Webcast: The Most Common Financial Statement & Asset Fraud Schemes: Detect & Prevent (XATTFS317)
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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? Is this due to failures of properly designed internal controls? Could the internal controls be adequate but not complied with? This course provides descriptions of how the most common types of financial statement and misappropriation of asset fraud schemes are detected. Cost-effective internal controls that can be implemented to prevent these schem

 Export to Your Calendar 9/13/2017
When: 09/13/2017
12:00 PM until 4:00 PM
Where: Webcast
AICPA
1370751:2F55839AE191364B4E97146A2A3077A9
United States
Presenter: Glenn L. Helms, Ph.D., CPA, CISA, CIA, CFF, CITP


Online registration is available until: 9/11/2017
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Acronym XATTFS317
CPE 4 hours
Vendor AICPA
Category
Auditing
Level Intermediate
Prerequisite Experience in accounting and reporting
Adv Prep None
Yellow Book? No
Designed for Business owners, managers, supervisors, employees, accountants and auditors
Registration
Member $159
CPA Non-Member $199

The Member rate applies to LCPA members, other state 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? Is this due to failures of properly designed internal controls? Could the internal controls be adequate but not complied with? This course provides descriptions of how the most common types of financial statement and misappropriation of asset fraud schemes are detected. Cost-effective internal controls that can be implemented to prevent these schemes are provided. Classic and contemporary real-world fraud cases are reviewed in detail to reinforce how these schemes are perpetrated, both due to internal control failures and other factors. Red flags that might possibly be indicative of these fraud schemes are addressed.

TOPICS DISCUSSED

  • 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

Objectives
When you complete this course you will be able to:

  • 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.