This highly interactive two day seminar on fraud detection and prevention will:
- Review fraud schemes used to commit financial statement fraud and misappropriate assets from organizations.
- Discuss fraud schemes committed by employees, customers, vendors, management, and outsiders.
- Review various internal controls that can help prevent and detect these types of fraud.
- Explain the procedures for performing a risk assessment for fraud .
- Present case studies of specific frauds that cover how the fraud occurred, how the fraud was discovered, and what could have been done to prevent the fraud from occurring.
This course will focus on the following topics:
- Asset misappropriation schemes
- Financial statement fraud schemes
- Internal controls designed to prevent fraud
- Internal controls designed to detect fraud
- Occupational fraud
- Customer fraud
- Vendor fraud
- Fraud prevention
- Fraud investigations
- Fraud risk assessment
Upon completing this course on fraud detection and prevention, participants will be able to:
- Review the concept of fraud and how it affects an organization.
- Examine various asset misappropriation schemes.
- Analyze various financial statement fraud schemes.
- Evaluate internal controls that can prevent fraud.
- Assess the effectiveness of internal controls designed to detect fraud.
- Develop an internal risk assessment for fraud.
- Discuss what should be done when fraud is suspected.
Who Will Benefit:
The Association of Certified Fraud Examiners estimates organizations lose approximately 5% of their revenue to occupational fraud and abuse on an annual basis for a global loss of 3.7 trillion dollars. The Association of Certified Fraud Examiners, in its 2014 Report to the Nations on Occupational Fraud and Abuse, indicated that organizations that have managers and employees attend regular training on fraud are less likely to be victims of fraud and will suffer fewer losses than organizations that do not provide fraud training. The industries that are most likely to be victimized by fraud are Banking, Financial Services, Governmental Entities, Manufacturing, Health Care, Education, Retail Businesses and Not-For-Profit Organizations. Anyone working in an accounting department or who is responsible for accounting transactions within an organization would learn how to identify various types of fraud. This includes personnel from accounting, sales, receiving, shipping, and management overseeing these activities. Following personnel will benefit from this seminar:
- Certified Public Accountants
- Certified Fraud Examiners
- Internal Auditors
- External Auditors
- Chief Financial Officers
- Accounting Managers