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Loscalzo's Accounts Payable Fraud: Overlooked Schemes & How to Detect and Prevent Them (FRAUDAP14)
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Learn how to identify varieties of AP-related fraud schemes and determine how shrewd insiders abuse the AP process to embezzle funds for years before being detected — and how to shorten the time before discovery. The program will enable them to quickly recognize the red flags of AP fraud in a client’s operations and financial records and will assist them in providing cost-effective anti-fraud controls to protect against the growing army of fraudsters both inside and outside their organizations.

10/21/2014
When: 10/21/2014
8:30 AM until 4:30 PM
Where: Holiday Inn
4848 Constitution Ave.
Baton Rouge, Louisiana  70808
Presenter: Barry Smith


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Accounts payable (AP) fraud is widely overlooked and underestimated as a costly threat to ALL organizations. Businesses suffer hundreds of thousands of dollars of loss every time an insider commits fraud, according to the Association of Certified Fraud Examiners. More disturbing: Billing schemes are by far the most common frauds threatening smaller companies, making up nearly one-third of the total. Adding to the problem, check fraud is rising at a rate of 25% per year and criminals are coming up with new high-tech ways of hijacking corporate ACH (Automated Clearing House) accounts.

 

Participants will learn how to identify varieties of AP-related fraud schemes damaging organizations of all kinds, especially small businesses and nonprofits, and determine how shrewd insiders abuse the AP process to embezzle funds for years before being detected — and how to shorten the time before discovery. The program will enable them to quickly recognize the red flags of AP fraud in a client’s operations and financial records and will assist them in providing cost-effective anti-fraud controls to protect against the growing army of fraudsters both inside and outside their organizations.

 

Designed for: Accounting and audit practitioners, AP managers, senior financial management seeking to reduce their vulnerability to costly frauds in an economy where the risks and potentially losses from AP schemes are especially great.

 

Objectives:

Participants will be able to: 

  • Conduct a quick and cost-effective Fraud Risk Assessment for client AP operations
  • Implement effective AP fraud detection techniques and build audit practices to detect red flags of AP fraud
  • Implement best-practice Anti-Fraud Control strategies for AP
  • Advise management on fraud risk mitigation through transaction monitoring, technology/information tools and low-cost internal controls

 

Highlights:

  • Vendor/billing fraud schemes
  • Check fraud and tampering
  • ACH fraud
  • Fraudulent AP financial reporting
  • Kickbacks/bribery
  • Conflicts of interest
  • P-Card fraud
  • Red flags of AP fraud
  • Fraud risk assessment basics
  • Fraud detection/fraud audit
  • Anti-fraud control best practices

Requisite Knowledge: Basic familiarity with institutional/occupational fraud

 

Speaker: Barry Smith

Vendor: Loscalzo & Associates

CPE: 8
Category: Accounting & Auditing
Level: Intermediate

Registration Fees:

 

 

Members

CPA Non-Members

Early Bird (through 10/6)

$276

$376

Standard (after 10/6)

$326

$426

 

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