Webcast: The Most Common Financial Statement & Asset Fraud Schemes (XACL4TTFS118)
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Many costly fraudulent schemes have occurred repeatedly throughout the past several decades. Why do these material fraud schemes continue to succeed? This webcast provides descriptions of how the most common types of financial statement and misappropriation of asset fraud schemes are detected. Cost-effective internal controls which can be implemented to prevent these schemes are provided in the webcast along with classic and contemporary real-world fraud cases reviewed in detail to reinforce...

2/22/2018
When: 02/22/2018
12:00 PM until 4:00 PM
Where: Webcast
AICPA
1404907:4E07394DB2A424C549FB1D483D40D1D1
United States
Presenter: TBA


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Acronym XACL4TTFS118
CPE 4 hours
Vendor AICPA
Category
A&A
Level Intermediate
Prerequisite None
Adv Prep None
Yellow Book? No
Registration Fees
Members* $159
CPA Non-Members $199

*The member rate applies to LCPA members, other state CPA society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

Many costly fraudulent schemes have occurred repeatedly throughout the past several decades. Why do these material fraud schemes continue to succeed? This webcast provides descriptions of how the most common types of financial statement and misappropriation of asset fraud schemes are detected. Cost-effective internal controls which can be implemented to prevent these schemes are provided in the webcast along with classic and contemporary real-world fraud cases reviewed in detail to reinforce how these schemes are perpetrated due to internal control failures and other factors. Red flags that might possibly be indicative of these fraud schemes are addressed.

Objectives

  • Identify the schemes used to misstate revenue, inventory, asset overstatements, estimates, and other accounts.
  • Distinguish suspicious journal entries.
  • Determine the red flags associated with fraud schemes concerning revenue, inventory, asset overstatements, estimates, and other accounts.
  • Apply analytical procedures to detect various types of fraud.
  • Compare particular fraud schemes to landmark cases.

Major Topics

  • Major financial statement frauds including, among others, sales and other types of revenue, estimates, journal entries and other accounts
  • Major misappropriation of asset fraud schemes including skimming, larceny, and additional schemes that occur in inventory, payables and other accounts
  • Review of landmark cases where the fraud scheme(s) occurred: WorldCom, Phar-Mor, McKesson and Robbins, Waste Management, MiniScribe, Stew Leonard and others

Note: Login instructions will be provided by the webcast vendor (AICPA).