Objective
- Recognize the prevalence of fraud
- Understand the ways an organization may unintentionally cause fraud
- Identify the costs of fraud
- Comprehend how the new COSO framework for internal control focuses on fraud
- Grasp the importance of an internal control environment
- Understand how people may respond differently to certain factors
- See that there are many layers involved in fraud defense
Highlights
- The price of fraud – ACFE’s Report to the Nations and ancillary costs
- The current economy – microeconomics and analysis
- COSO internal control framework, particularly Principle 1 (integrity/ethics) and Principle 8 (fraud risk assessments)
- Power of morale – shrinking the fraud triangle and employee motivation
- Why good folks go bad – interesting findings and red flags
Designed For
CPAs in public practice and industry who wish to educate clients or colleagues on preventing fraud from occurring at the sourcePrerequisite
NoneAdvanced Preparation
None