Something Borrowed: Asset Misappropriation Schemes FLEXCAST

Overview

The ACFE, the Association of Certified Fraud Examiners, reports that 89% of fraud schemes fall within the category of Asset Misappropriation. This is the largest category of fraud with a median loss of $120,000. Understanding how these schemes operate, what areas to search for when encountering discrepancies, and how to detect, deter, and defeat asset misappropriation schemes are all discussed in this course. The student will learn about asset misappropriation schemes, fraudulent and forged documents, inventory fraud schemes and some actionable solutions to prevent and detect asset misappropriation.

Highlights

Asset misappropriation.

Prerequisites

None.

Designed For

CPAs and auditors.

Objectives

Identify and analyze common asset misappropriation schemes and their red flags, including their typical financial impact on organizations. Evaluate techniques used to create fraudulent and forged documents and demonstrate proficiency in detecting document manipulation. Examine specific inventory fraud schemes and their mechanisms for concealing theft or financial misstatement. Develop and implement effective internal control strategies to prevent, deter, and detect asset misappropriation. Design a practical response framework for investigating suspected asset misappropriation and mitigating future risk.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.