Research School of Accounting
BUSN8067: Forensic Accounting
TEAM ASSIGNMENT (25%)
Due Date:
5.00 p.m. Tuesday 7 May 2024
BUSN8067 Forensic Accounting Team Assignment
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INTRODUCTION
This Team Assignment must be submitted in teams of between THREE to FOUR members.
The final submission will be assessed on its merits irrespective of the number of members in a team.
Individual assignments will NOT be accepted unless there are exceptional circumstances
and prior approval. All requests for completing the assignment as an individual MUST be
made in writing, with reasons, to the course convenor by 5pm 15 April 2024.
OBJECTIVES
The primary objectives of the assignment are to examine your ability to:
(a) inquire and examine an assigned topic area,
(b) draft a coherent and concise analysis of the selected topic,
(c) increase your exposure and familiarise yourself with forensic accounting concepts,
(d) consolidate your knowledge and skills acquired through the course, and
(e) work effectively and efficiently as an individual and as a member of a team.
Consequently, you should be able to analyse complex issues, to formulate well-reasoned and
coherent arguments and to reach well-considered conclusions. Also, you should be able to present
these conclusions via an appropriate written format.
MARKS ALLOCATION
Requirements 1 to 6 (100 marks) 20
Adherence to academic integrity principles (15 marks) 3
Overall format, language and presentation (10 marks) 2
TOTAL 25
NOTE: All submissions are assessed on a team basis, i.e., all members of the team will receive
the same score.
SUBMISSION
This group assignment is due no later than 5p.m. on the due date. Refer to the submission
instructions on Wattle.
POLICY ON EXTENSIONS
All requests for assignment extensions must be made in advance of the due date to the course
coordinator. Significant reasons must exist for an extension and supporting medical evidence may
need to be provided.
BUSN8067 Forensic Accounting Team Assignment
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LATE ASSIGNMENT
Late submission of assessment tasks without an extension are penalised at the rate of 5% of the
possible marks available per working day or part thereof. Late submission of assessment tasks is
not accepted after 10 working days after the due date, or on or after the date specified in the course
outline for the return of the assessment item.
GENERAL INSTRUCTIONS
 This assignment can be completed in teams of between 3 to 4 students. It is expected that each
team will manage the tasks required for the assignment in a way that ensures all members
contribute fully and effectively to the completion of the assignment. All members of the team
will receive the same score.
 Only ONE assignment is required to be submitted per team. Refer to the submission
instructions on Wattle.
 Please remember to retain the original computer file (including the completed cover page) for
your own reference and as insurance in the event that a copy of your assignment is requested.
FORMAT AND PRESENTATION
The team should ensure that the assignment is well-presented and is as clear and concise as possible.
Presentation includes formatting and layout considerations, which assist in conveying information
to the reader in a manner that is easy to follow. Ensure that you appropriately cross-reference your
work. Ensure that the work adheres to academic integrity principles and requirements. Please also
apply one referencing convention consistently - Harvard referencing style is appropriate.
Your assignment must be word-processed, using the Times New Roman font size 12 (or equivalent).
The line spacing must be at least a line and a half and there must be a minimum page margin 2.5
cm on all sides.
QUERIES
All the necessary information you require to complete this assignment is provided in this document.
It is recommended that you use Microsoft Excel or equivalent to complete this assignment due to
its mathematical nature. Please do not directly approach individual staff with queries about the
assignment. Should it be necessary to ask a question about the assignment, you should email your
question to the course convenor. We will endeavour to respond to valid questions within 2 working
days of receipt of your email. Responses to all valid queries will be posted on the “Team Assignment
FAQ” webpage on Wattle. Please note that any queries received after 12pm on Friday 3 May 2024
will not be answered due to the closeness of the due date.
BUSN8067 Forensic Accounting Team Assignment
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BACKGROUND
Your team of forensic accountants are new to the Results Consulting Group. The Director of the
company has called a meeting with your team to discuss a potential new project in fraud prevention
and investigation.
THE MEETING
In the meeting, she talked about the many examples of fraudulent financial reporting that had made
headlines over the last few decades including Enron, WorldCom, Adelphia, Tyco, Luckin Coffee,
Big Un Limited, 1MDB and a recent example of accounting reporting scandal Wirecard. She further
explained that Wirecard’s auditors failed to conduct a routine audit procedure to request crucial
account information from a Singapore bank where Wirecard claimed it had up to €1bn in cash
(Kinder and Storbeck, 2020).
