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Overview

8.0 Credits
ONLINE

Discuss how significant frauds are perpetrated, including real-world examples, and the types of cost-effective controls that can be implemented by both small and large businesses and nonprofit entities to identify and prevent these deceptive acts.

Objectives

  • 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 to build into systems to mitigate fraud risks.
  • Distinguish the methodology of how frauds are committed.
  • Identify trends in various types of fraud.

Major Topics

  • Major financial statement frauds including, among others, corruption conspiracies regarding sales and other types of revenue, estimates, journal entries, and other accounts
  • Major misappropriation of asset frauds including, among others, 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

Prerequisite

Experience in accounting and reporting

Advanced Preparation

None

Sessions

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Wednesday, November 4, 2020

General Sessions