Objective
- Understand the prevalence of fraud
- Realize how organizations may cause fraud without realizing it
- Comprehend the cost of fraud
- See how the new COSO Framework for Internal Control focuses on fraud
- Understand the importance of the environment
- Recognize potential tipoffs to fraudulent behavior
- Comprehend information that indicates how some people respond differently to certain factors
- Understand that there are many layers in fraud defense
Highlights
- Fraud’s cost – ACFE’s Report to the Nations; Ancillary costs
- Current economy – Microeconomics; Analyses
- COSO’s Internal Control Framework – Principle #1 – Integrity/Ethics; Principle #8 – Fraud Risk Assessment; Errors & Irregularities – Does the auditor determine if fraud occurs?
- Power of morale – Shrink the fraud triangle; Motivation
- Deviant workplace behavior
- Historic schemes
- Why good folks go bad – What studies indicate; Five interesting findings; Red flags
- Combating fraud with controls
- Fraud prevention checklists
- The Dark Web
Designed For
CPAs in public practice and industry who wish to educate clients or colleagues on how to better prevent fraud from occurring at the source; and those who need discussion of controls used by fraud victim organizations and how to better implement and augmenPrerequisite
NoneAdvanced Preparation
None