Early Bird Fees (through 12/9)
After 12/9, add $50 to your fee.
CPE: 4 hours
Category: Accounting & Auditing
Prerequisites: Experience in accounting and reporting
Advanced prep: None
Who should attend: Business owners, managers, supervisors, employees, accountants and auditors
How are fraud schemes perpetrated? Who does it? How much is stolen? What controls can be installed to prevent and detect these schemes? These and other questions are answered by a review of landmark fraud studies - including those conducted by the Committee of Sponsoring Organizations (COSO), the Association of Certified Fraud Examiners (ACFE), large CPA firms, and others. A list of the Top Ten Fraud Schemes, based upon these studies, is provided.
Fraud red flags for non-traditional schemes will also be addressed. The categories of non-traditional fraud schemes include corruption, Ponzi, and Asset Flip schemes. These non-traditional fraud schemes are not usually addressed in traditional fraud courses. However, numerous entities have incurred significant financial losses as a result of these schemes and issues concerning these schemes need to be addressed to prevent financial losses. These schemes methodologies, related red flags and internal controls to prevent and detect these schemes are addressed in detail. Real-world cases are provided to reinforce concepts.
- Recognize red flags associated with non-traditional fraud schemes.
- Install preventive and detective controls concerning non-traditional fraud schemes.
- Identify the elements of Ponzi, Asset Flip, and corruption schemes.
- Relate a particular fraud scheme to specific landmark cases.
- Synthesize the research findings from various fraud studies.
- In-depth review of classic and recent non-traditional fraud cases: ZeekRewards, HealthSouth, Apple Computers, Yelp, and others
- Results of recent notable fraud studies
- Conflicts of Interest and other policies
- Distinctions between Ponzi and Pyramid schemes
- Conflicts of interest (purchasing and sales schemes), Bribery (kickbacks and bid rigging), Ponzi, and other schemes
- SEC Response to Madoff Ponzi Scheme