Review-paper

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ISSUES IN ACCOUNTING EDUCATION Vol. 23, No. 4 November 2008 pp. 581–592

The Model Curriculum in Fraud and Forensic Accounting and Economic Crime

Programs at Utica College George E. Curtis

THE FIRST OF ITS KIND: PART I

U tica College initiated its undergraduate major in Economic Crime Investigation in Fall 1987. The major was the first of its kind in the United States and, to the extent disclosed by our research, the world. Although some institutions of higher education

offered a course in white collar crime or financial crime, no institution offered an entire major focused on that subject area.

The formal title of the major, Criminal Justice-Economic Crime Investigation, high- lights its basis in the criminal justice discipline. The major offered two concentrations of study: financial investigation, and computer security. The major, as originally constituted, was as follows:

Major Course Requirements Credits

CRJ 201 Introduction to Criminal Justice I 3 CRJ 202 Introduction to Criminal Justice II 3 SOC 274 Criminology 3 CRJ 313 Corruption and Organized Crime 3 POL 341 Jurisprudence 3 CRJ 342 Constitutional Law in the Criminal Process 3 CRJ 431 Economic Crime Investigation 3 CRJ 491 Senior Seminar 3

Major Related Requirements

SOS 101

SOC 252

Introduction to Black Studies —or— Racial and Cultural Minorities

3

3 PSY 101 Introduction to Psychology 3 PSY 222

PSY 331

PSY 361

Developmental Psychology II: Adolescence —or— Introduction to Social Psychology —or— Abnormal Psychology

3

3

3

George E. Curtis is a Professor at Utica College.

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Concentrations Select either Financial Investigations or Computer Security

Financial Investigations Concentration ACC 105 Financial Accounting 3 ACC 201 Intermediate Accounting 3 ACC 202 Intermediate Accounting 3 ACC 301 Income Tax Accounting 3 ACC 401 Auditing 3

Select two of the following: BUS 225 BUS 226 BUS 227 ECN 141 ECN 142 ECN 442 FIN 251

Organization and Management Law of Contract and Sales Law of Business Organizations and Negotiable Instruments Principles of Economics I Principles of Economics II Public Finance and Fiscal Policy Corporation Finance

3 3 3 3 3 3 3

Computer Security Concentration CSC 101 Introduction to Computer Science 3 CSC 212 COBOL Programming 3 CSC 301 Assembler Language Programming 3 CSC 303 Computer Organization 3 CSC---- Computer Science Elective 3 ACC 101

ACC 102

ACC 105

ACC 201

Elementary Accounting I —and— Elementary Accounting II —or— Financial Accounting —and— Intermediate Accounting

3

3

3

3 Two electives from same elective list as in Financial

Investigation Concentration 6

The curriculum has changed numerous times over its lifespan of 20 years. The changes, however, have not altered the essential structure of the program as a criminal justice-based major, and the two concentrations, for the moment,1 remain the same. The major currently is as follows:

Major Course Requirements Credits

CRJ 101 Introduction to Criminal Justice Research Methods 1 CRJ 103 Introduction to Criminal Justice 3 SOC 274 Criminology 3 GOV 341 Jurisprudence of the Criminal Law 3 CRJ 333 Information Security 3 CRJ 334 Economic Crime Investigation 3

1 The Economic Crime and Justice Studies Department plans to discontinue the Computer Security concentration, which is currently offered as a concentration in the College’s Cybersecurity and Information Assurance major, and to offer in its place a new concentration in fraud prevention and detection. The proposed concentration will be presented to faculty constituencies in Fall 2008.

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CRJ 335 Cybercrime Law and Investigations 3 CRJ 343 Law of Economic Crime 3 CRJ 461 Senior Seminar 3 CRJ 470 Internship 6–15

Major Related Requirements

ECN 131 Principles of Microeconomics 3 SOC 376 Criminological Research Methods 3 MAT 112

PSY / SOC 211

ECN 241

Statistics —or— Statistics in the Behavioral Sciences —or— Statistics

3

3

3

Major Concentration Select either Financial Investigation or

Computer Security Concentration

Financial Investigation ACC 201 Financial Accounting 3 ACC 202 Managerial Accounting 3 ACC 301 Intermediate Accounting I 3 ACC 302 Intermediate Accounting II 3 ACC 406 Forensic Accounting and Fraud Auditing 3 FIN 333 Corporation Finance 3

