The proposed 12-credit, four-course Graduate Certificate of Professional Studies in Risk, Compliance, and the Law (GC-RCL) offered through the Center for the Study of Business Ethics, Regulation, & Crime (C-BERC) at the University of Maryland is intended to provide post-baccalaureate training and knowledge in the interdisciplinary fields of business law, ethics, criminology, and accounting. This program, along with the Center for the Study of Business Ethics, Regulation, & Crime, is a joint effort between the College of Behavioral and Social Sciences and the Robert H. Smith School of Business.
GC-RCL will focus on forensic audit investigations, software utilization as applied to discerning potentially fraudulent activity, and a detailed understanding of businesses’ legal obligations and the origin and consequences of non-compliance. The program will provide recent business and behavioral and social science undergraduate students and current attorneys and compliance officers an opportunity to gain a specific skill set and knowledge base including being able to understand and effectively implement the latest developments in empirically supported compliance strategies, investigation and audit practices (including the use of sophisticated software packages and statistical analysis to identify reporting and data aberrations).
Tuition for each course is $3,000.
Courses are offered online quarterly, so the sequence of courses can be completed in one year. The program has four-course requirements with business crime/regulation as a common theme.
CHARACTERISTICS OF THE PROGRAM
The Graduate Certificate of Professional Studies in Risk, Compliance, and the Law (GC-RCL) offers post-baccalaureate training and knowledge focused on forensic audit investigations, software utilization as applied to discerning potentially fraudulent activity, and a detailed understanding of businesses’ legal obligations and the origin and consequences of non-compliance. This training includes a broad foundation on accounting and forensic auditing, legal and regulatory compliance, theories and empirical research on white-collar crime and the victimization of business, and exposure to techniques that electronically capture and integrate data from a variety of different sources to assist managerial decision-making in such areas as fraud detection. GC-RAC is designed to build an interdisciplinary knowledge base and skill set drawing from accounting, criminology, law, and statistics that will translate into career opportunities for recent business and behavioral/social science undergraduates and provide additional training for compliance officers and attorneys who already work in business and/or auditing settings. Graduates will be able to understand and effectively implement the latest developments in empirically supported compliance strategies, investigation and audit practices (including the use of sophisticated software packages and statistical analysis to identify reporting and data aberrations). They will also learn about corporate ethical and legal obligations, both domestically and internationally; strategies to meet and maintain compliance; how to conduct investigations and attorney-client privilege.
As part of this program, lectures and will be delivered across the Internet using online technology. On occasion, students may attend online lectures in real time via the use of webcams and headsets with microphones. Additionally, some courses in this program will be project-based, enabling the students to apply their skills in real time on real-life business problems. Online lectures (lecture slides, presentation, and Q&A interactions) are video-archived for reviewing.
PROGRAM REQUIREMENTS, COMPLETION, AND LIST OF COURSES
The Graduate Certificate of Professional Studies in Risk, Compliance, and the Law (GC-RCL) will be offered in a four-term format with each term lasting 12 weeks and students may complete the program in one year.
The history, definitions, categories and trends of white collar crime within the U.S. and globally. The corporation as offender and the corporation as victim; Data sources and measurement; Theories of offending and victimization; Costs of crime, correlates of crime, and risks; Internal compliance systems; Enforcement strategies (deterrence/compliance); responsive regulation; enforcement pyramid; Policy assessment.
Accounting and Its Uses in the Forensic Process, 3 credits
Faculty: David Weber
This course will explore ways that accounting is used in forensic examinations. The course will begin with an introduction to accounting for the uninitiated. Topics covered in the introduction may include: an introduction to bookkeeping, key accounts, financial statements and their composition, and concepts in managerial accounting. The course will then cover principles of forensic accounting and the use of financial statement analysis in the forensic process. Topics covered in forensic accounting may include the following: Common fraud schemes in the areas of fraudulent financial reporting, misappropriation of resources, corruption and illegal acts; How fraud schemes typically appear in the accounting records and financial statements of an enterprise or agency; The use of financial statement analysis and analytics to detect fraud; Differences between a routine financial statement audit and a forensic audit; The limitations on financial statement audits in the discovery of fraud; How budgeting issues in managerial accounting can pressure managers to act unethically or illegally. Course participants will study both cases and problems related to forensic accounting.
Legal and Regulatory Compliance, 3 credits
Faculty: David Weber
This course will explore fundamental compliance principles. Topics to be covered may include the following: global anti-corruption law (including the Foreign Corrupt Practices Act, the UK Bribery Act, the OECD’s Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, Canada’s Corruption of Public Officials Act, and the Inter-American Convention Against Corruption); Sarbanes-Oxley compliance (including certification requirements, whistleblower protection, and audit committees); financial integrity (including money laundering, insider trading, market manipulation, conflicts of interest, and privacy); and internal investigations/attorney-client privilege. Because the scope of compliance is not limited to corruption and financial integrity, the course may include compliance issues in the following additional subject areas: antitrust, food and drug, environmental, occupational safety and health, and/or others.
Investigative Tools and Data Analysis, 3 credits
Techniques to electronically capture and integrate data from a variety of different sources aimed to assist managerial decision-making in such areas as fraud detection. Focus on large datasets for data mining/machine learning tools for classifications (such as decision trees, neural networks, techniques to recognize patterns in the data and regression modeling and statistics to aid prediction). Learning and utilizing appropriate software (e.g., XLMiner). Computer-aided analysis techniques for detecting and investigating white-collar offenses, issues related to the collective use of digital evidence and the collection of data from electronic devices. Extensive use of case studies as examples.