Snow washing, The Vancouver Method)
- Anti-money laundering programs and the PCMLTFA
- Terrorist financing
- The ethics of money laundering
- Case: 1MDB
Financial Statement Fraud
- A brief history of financial statement fraud and auditing
- The Sarbanes Oxley Act and C-SOX
- Why and how financial statement fraud occurs
- Case: “It’s Immaterial” & WorldCom
Key Takeaways
By the end of this course, you should be able to:
- Describe the development of ethical concerns relating to corruption, money laundering and financial statement fraud.
- Describe some of the key legislation and regulatory compliance requirements in the areas of corruption, money laundering and financial statement fraud.
- Reflect on some of the ethical challenges professional accountants face when addressing corruption, money laundering and financial statement fraud.
Who Will Benefit
All CPAs with exposure or interest to these types of fraud.
Disclaimer
The views expressed in the course are non-authoritative and have not been formally endorsed by CPA Ontario and do not reflect the views of CPA Ontario. The information included in the course if for general information purposes only.
CPA Ontario, the presenters and the authors do not accept any responsibility or liability that might occur directly or indirectly as a consequence of the use or application of or reliance on this material.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
If available, course materials can be accessed 2 business days prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Ken Lewchuk is a Chartered Professional Accountant (British Columbia) and a Certified Public Accountant (Texas). He graduated with a MBA from the Edinburgh Business School and with an MA in Applied and Professional Ethics from the University of Leeds (Distinction). His career has spanned public accounting (PwC), technical accounting, corporate finance and internal audit for corporations in United States and Canada. He has taught technical accounting and finance classes to corporate employees in several countries, been a conference speaker, and a guest lecturer at Texas A&M University on the topic of business ethics.