MA617 - Forensic Accounting

Credit Points: 15 credit points

Workload: 36 hours

Prerequisite: MA611 Auditing

Co-requisite: N/A

Aims & Objectives

This is a Year 2, Elective Unit in the Master of Professional Accounting. For Course Learning Outcomes and further information relating to Master of Professional Accounting program please visit our website:

This unit introduces students to concept and functions of forensic accounting and fraud examination. Detection and investigative tools and techniques. The unit also explores various fraud schemes including corruption, asset misappropriation and fraudulent statements. The unit also introduces students to a framework for business valuation and analysis, including strategy, accounting and financial analyses.
This unit will cover the following topics:

  • Introduction to forensic accounting and fraud examination   
  • Preventing fraud   
  • Recognising the symptoms of fraud   
  • Data driven fraud detection   
  • Investigating theft and concealment act  
  • Conversion investigation   
  • Inquiry methods and fraud reports  
  • Financial statement fraud   
  • Business analysis and valuation   

Learning Outcomes

Course Learning Outcomes

The Course learning outcomes applicable to this unit are listed on the Melbourne Institute of Technology’s website:  

Unit Learning Outcome

At the completion of this unit, students will be able to: 
a. Describe and explain the process of forensic accounting.
b. Present orally and in writing issues and cases in forensic accounting. 
c. Discuss in groups and solve in groups forensic accounting cases.
d. Identify the risks of fraud and plan accounting systems to minimize fraud.
e. Understand the links between corporate governance and risk management.
f. Apply accounting and other models to the valuation of businesses.


Assessment Task Due Date A B Unit Learning Outcomes
1. Contribution and Participation Weeks 1-12 - 6% a-f
2. Formative Assessment Week 3 - 4% a
3. Assignment [Individual] Week 7 15% - a,b
4. Assignment [Group] Week 11 20% - a-e
5. Presentation [Individual] Week 11 - 5% -
6. Case Study Analysis [Individual] (3 hours) TBA - 50% a,b,d,e,f
TOTALS   35% 65% 100%

Task Type: Type A: unsupervised, Type B: supervised.

Contribution and Participation (6%)

This unit has class participation as an assessment. The assessment task and marking rubric will follow the Guidelines on Assessing Class Participation ( Further details will be provided in the assessment specification on the type of assessment tasks and the marking rubrics.

Teaching Methods

NOTE: All School of Business units 3-hour workshops Flipped Classroom Mode.

Textbook and Reference Materials

Note: Students are required to purchase the prescribed textbook and have it available each week in class.

Copies of the textbook are available in the MIT Library.

Prescribed Text Books

  • Albrecht, W.S., Albrecht, C.O., Albrecht, C.C., and Zimbelman, M.F., (2018), Fraud Examination (6th edition). Cengage Learning. 
  • Palepu, K. G., Healy, P. M. and Peek E. (2016) Business Analysis and Valuation: IFRS Edition (4th edition). Cengage, Learning.

Other recommended texts

  • Du Plessis, J.J., Hargovan, A., Bagaric, M., and Harris, J., (2014), Principles of Contemporary Corporate Governance (3rd edition). Cambridge University Press.
  • Golden, T.W., Skalak, S.L., and Clayton, M.M., (2011), A Guide to Forensic Accounting Investigation (2nd edition). John Wiley.
  • Hopwood, W.S., Leiner, J.J., and Young, G.R., (2012), Forensic Accounting and Fraud Examination (2nd edition). McGraw-Hill.
  • Kranacher, M.J., Riley, R.A., and Wells, J.T., (2011), Forensic Accounting and Fraud Examination, John Wiley.

Journal articles

  • Bishop, C. C, D. R. Hermanson and R. A Riley Jr. (2017) Collusive Fraud: Leader, Incident, and Organizational Characteristics. Journal of Forensic Accounting Research, Vol. 2, No. 1, A49-A70.
  • Fleming, S., D. R. Hermanson, M.-J. Kranacher, and R. A. Riley, Jr. (2016) Financial Reporting Fraud: Public and Private Companies. Journal of Forensic Accounting Research, Vol. 1, No. 1, pp. A27-A41. 

Check the unit Moodle page for additional recommended readings throughout the trimester.

The Referencing style for this unit is APA: See the MIT Library Referencing webpage: and the Unit Moodle page for additional referencing support material and weblinks.

Graduate Attributes

MIT is committed to ensure the course is current, practical and relevant so that graduates are “work ready” and equipped for life-long learning. In order to accomplish this, the MIT Graduate Attributes identify the required knowledge, skills and attributes that prepare students for the industry.
The level to which Graduate Attributes covered in this unit are as follows:

Ability to communicate Independent and Lifelong Learning Ethics Analytical and Problem Solving Cultural and Global Awareness Team work Specialist knowledge of a field of study


Levels of attainment Extent covered
The attribute is covered by theory and practice, and addressed by assessed activities in which the students always play an active role, e.g. workshops, lab submissions, assignments, demonstrations, tests, examinations.
The attribute is covered by theory or practice, and addressed by assessed activities in which the students mostly play an active role, e.g. discussions, reading, intepreting documents, tests, examinations.
The attribute is discussed in theory or practice; it is addressed by assessed activities in which the students may play an active role, e.g. lectures and discussions, reading, interpretation, workshops, presentations.
The attribute is presented as a side issue in theory or practice; it is not specifically assessed, but it is addressed by activities such as lectures or tutorials.
The attribute is not considered, there is no theory or practice or activities associated with this attribute.