Computer Security CSC 101 Computer Science I 3 CSC 201 Discrete Mathematics I 4 CSC 303 Computer Organization 4 CSC 316 Object-Oriented Programming 3 CSC 323 Introduction to Networks 3 CSC 432 Computer and Network Security 4 CRJ 435 Computer Forensics 3

It should be noted that this major, as well as the programs discussed below, encompass a seemingly limitless variety of economic crimes; it is not limited to financial fraud. Con- ceptually, economic crime is viewed by the faculty at Utica College as any nonviolent crime undertaken with the objective of causing economic harm or gaining improper economic advantage. That definition encompasses several crimes that do not include fraudulent fi- nancial documentation in methodology, such as corporate espionage, intellectual property crime, identity theft, and access device fraud.

THE FIRST OF ITS KIND: PART II Utica College offered its first graduate degree program, a Master of Science degree in

economic crime management (ECM), in January 1999. Again, at the time the ECM program was the first of its kind in the United States and, to the extent revealed by research, the world. The program is designed to integrate the disciplinary themes of economic crime, management, research, and technology directed toward professionals at the mid- management level. Applicants must have a minimum of two years of experience in law enforcement, fraud-related, or security-related occupations. The program currently offered is as follows:

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Credits

ECM 611 Organizational Theory, Structure, and Design 3 ECM 612 The Manager in a Global Environment 3 ECM 621 Advanced Economic Crime 3 ECM 622 Legal Concepts of Criminal Fraud and Corporate Criminal Liability 3 ECM 626 Financial Investigations 3 ECM 631 Fraud Management and Technology 3 ECM 632 Information and Communication Security 3 ECM 633 Networks and Internet Security 3 ECM 637 Fraud Management: Risk and Compliance 3 ECM 642 Advanced Fraud Analysis 3 ECM 651

ECM 653

Professional Project I —or— Thesis I

3

3 ECM 652

ECM 654

Professional Project II —or— Thesis II

3

3

The economic crime management is a part-time (two courses per term) program offered principally online. There are two residencies on the Utica College campus, one at the start of the program and the other during the third term. Students have the option of attending a third residency in person or by video conferencing. Students proceed through the program as a cohort, taking a prescribed sequence of courses.

THE FIRST OF ITS KIND: PART III Utica College implemented a Master of Business Administration degree program in

Economic Crime and Fraud Management in 2004. This program is designed for students who do not have experience in law enforcement, fraud-related, or security-related occu- pations but who wish to gain an exposure to fraud education. Unlike the M.S. degree program in economic crime management, which is based in criminal justice / economic crime, the M.B.A. program is based in management. The program is as follows:

Management Courses Credits

MGT 601 Core Topics in Management I 6 MGT 602 Core Topics in Management II 6 MGT 619 Strategic Management and Leadership 3 ECN 607 Quantitative Analysis for Management 3

Fraud Management Required Courses

ECM 603 Management of Fraud Prevention and Detection 3 ECM 604 Seminar in Fraud Management 3

Fraud Management Elective Courses Select Two

ECM 535 Legal and Investigative Issues for Fraud Management 3 ECM 623 Advanced Fraud Investigation and Analysis 3 ECM 632 Information and Communication Security 3 ECM 641 Research and Analytical Methods in Fraud Management 3

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ACC One elective may be selected from M.B.A. in Professional Accountancy major. The choices are:

ACC 601 Seminar in Advanced Managerial Accounting

ACC 602 Seminar in Professional Accounting Practice

ACC 603 Taxes and Business Strategy

ACC 604 Seminar in Assurance and Forensic Auditing

3

3

3

3

3

The majority of students select ECM 535 and ECM 623 as their fraud management electives. The students opting to enroll in ACC 604 as an elective typically are students who have an undergraduate degree in accounting or management and have previously com- pleted courses in accounting. The typical student, therefore, does not seek the benefit of a course focused on forensic accounting and fraud auditing.

