Fraud Prevention and Ethical Practices in Business

This course is designed to provide an overview of fraud prevention and ethical practices in business. Students will learn about the importance of investing in adequate resources, including staffing and funding, to prevent fraud. The course emphasizes the significance of internal audits as a cornerstone of any organization and discusses the importance of fraud hotlines and the dangers of inadequate resources and awareness.

The course explores the importance of transparency and accountability in preventing scandals and the need for companies to prioritize ethics over anxiety. It covers a case study on JP Morgan Chase's acquisition of Frank and the lessons learned from the scandal. Students will identify the need for banks to conduct reasonability tests and analytical testing of the startups they are interested in acquiring. The course also examines the need for financial institutions to prioritize ethics over anxiety when aiming for good numbers.

Upon completion, students will have a comprehensive understanding of fraud prevention and ethical practices in business. They will be able to identify the signs of fraud and understand the importance of investing in prevention rather than just detection and reporting. Students will also understand the role of internal audits in preventing fraud and the importance of fraud hotlines in preventing corporate fraud. Additionally, they will recognize the importance of transparency and accountability in preventing scandals and the need for companies to prioritize ethics over anxiety.

Field of Study: Auditing