International Financial Reporting Standards for Financial Statement Fraud (Online Self-Study)

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CPE Credit: 2
Course Level: Intermediate
Prerequisite: Basic knowledge of financial transactions and accounting



This course covers the basics of financial statement fraud including red flags and ways to detect potential schemes, with a focus on International Financial Reporting Standards (IFRS). It provides an overview of IFRS and guidance related to revenue recognition revisions under IFRS.


You Will Learn How To:

Assess international financial reporting standards and their impact on the financial reporting process

Examine financial statement fraud in general and related fraud schemes

Identify red flags of financial statement fraud schemes

Determine methods of detecting financial statement fraud


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Field of study: Accounting

Last updated: August 2016


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Please note: To be eligible for CPE credit, you must complete the final exam within one year of purchase date. You may only claim CPE credit for a course once. 

Table of Contents: 


Lesson 1: Financial Statement Fraud

Lesson 2: Responsibility for Financial Statements

Lesson 3: International Financial Reporting Standards

Lesson 4: IFRS 1 First-Time Adoption

Lesson 5: IFRS 13 Fair Value Measurement

Lesson 6: IFRS 15 Revenue from Contracts with Customers

Lesson 7: Revenue Recognition Fraud Schemes

Lesson 8: Improper Deferral of Costs and Expenses

Lesson 9: Improper Asset Valuation

Lesson 10: Improper Recording of Liabilities

Lesson 11: Inadequate Disclosures

Lesson 12: Detecting Fraud Through Financial Statement Analysis

ACFE online self-study courses feature:

24/7 access to courses through your Internet browser
Save time and quickly earn CPE credits with instant access, grading and printable certificate
The flexibility to start or stop a course and pick-up right where you left off
No additional shipping fees 

Learn more about accessing your online self-study course.

Learn more about online self-study courses and their features.


System requirements:


Internet access: High-speed connection recommended

Free Adobe Flash Player 

Speakers required for video sound

Online Self-Study Troubleshooting Guide:

Problem: When I attempt to access my courses from “My Online Learning,” the course never launches, or I receive an error message saying my pop-up blocker needs to be turned off.

Solution: Your web browser must be configured to allow pop-ups in order to access ACFE Self-Study courses. Your browser may prompt you to allow pop-ups, or you may have to allow them manually. You may either allow them for all sites, or allow them just for the current site.

For information on how to manage your pop-up blocker settings in a specific browser, click the link below that corresponds to the browser you are using:

  Internet Explorer
  Google Chrome

Also note that many toolbars, such as the Google Toolbar and Yahoo! include pop-up blockers as well. If you have one or more toolbars installed on your browser with built-in pop-up blockers, you must configure them to allow pop-ups.

Problem: When I click on a course from “My Online Learning,” I am presented with a login page, but my username and password won’t allow me to log in.

Solution: You do not have to log in a second time to access your online self-study. You most likely reached the login page because you clicked the link labeled “Click Here” as shown below:


  Online SS Image Absorb Error 


Do not click that link; instead, allow your browser to automatically open the eLearning window on its own, which should happen after a few seconds. This will log you in automatically so that you can access your online courses.


Problem: I receive the following error when I try to load a different lesson with a course:


  SS Online API Error 


Solution: This occurs in Internet Explorer when trying to load a different lesson without closing the current lesson. This error can be avoided two different ways:


Always close the current lesson before going to another one. Always click the Close Window button (usually the red “X” in the upper right corner) of the current lesson before clicking on another lesson.

Use a different browser. This error seems to only occur in Internet Explorer, so using Mozilla Firefox or Google Chrome should resolve the issue (see below for links to download either of these browsers).

Other Troubleshooting Tips: If you encounter other errors, such as courses freezing or crashing, we recommend taking the following action:

Try a different browser. ACFE online self-study courses are designed to run on all modern web browsers, but if you encounter a problem that is not solved using one of the suggestions above, you can try using a different web browser to see if it eliminates the problem. We have most frequently seen where using Mozilla Firefox or Google Chrome has resolved an issue that was seen in Internet Explorer.

Mozilla Firefox can be downloaded here
Google Chrome can be downloaded here 


Make sure you are running the latest version of Flash. Go to to see what version of Flash you are running, and then compare that to the table on that page to see what the latest version is for your operating system/browser combination. If you are not running the newest version, you should upgrade and see if that resolves the problem.