The focus of this course is reducing the overall risk of fraud. To that end, instruction will cover the factors that play a role in turning honest employees into fraudsters. Discussion will touch on integrity and ethics, as well as how the reactions of people in certain situations may impact the prevalence of fraud.
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 - would-be fraudsters.
BENEFITS
- 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
- Recognize potential signs of fraudulent behavior
- Understand how people may respond differently to certain factors
- See that there are many layers involved in fraud defense
- Anticipate a new environment ripe for fraudulent claims and reports
HIGHLIGHTS
- The price of fraud – ACFE’s Report to the Nations and ancillary costs
- The current economy - microeconomics; analyses
- COSO’s internal control framework – Principle #1 – integrity/ethics; Principle #8 – fraud risk assessment
- Power of morale Shrink the fraud triangle and employee motivation
- Deviant workplace behavior
- Historic schemes
- Why good folks go bad - interesting findings and red flags
- Combating fraud with controls
- Controls used by fraud victim organizations and suggestions for better implementation
- Fraud’s new frontier
- Corporate social, environmental, governance, and equity/inclusion reports and audits
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None