THE MODEL CURRICULUM IN FRAUD AND FORENSIC ACCOUNTING AS REFLECTED IN ECONOMIC CRIME PROGRAMS

The Model Curriculum in Fraud and Forensic Accounting2 identifies six subject matter components recommended as essential to that curriculum. Because the undergraduate ECI major and graduate majors were implemented prior to development of the Model Curric- ulum, the remainder of this article describes the manner in which the Model Curriculum is reflected in each program or has influenced recent or proposed revisions to the programs. The following chart identifies those courses in each program that incorporate at least a significant portion of components of the Model Curriculum. Following the chart is a more detailed explanation of that incorporation.

Model Curriculum Component Utica College Programs

Criminology, Legal Environment, and Ethics

Undergraduate ECI: CRJ 103 Introduction to Criminal Justice SOC 274 Criminology GOV 341 Jurisprudence of the Criminal Law CRJ 335 Cybercrime Law and Investigations CRJ 343 Law of Economic Crime PHI 108 Professional Ethics3

MS Degree in Economic Crime Management: ECM 621 Advanced Economic Crime ECM 622 Legal Concepts of Criminal Fraud ECM 637 Fraud Management: Risk and Compliance

M.B.A. in Economic Crime and Fraud Management: ECM 535 Legal and Investigative Issues in Fraud

Management ECM 604 Seminar in Fraud Management

2 NIJ Special Report (2005). Education and Training in Fraud and Forensic Accounting: A Guide for Educational Institutions, Stakeholder Organizations, Faculty, and Students.

3 Although this course is not required, all ECI majors are advised to complete this course. Professional Ethics is offered by the Philosophy Department for all students. Thus, the ethical issues and case scenarios are not limited to financial fraud circumstances. Students have the benefit of understanding and thinking critically about ethical issues in a variety of disciplines, e.g., medical, business, and information technology.

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Core Foundation in Fraud and Forensic Accounting

Undergraduate ECI: ACC 406 Forensic Accounting and Fraud Auditing CRJ 334 Economic Crime Investigation

MS in Economic Crime Management: ECM 621 Advanced Economic Crime ECM 626 Financial Investigations

M.B.A. in Economic Crime and Fraud Management: ACC 604 Seminar in Assurance and Forensic

Auditing ECM 623 Advanced Fraud Investigation and

Analysis

Asset Misappropriation, Corruption, False Representations, and Other Fraud Acts

Undergraduate ECI: ACC 406 Forensic Accounting and Fraud Auditing CRJ 334 Economic Crime Investigation

MS in Economic Crime Management: ECM 626 Financial Investigations

M.B.A. in Economic Crime and Fraud Management: ACC 604 Seminar in Assurance and Forensic

Auditing ECM 623 Advanced Fraud Investigation and

Analysis

Financial Statement Fraud Undergraduate ECI: ACC 406 Forensic Accounting and Fraud Auditing

MS in Economic Crime Management: ECM 621 Advanced Economic Crime ECM 626 Financial Investigations ECM 631 Fraud Management and Technology

M.B.A. in Economic Crime and Fraud Management: ACC 604 Seminar in Assurance and Fraud Auditing

Fraud and Forensic Accounting in a Digital Environment

Undergraduate ECI: ACC 406 Forensic Accounting and Fraud Auditing CRJ 335 Cybercrime Law and Investigations

MS in Economic Crime Management: ECM 626 Financial Investigations

M.B.A. in Economic Crime and Fraud Management: ACC 604 Seminar in Assurance and Fraud Auditing

Forensic and Litigation Advisory Services

Undergraduate ECI: ACC 406 Forensic Accounting and Fraud Auditing

MS in Economic Crime Management: ECM 626 Financial Investigations

M.B.A. in Economic Crime and Fraud Management: ACC 604 Seminar in Assurance and Fraud Auditing

The ‘‘Implementation Guide’’ for the Model Curriculum includes six tables identifying curricular content recommended for inclusion in each component. This portion of the article

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provides a brief description of the content areas of each component and a discussion of the incorporation of that content within the economic crime programs at Utica College.