She then proceeded to explain to your team that the company has been approached to be part of a
fraud prevention project. It is still very early stages of the project, and she is still waiting for further
information. However, as your team is new to the Results Consulting Group, she wants your team
to research and prepare a business report that can provide information useful for the discussion
around the fraud prevention project. She is particularly interested in comparing trends across time
in relation to fraudulent financial reporting and lessons to be learnt. She ponders for a bit and
decided to ask your team to research the collapse of the One-Tel telecommunications company back
in 2001. She also wants your team to research a recent financial reporting scandal – Luckin Coffee.
Ultimately, she would like a report that highlights similarities or differences in terms of these two
scandals that happened 20 years apart with recommendations on potential fraud prevention
strategies that may have been able to prevent the fraud in the first place.
SUPPLEMENTAL INFORMATION
According to the financial press, across examples of fraudulent financial reporting and accounting
fraud, management team had prioritised their own benefit at the detriment of the other stakeholders
(such as employees, creditors, investors and even entire communities). Such high-profile financial
statement frauds allegedly committed by large companies have resulted in renewed interest in more
responsible corporate governance to ensure the reliability of financial statements. The assessment
of internal controls, preservation of evidence, whistle-blower protection, and increased penalties for
financial fraud are increasingly important in the business world.
BUSN8067 Forensic Accounting Team Assignment
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REQUIREMENTS
Your team needs to prepare a formal business report (including an executive summary), with an
upper limit of 2,500 words (words in excess of the limit will not be considered as part of the
assignment), responding to the requirements below, and addressing any other pertinent issues
related to the topics covered in this course thus far. In particular, your team’s report should include,
but is not limited to:
i. a summary of the two fraud case detailing what happened, how it happened, a timeline of
events, who perpetrated the fraud, and any legal outcomes; [10 marks]
ii. discussion on fraud theory (and recent developments), identifying the fraud model that offers
the best possible explanation for the actions of the perpetrator(s) in the two fraud case; [20
marks]
iii. comparison between the two fraud cases, highlighting similarities and differences; [20 marks]
iv. discussion on appropriate analysis techniques given the specifics of the fraud case; [10 marks]
v. discussion around possible fraud prevention or deterrence strategies or tools that might be able
to prevent the frauds in the first place, [30 marks]
vi. if relevant, ethical issues, conflicts of interest, and noncompliance with corporate policies and
procedures that investigator(s) may have faced in the context of the investigation. [10 marks]

While some discussion may be general in nature, ensure that your report makes specific reference
to forensic accounting concepts introduced in the course, where applicable.

Your team will need to research appropriate and reputable sources to address the above
requirements. Your main discussion should be supported by reputable sources (such as the financial
press, published financial reports and journal articles).
__________________________________________________
References:
Bakarich, K. M. (2022). Using data visualization to help uncover fraud: Certified public
accountant. The CPA Journal, 92(3), 24-29. Retrieved from https://www.proquest.com/scholarly-
journals/using-data-visualization-help-uncover-fraud/docview/2654399363/se-2
Kinder, T., & Storbeck, O. (2020). EY prepares for backlash over wirecard scandal. FT.Com,
Retrieved from https://www.proquest.com/trade-journals/ey-prepares-backlash-over-wirecard-
scandal/docview/2476105211/se-2
BUSN8067 Forensic Accounting Team Assignment
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ASSESSMENT CRITERIA
Your assignment will be assessed based upon the following criteria:
- depth and breadth of coverage, critical elements and structure (e.g., level of analysis, level of
research, relevance of discussion), and language and conventions (e.g., consistency with a
professional presentation). See Grade Related Descriptors below. Note: A well written,
structured, and organised report will receive low assessments if it is not relevant.
The criteria listed above are not mutually exclusive but are complementary in the overall assessment
of the assignment.
Grade Related Descriptors
Grades Depth and Breadth of
Coverage
Critical Elements Structure, Language
and Conventions
High
Distinction
80% - 100%
All aspects of the issue(s)
were covered in a thorough
way.
The report shows great
depth of thought,
excellent development of
discussion, logical
analysis and insight into
the subject.
All aspects of the report
conform to a high
professional standard.
Distinction
70% - 79%
Most aspects of the
issue(s) were addressed in
great depth.
The report shows some
evidence of analysis,
supported by logical
discussion and insight
into the subject.
Most aspects of the
report conform to a
high professional
standard.
Credit Pass
60% - 69%
Most aspects of the
issue(s) were addressed
adequately.
The report shows
evidence of elementary
analysis and the
development of
discussion.
Most aspects of the
report conform to an
acceptable professional
standard.
Pass
50% - 59%
Key aspects of the issue(s)
were addressed adequately.
The report is mainly
descriptive, showing basic
understanding of the
subject.
The report displays
basic report structure.
Fail
<50%
Responses were superficial
and / or inadequately
addressed the issue(s).
The report demonstrates
limited understanding of
the subject.
The report is not of a
professional standard.