Forensics

Master 2023/2024

Type: Elective course (Strategic Corporate Finance)

Area of studies: Finance and Credit

Delivered by: School of Finance

Where: Faculty of Economic Sciences

When: 2 year, 2 module

Mode of studies: offline

Open to: students of one campus

Instructors: Diana Darbeka, Alexandra Egorova

Master’s programme: Strategic Corporate Finance

Language: English

ECTS credits: 3

Contact hours: 28

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Abstract

According to the 2020 Global Economic Crime Survey, 47% of companies experienced a fraud in the past 24 months and on average, companies reportedly experienced 6 incidents in the last 24 months. The most common types of fraud include customer fraud, cybercrime, asset misappropriation, bribery and corruption and financial statements fraud. Forensic services help companies discover illicit acts on time, carry out forensic investigations and mitigate risks. Aim of the course is to familiarize students with the theory and practice behind the forensics expertise. During the course we will discuss regulatory frameworks, approaches to and considerations of investigations of crimes committed, apply effective tools for identifying risks and developing and implementing fraud prevention systems. In addition, students will familiarize themselves with the related forensics matters such as corporate intelligence, forensic technology, dispute and litigation support, financial crime, whistleblowing systems, anti-money laundering, sanction and other compliance matters.

Learning Objectives

Foundational Knowledge: Equip students with a comprehensive understanding of the principles, methodologies, and techniques used in modern forensic science
Critical Thinking: Cultivate students' abilities to critically evaluate evidence, draw logical conclusions, and approach forensic investigations with a systematic and analytical mindset.
Practical Application: Provide hands-on experiences, laboratory sessions, and simulated crime scenes to allow students to apply theoretical knowledge in real-world scenarios.
Research Competency: Encourage students to engage in research, staying updated with the latest advancements and innovations in the field of forensic science.

Expected Learning Outcomes

Know the basics of Fraud and fraudsters
Understanding of the principles and importance of independence, objectivity, and skepticism in auditing.
Comprehensive understanding of internal audit processes and the significance of the three lines of defense.
Ability to evaluate financial controls and detect potential financial statement frauds.
In-depth knowledge of revenue recognition detection techniques and potential issues associated with it.
Proficiency in identifying and addressing revenue and receivables misappropriation
Ability to use financial ratios as measures of risk or indications of fraud, with insights from the Beneish research.
Ability to recognize the typical characteristics of anonymous tips and their implications.

Course Contents

Introduction. Fraud and fraudsters.
Audit and investigation of fraud
Internal Audit and Fraud Related to Revenue
Assets misappropriation
Financial ratio analysis. When and why to call forensic accountants
Fraud investigation strategy and reporting

Assessment Elements

Final project
Seminar home assignment
Seminar discussion

Interim Assessment

2023/2024 2nd module
0.5 * Final project + 0.1 * Seminar discussion + 0.4 * Seminar home assignment

Bibliography

Recommended Core Bibliography

A guide to forensic accounting investigation, Golden, T., 2006
Crime scene to court : the essentials of forensic science, , 2005
Current perspectives in forensic psychology and criminal behavior, Bartol, C. R., 2008
Digital forensics in the era of artificial intelligence, Moustafa, N., 2023
Encyclopedia of forensic science : a compendium of detective fact and fiction, Conklin, B. G., 2002
Financial investigations. A forensic accounting approach to detecting and resolving crimes, , 2002
Financial investigations. A forensic accounting approach to detecting and resolving crimes. Vol.1: Student textbook, ,
Financial investigations. A forensic accounting approach to detecting and resolving crimes. Vol.2: Student workbook, ,
Forensic accounting and fraud examination, Kranacher, M.-J., 2020
Forensic accounting, Zimbelman, M. F., 2012
Gudjonsson, G. H., & Haward, L. R. C. (2016). Forensic Psychology : A Guide to Practice. Abingdon, Oxon: Routledge. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1165368
Priddis, C., & Vandenberg, N. (2018). Australasian forensic science summit 2016: education and training towards 2030. Australian Journal of Forensic Sciences, 50(3), 293–304. https://doi.org/10.1080/00450618.2017.1383571
Sammons, J. (2014). The Basics of Digital Forensics : The Primer for Getting Started in Digital Forensics (Vol. Second edition). Amsterdam: Syngress. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=924929
Trials of a forensic psychologist : a casebook, Ewing, C. P., 2008
Колдин, В. Я., Forensic Identification : монография / В. Я. Колдин. — Москва : Русайнс, 2019. — 454 с. — ISBN 978-5-4365-3442-8. — URL: https://book.ru/book/934438 (дата обращения: 26.08.2024). — Текст : электронный.

Recommended Additional Bibliography

Altheide, C., & Carvey, H. A. (2011). Digital Forensics with Open Source Tools. Burlington, MA: Syngress. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=363702
Myagkov, M. G., Shakin, D., & Ordeshook, P. C. (2009). The Forensics of Election Fraud : Russia and Ukraine. Cambridge: Cambridge University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=304732
Nuzzolese, E., Lupariello, F., & Di Vella, G. (2018). Selfie identification app as a forensic tool for missing and unidentified persons. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.C20865F9
State crimes against democracy : political forensics in public affairs, , 2013
The Forensic Psychologist's Casebook, Psychological profiling and criminal investigation, edited by Laurence Alison, XXVII, 410 p., , 2006
The forensics of election fraud : Russia and Ukraine, Myagkov, M., 2009
The new forensics : investigating corporate fraud and the theft of intellectual property, Anastasi, J., 2003
Thomas W. Golden, Steven L. Skalak, Mona M. Clayton, & Jessica S. Pill. (2006). A Guide to Forensic Accounting Investigation. Wiley.

Authors

EGOROVA ALEXANDRA ALEKSEEVNA

Course Syllabus