Criminology, Legal Environment, and Ethics The Implementation Guide recommends a study of criminology, including the moti-

vation for and causation of crime and the size and scope of fraud and financial crime; the legal and regulatory environment, including an overview of court and regulatory systems, civil and criminal procedure, criminal law theory, the rules of evidence relevant to the tasks of forensic accountants, the different civil and criminal remedies, and the elements of fraud laws relevant to the tasks of forensic accountants; and the importance of ethics, not only because ethics is often a precursor to crime, but also because a solid ethical foundation is critical to the qualifications and integrity of the forensic accountant. Because the core of the ECI and ECM programs is based in criminal justice, the content in those programs understandably exceeds the recommended content of this component of the Model Curriculum.

On the undergraduate side, CRJ 103 Introduction to Criminal Justice includes signifi- cant content on court systems in the United States and criminal procedure and surveys the various components of the criminal justice system. The course on criminology (SOC 274) is a traditional theory course on crime. The faculty who teach that course have prepared a customized reader that exposes students to articles discussing the motivation for, and cau- sation of, economic crimes. The course on economic crime investigation (CRJ 334) devotes equal weight to a survey of the various types of economic crime and the methodologies employed in the commission of those crimes and to investigative procedures, including interviewing, data analysis, and the use of link analysis software.4

Undergraduate ECI majors are required to complete three courses focused on law. Jurisprudence of the Criminal Law (GOV 341) introduces the student to the theories un- derlying criminal law theory and the case study approach to the interpretation of penal statutes. Cybercrime Law and Investigations (CRJ 335) includes the substantive law of cybercrime, the best practices in searching for and seizing electronic evidence at the scene of a cybercrime or other crime scenes, and the procedural laws that apply to search and seizure, wiretapping, pen register and trap and trace devices, access to stored electronic communications, and other forms of surveillance pertinent to the investigation of economic crimes. The Law of Economic Crime (CRJ 343) considers statutory and case law, both federal and state, concerning numerous economic crimes, as well as the application of procedural issues in an economic crime context. Financial crimes considered include bank fraud, loan application fraud, securities fraud (which includes, of course, financial statement fraud), bankruptcy fraud, tax crimes, money laundering and currency transaction reporting, and violations of the Foreign Corrupt Practices Act and the Racketeer Influenced and Cor- rupt Organizations (RICO) Act.

Students also study how various financial fraud schemes are prosecuted under ‘‘ge- neric’’ fraud statutes such as mail fraud, wire fraud, and conspiracy. On the procedural side, course content focuses on grand jury proceedings, administrative proceedings, evidentiary privileges, subpoenas and search and seizure, issues that arise during parallel proceedings,

4 Because the course is equally divided between theory and investigative techniques and because of the expanded use of technology in conducting investigations, the Department faculty has created a course devoted entirely to economic crime theory. The planned addition of the theory course during the 2009 academic year will provide students with greater consideration of criminological study specific to economic crime and greater coverage of technological applications in the investigation of economic crimes.

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and criminal sanctions. The subject of ethics is taught across the curriculum, with specific ethical topics addressed in the course on economic crime investigation and senior seminar, the latter a capstone course that seniors must take before their internship.

One of the first set of two courses ECM graduate students experience is ECM 621 Advanced Economic Crime. That course focuses extensively on current economic crime rates, patterns, and trending. Students are required to review and analyze the most recent annual crime surveys or reports of the Computer Security Institute, Internet Crime Com- plaint Center, Federal Trade Commission, and PricewaterhouseCoopers. While the nature of the materials change from time to time, students also are required to analyze a major corporate fraud (last semester the choices were Enron, Adelphia, Hollister International, and Tyco) and develop a presentation that includes an identification of the fraudsters, the methodology of the crime, the motivation(s) for the conduct, applicable criminological theories, and the procedural steps of the investigation and prosecution.

Legal Concepts of Criminal Fraud and Corporate Criminal Liability (ECM 622) is the only course focused primarily on legal issues pertaining to fraud and corporate crime. The focus of the course is much the same as Law of Economic Crime (CRJ 343) in the under- graduate curriculum. At the graduate level, fewer crimes are considered but those that are considered are treated in greater depth. The same procedural issues are considered, again in greater depth and often from perspectives shared by student experiences. In Fall 2008, ECM 637 Fraud Management: Risk and Compliance will be offered for the first time. As the course title suggests, half of the course content considers fraud risk and assessment and the other half compliance, and the material is presented from the perspective of a fraud or operational risk manager. Several statutory and regulatory compliance mandates are con- sidered, including the information privacy and security standards of the Gramm-Leach- Bliley Act (GLBA) and Health Insurance Portability and Accountability Act (HIPAA); the anti-money laundering mandates of Title III of the U.S. PATRIOT Act; and the compliance mandates of the Sarbanes-Oxley Act.

