Fraud Schemes - Identification and Prevention ON DEMAND
Available Until
Your Desk
3.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
This is a comprehensive course designed for finance professionals, focusing on the identification and prevention of various fraud types that can impact businesses. The fraud CPE course features detailed explorations of employee fraud schemes, financial statement fraud, and outsider fraud activities, with an emphasis on practical application. You will benefit from learning how to recognize and address specific fraud tactics, such as falsified expense reports, bid-rigging, and stock option backdating. The fraud CPE also covers techniques for detecting and preventing balance sheet manipulations and bust-out scams, crucial for maintaining the integrity of financial reporting. By understanding these schemes and their indicators, you’ll be better equipped to establish effective controls within your organization, significantly reducing the risk of financial loss due to fraud.
Highlights
Fraud schemes by employees. Financial statement fraud schemes. Fraud schemes by outsiders.
Prerequisites
None.
Designed For
CPAs, auditors, accountants, controllers, and financial professionals.
Objectives
Identify the characteristics of each type of employee fraud scheme. Recognize the methods used by employees to falsify their expense reports. Recognize the techniques used to artificially assist suppliers in winning bids. Specify how a payables clerk can obtain a valid signature on a check intended for personal use. Describe how stock option backdating can benefit employees. Identify the tools available to a management team that wants to inflate sales. Specify how the reported asset balances in the balance sheet can be artificially altered. Point out the circumstances in which a management team is more tempted to set up a large loss reserve. Recognize the methods available for using fixed assets to alter reported expense levels. Identify the methods available for falsely reducing reported liability levels. Describe the reasons why cash flows may be mis-reported. Specify the possible indicators of application fraud. Describe the controls that can be used to mitigate the effects of outsider fraud schemes. Cite the underlying mechanics of a bust-out scam. Point out the indicators of a possible money laundering scheme.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00