Many costly fraudulent schemes have occurred repeatedly throughout the past several decades. Why do these material and frequently recurring frauds succeed? One reason is that business owners, management, auditors, and employees fail to recognize the red flags that have been associated with these financial statement and misappropriation of asset frauds. Another major reason is that the reporting and transaction processing systems do not have adequate controls to either prevent and/ or detect these schemes. Find out how these major frauds are perpetrated (including real-world examples) and the types of cost-effective controls that can be implemented to identify and prevent these deceptive acts.
DESIGNED FOR
Business owners, managers, supervisors, employees, accountants and auditors.
BENEFITS
- Identify the findings and implications of major fraud studies
- Identify the risk factors and red flags for each of the top ten fraud schemes
- Determine design controls into systems to mitigate these fraud risks
- Distinguish the methodology of how these frauds are committed
- Identify trends in various types of fraud
HIGHLIGHTS
- Major financial statement frauds, including, corruption conspiracies regarding sales and other types of revenue, estimates, journal entries, and other accounts
- Major misappropriation of asset frauds, including skimming, larceny and embezzlement involving inventory, payables and other accounts
- Ponzi and asset flip schemes
- Control implementation ideas
- Risk factors in accordance with the revised authoritative guidance on fraud
PREREQUISITES
Experience in accounting and reporting.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- *AICPA members deduct an additional $30 from applicable price.
Course materials are distributed electronically. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.