The M.B.A. course, Legal and Investigative Issues in Fraud Management, is in part a misnomer. It might more appropriately be entitled Legal and Regulatory Issues in Fraud Management. Three texts are required reading in the course: a law-school casebook on white collar crime; a text on information privacy law; and a text on Sarbanes-Oxley written for executives of corporations. Approximately one-third of the course is devoted to federal laws applicable to economic crime, including conspiracy, mail fraud, wire fraud, money laundering and currency transaction reporting, computer fraud, securities fraud, bribery and extortion, perjury, obstruction of justice, and violations of the RICO Act, as well as pro- cedural law governing grand jury proceedings, internal investigations, evidentiary privileges, administrative investigations, parallel proceedings, and sentencing.

Another third of the content addresses federal laws and court decisions governing information privacy (GLBA, Fair Credit Reporting Act, HIPAA), access to government in- formation, data breach notification laws, and evidence-gathering procedures (subpoenas, search and seizure, wiretapping, and access to stored communications).

The remaining third of the course considers the regulatory structure and accounting and auditing standards pre- and post-Sarbanes-Oxley Act and the impact of that Act upon corporate governance and criminal liability. Although the subject of ethics is taught across all curricula, a segment of the Seminar in Fraud Management (ECM 604) employs a case study approach to ethics issues confronted by fraud managers.

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Core Foundation for Fraud and Forensic Accounting This component includes the foundational areas of study for any program in fraud and

forensic accounting, specifically the definitions of fraud and forensic accounting; concepts of fraud and risk factors for fraud (the so-called ‘‘red flags’’); fraud prevention and deter- rence; the different roles of auditors, anti-fraud professionals, and forensic accounting pro- fessionals; and the various types of forensic accounting engagements.

Because fraud and forensic accounting are part of each degree program, all of the content areas of this component are included in the undergraduate and graduate curricula. The undergraduate course on Economic Crime Investigation (CRJ 334) considers the con- cept of fraud, the risk factors for fraud, and fraud prevention and deterrence, and the course in Forensic Accounting and Fraud Auditing (ACC 406) considers the remaining topical areas. On the graduate ECM side, Advanced Economic Crime (ECM 621) considers fraud, the risk factors, and fraud prevention and deterrence, while Financial Investigations (ECM 626) considers the types of forensic engagements, and the different roles of auditors, anti- fraud professionals, and forensic accountants. The M.B.A. program likewise covers all topical areas in two courses: ECM 632 Advanced Fraud Investigation and Analysis and ACC 604 Seminar in Assurance and Fraud Auditing.

Asset Misappropriation, Corruption, False Representations, and Other Fraud Acts This component encompasses issues relating to prevention and deterrence, detection,

investigation techniques, reporting, and remediation as they apply to asset misappropriation and other fraudulent acts described by the component.

The Economic Crime Investigation course (CRJ 334) focuses on investigation tech- niques pertinent to a variety of fraud types, with consideration of the value of applying certain techniques to certain crimes. Although all economic crimes are considered, the fraud types identified by this component are discussed in the course. A considerable portion of this course is devoted to interviewing techniques and the use of technology, particularly link and chart analysis,5 as an investigative tool. While the investigation course provides some discussion of material in the areas of reporting and remediation, much greater em- phasis is placed on those topics in the forensic accounting course (ACC 406). On the graduate side, asset misappropriation, corruption, false representations, and other fraudulent acts, as well as the investigative techniques related to those acts are considered in the course on Advanced Economic Crime (ECM 621) and Financial Investigations (ECM 626) in the Economic Crime Management program, and in Advanced Fraud Investigation and Analysis (ECM 623) and Seminar in Assurance and Forensic Auditing (ACC 604) in the M.B.A. program. Although there are subtle distinctions, the overall approach of CRJ 334, ECM 621, and ECM 623 to fraud investigation, prevention, and deterrence is the same.

