THE CATHOLIC UNIVERSITY OF MALAWI
Course Outline
ACFA 3118: Forensic Accounting
1. Programme : Bachelor of Commerce in Accountancy.
2. Presented To : Senate
3. Presented By : Faculty of Commerce
4. Subject : Accounting
5. Year / Level of Study : Year Three Semester One
6. Module Title : Forensic Accounting
7. Course Code : ACFA 3118
8. Duration : 18 Weeks
9. Lecture Hours/ Per Week : 2
10. Tutorial Hours / Per Week : 1
11. Practical Hours/ Per Week : N/A
12. Student Independent Learning Hours / Week :4
13. Total Module Credits :3
14. Pre requisites : ACFA Financial Accounting IV
15. Core Requisite : ACFR 3314 Financial Reporting I
16. Delivery Mode :
16.1 Mode of Delivery Face to Face and Online
16.2 Teaching Methods : Lectures, Tutorial, Presentations and Quizzes
16.3 Assessment Weighting: 40% Continuous Assessment and 60% Final
Examination
17. Aim(s) of Course
The course aims at enabling students to collect, analyse, evaluate and draw conclusions
and lay the results to bare in a manner that meets standards required by the court or law
for disputes and other settlements.
18. Learning Outcomes
By the end of the course, students should be able to:
a) Identify the general regulatory framework within which forensic accounting
is carried out.
b) Scribe and assess various damages and other other financial assessments
c) Assess the sources and magnitude of various kinds of fraud and related
issues
d) Assessment and evaluation of the net worth of individuals deemed insolvent
for use by relevant parties.
e) Apply the use of forensic analytics in discovery and analysis of various
matters such as fraud and other irregularities.
f) Apply computer packages in forensic
19. Topic of Study
(a) Scope and Regulatory Framework
i. The nature and scope of forensic accounting
ii. Regulatory framework of the forensic accounting practice.
(b)Damages claims and other financial assessments
i. Compensatory damages assessments
ii. Punitive damages assessments
iii. Estoppels assessments
iv. Other assessments;
• Default on debt
• Corporate valuations disputes
• Divorce proceedings
(c) Fraud and other Related Assessments
i. Assets misappropriation fraud
• Assets theft
• Misuse of assets
ii. Fraudulent financial and other reporting
iii. Corruption practices
iv. Securities fraud
v. Taxation fraud
vi. Money laundering
(d) Insurance Claims
i. Loss of assets policy
• Loss of non-current assets
• Loss of cash and cash equivalents
• Loss of other assets
ii. Loss of profit policy
iii. Underwriting of securities
• Conditional underwriting
• Firm underwriting
(e ) Insolvency and Bankruptcy
i. Scope of insolvency and bankruptcy
ii. Insolvency accounts
• The statement of affairs
• The deficiency account
iii. Insolvency of partnerships
(f) Computer Forensics (forensic analytics)
i. The scope of forensic analytics
ii. Software applications in forensic accounting
• Use of Microsoft excel
• Use of Microsoft Access and other packages
• Use of CAATS
iii. The Benford’s law test; conformity and simulation tests.
20. Prescribed Texts
Clayton, M. M., Skalak, S. L., Golden, T. W. &Pill, J. S. (2011), A guide to Forensic
Accounting Investigation (2nd Ed), J Wiley Sons Publishing, New Jersey.
Nigrini, M. J. (2011), Forensic Analytics; Methods and Techniques for Forensic
Accounting Investigations, J Wiley Sons Publishing, New Jersey.
Wagner, M. J. & Frank, P. B. (2010), Litigation Services Handbook; The Role of
Financial Experts (4th Ed), J Wiley Sons Publishing, New Jersey.
Wells, J. (2013), Corporate Fraud Handbook; Prevention and Detection (5th Ed), J
Wiley Sons Publishing, New Jersey.
Shield, G. (2012), What the Best Forensic Accountants Know- That you Don’t,
www.amazon.com
Madinger, J. (2012), Money Laundering; Guide for Criminal Investigations (3 rd ed),
CRC Press, New York
Buckoff, T. A. & Pangano, W. J. (2005), Expert Witnessing in Forensic Accounting (3rd
ed) RT Edwards, Philadephia PA, USA
Zack, G. M. (2013), Financial Statements Fraud; Strategies for Detection and
Investigation, J Wiley Sons Publishing, New Jersey.
21. Recommended Texts / Reading
Christopher, E., Peter, D. (2013), Cases in Forensic Accounting and Auditing, (2ndEd),
e-books
Bologne, J. (2010), Fraud Auditing and Forensic Accounting (4th ed), J Wiley Sons
Publishing, New Jersey.
Shrabman, K. S. & Sampath, V. S. (2014), Forensic Accounting Dummies, McGraw
Hill Wiley Publishing, India
Pedneault, S. (2010), The Anatomy of Fraud Investigation; From Detection to
Prosecution, J Wiley Sons Publishing, New Jersey.
Nigrini, M. J. (2012), The Benford’s Law;, Application for Forensic Accounting,
Auditing and Fraud Detection. J Wiley Sons Publishing, New Jersey.
Josh, A.(2017), Students’ Handbook on Forensic Accounting (3rd ed) e-books