Financial Statement Fraud This component includes consideration of the various types of financial statement

frauds, anti-fraud techniques and controls, risk assessment and the testing of internal con- trols, fraud investigation procedures, effective communications and reporting techniques, remediation techniques, and special legal and regulatory issues applicable to financial state- ment fraud.

The undergraduate course, CRJ 334 Economic Crime Investigation, considers many of the topical areas of this component. This course considers the types of financial statement

5 Utica College is an academic partner with i2, Inc. This partnership enables us to provide the Analyst Notebook 7 Suite for use by our online and campus-based students.

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frauds and briefly touches upon anti-fraud techniques and procedures. Special legal and regulatory issues pertaining to financial statement fraud are considered in the undergraduate course on Law of Economic Crime (CRJ 343). The course on Forensic Accounting and Fraud Auditing considers the topical areas of fraud investigative procedures and remediation techniques in some depth. However, the critical areas of risk assessment, controls, effective communications, and reporting are not currently the subject of any course in the major. In light of the recent history of financial statement frauds and based upon the Model Curric- ulum, the faculty plans to add a course on auditing as a requirement of the financial investigation concentration. A similar content coverage situation applies to the ECM grad- uate program. All of the content areas are addressed in Advanced Economic Crime (ECM 621), Legal Concepts of Criminal Fraud (ECM 622), Financial Investigations (ECM 626), and Fraud Management: Risk and Compliance (ECM 637), except areas pertaining to ef- fective communications and reporting. The M.B.A. program includes all of the content areas of this component, with one or more areas covered in four courses. The curricular deficiency, however, lies in the fact that all four courses6 are electives and M.B.A. students are only allowed by the UT program to take two of the four electives. Thus, as a practical matter, most students complete those courses that focus on the financial statement fraud schemes, fraud investigative procedures, and legal and regulatory issues.

Fraud and Forensic Accounting in a Digital Environment This component encompasses a study of transaction processing systems, including man-

ual and computerized controls, the manner in which information technology systems are used in the commission of fraud, the nature of digital evidence and specialized procedures in the collection, analysis, and preservation of that evidence, the interaction of forensic accountants with information and network security professionals, and the availability and use of software programs for data extraction.

Much of the suggested content is addressed within the undergraduate ECI concentration in financial investigation. The only area not considered is transaction processing and con- trols. The Model Curriculum has, however, served as a catalyst for revision of this concen- tration to require a course in auditing and to include an elective course in accounting information systems.7 Those courses together will provide students with the content in that area. The subjects of digital evidence and procedures for the collection, analysis, and pres- ervation of that evidence, as well as the types of frauds in the digital environment are included in the undergraduate course on Cybercrime Law and Investigations (CRJ 335). The remaining content of this component is presented in ACC 406 Forensic Accounting and Fraud Auditing. On the graduate side, ECM students are exposed to a study of the types of cyber frauds and investigation techniques in ECM 621 Advanced Economic Crime. The nature of digital evidence and procedures for its collection and preservation are covered in ECM 622 Legal Concepts of Criminal Fraud. The availability and use of software for data extraction is considered in ECM 626 Financial Investigations, where IDEA is utilized, and in ECM 631 Fraud Management and Technology. Last, the subject of transaction proc- essing and manual and computerized controls will be part of ECM 637 Fraud Management: Risk and Compliance. The M.B.A. elective, ECM 604 Seminar in Assurance and Forensic Auditing, considers the content prescribed by this component of the Model Curriculum.

6 The courses are ECM 535 Legal and Investigative Issues for Fraud Management, ECM 623 Advanced Fraud Investigation and Analysis, ACC 602 Seminar in Professional Accounting Practice, and ACC 604 Seminar in Assurance and Forensic Auditing.

7 This revision is part of the proposed overhaul of the undergraduate major in economic crime investigation previously mentioned.

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Forensic and Litigation Advisory Services The content of this component includes a study of the different types of civil and

criminal engagements provided by forensic litigation and advisory services, the qualifica- tions essential to performance of those engagements, approaches to research and analysis, financial and economic modeling, the rules of evidence applicable to admission of docu- ments and testimony, the nature and types of damage remedies, business valuations, doc- umentation and report preparation.

The undergraduate course in Forensic Accounting and Fraud Auditing (ACC 406) in- cludes all content items of this component. Additionally, students participate in a mock trial exercise at a local courthouse, gaining valuable practical experience in the examination of a hypothetical case and in the rigor of direct and cross-examination as both a fact and expert witness. The sole accounting course in the ECM program is ECM 626 Financial Investigations. Mindful that this program does not purport to educate students who intend to become forensic accountants but rather to enable managers to understand the need for, and value of, forensic accounting, this course provides students with a brief background in accounting principles, and how those principles are utilized in a forensic engagement. This course might be best described as a primer on forensic accounting and does not address all of the suggested content with the depth and sophistication contemplated by this com- ponent. Likewise, this component of the Model Curriculum is incorporated minimally in the M.B.A. program. The only course in the M.B.A. program related to this component is an elective course, ACC 604 Seminar in Assurance and Forensic Auditing. Because of its focus on assurance and particularly assurance in the area of information technology, stu- dents acquire only a brief introduction to the practice of forensic accounting.

THE CERTIFICATE PROGRAM IN FINANCIAL CRIMES INVESTIGATION Utica College also offers a six-course (18-credit) certificate program in Financial

Crimes Investigation. The program initially was designed several years ago as a professional certificate program for members of the Association of Financial Crimes Investigators (IAFCI). The membership of IAFCI is composed predominantly of individuals employed with companies in the credit card industry. Although the program is no longer affiliated with IAFCI, the selection of the six courses reflects content that the organization considered to be important content areas for its membership. Thus, the program consists of courses in Comparative Criminal Justice Systems, Economic Crime Investigation, Information Secu- rity, Law of Economic Crime, Fraud Prevention and Detection Technologies, and Forensic Accounting and Fraud Auditing. While the design of the curriculum of this certificate program did not contemplate a focus on forensic accounting, the relationship of three of the courses in that program (Economic Crime Investigation, Law of Economic Crime, and Forensic Accounting and Fraud Auditing) to components of the Model Curriculum has pre- viously been discussed. The course in Comparative Criminal Justice Systems also has material that is a part of the content in the criminology, legal environment, and ethics component.

ECONOMIC CRIME INSTITUTE The Economic Crime Institute was established in 1988. Its mission was, and is, to

provide support to the academic programs at Utica College and to present an annual con- ference focused on new and emerging issues in the broad area of economic crime. The first national conference was held in Utica, New York, in 1990 and focused on the subject of computer crime. In October 2008, the Institute held its 19th annual conference, focusing on Economic Crime at Home and Abroad. Conference speakers and attendees were drawn

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from the corporate, law enforcement, and academic sectors, and registrants likewise tradi- tionally reflected a balanced attendance from those sectors. Each year the Institute sponsors the conference registration cost of undergraduate ECI students, enabling students to partic- ipate in a national conference attended by professionals in their career area and to glean content from those in the field, which provides a rich supplement to their education.

The activities of the Institute are directed by a Board of Advisors. Membership on the Board reflects the different areas of economic crime and computer security of the graduate and undergraduate programs at Utica College. Thus, the area of fraud and forensic ac- counting is represented on the current Board of Advisors by individuals from KPMG Fo- rensic and Investigative Services, Daylight Forensic and Advisory LLC, and the internal audit department of JCPenney. Historically, the Board of Advisors has provided significant counsel pertinent to industry perspectives on the curricula, and board members have assisted the faculty in the development or revision of courses.

CONCLUDING THOUGHTS Extraordinary benefits can be realized from the design and delivery of an interdisci-

plinary program on fraud and forensic accounting. Implementing and maintaining an inter- disciplinary program like that at Utica College requires close communication and collab- oration between the criminal justice, accounting, and business educators. We currently have the benefit of an academic structure that enables such collaboration: both the Accounting Department and the Department of Economic Crime and Justice Studies are in the School of Business and Justice Studies. As the preceding discussion reveals, those institutions with criminal justice and accounting programs can develop an interdisciplinary program at the undergraduate and graduate levels that implements the Model Curriculum in its entirety and with a depth of study that provides significant value to graduates.