Seminar Course Description

Fraud Update: Detecting and Preventing the Top Ten Fraud Schemes

Locations

CITY STATE DATES OFFERED STATE SOCIETY WEBSITE
Phoenix Arizona Jul 16, 2020 ASCPA
Little Rock Arkansas Oct 19, 2020 ARCPA
Atlanta Georgia Oct 21, 2020 GSCPA
Atlanta Georgia Nov 04, 2020 GSCPA
Savannah Georgia Dec 10, 2020 GSCPA
Naperville Illinois Jul 23, 2020 ICPAS
South Bend Indiana Oct 20, 2020 INCPAS
Indianapolis Indiana Nov 06, 2020 INCPAS
Louisville Kentucky Jun 04, 2020 KYCPA
Kenner Louisiana Nov 06, 2020 LCPA
Baton Rouge Louisiana Nov 18, 2020 LCPA
Livonia Michigan May 22, 2020 MICPA
Ridgeland Mississippi Sep 29, 2020 MSCPA
Ridgeland Mississippi May 20, 2020 MSCPA
Biloxi Mississippi Jun 12, 2020 MSCPA
Tupelo Mississippi Jun 18, 2020 MSCPA
New Jersey Jul 22, 2020 NJCPA
New York City New York Sep 30, 2020 NYSSCPA
New York City New York Dec 22, 2020 NYSSCPA
Morrisville North Carolina Dec 16, 2020 NCACPA
Brentwood Tennessee Aug 25, 2020 TSCPA
Salt Lake City Utah Nov 18, 2020 UACPA
Richmond Virginia Oct 19, 2020 VSCPA

Many costly fraudulent schemes have occurred repeatedly throughout the past several decades. Why do these material and frequently recurring frauds succeed? One reason is that business owners, management, auditors, and employees fail to recognize the red flags that have been associated with these financial statement and misappropriation of asset frauds. Another major reason is that the reporting and transaction processing systems do not have adequate controls to either prevent and/or detect these schemes. This course will provide descriptions of how these major frauds are perpetrated (including real-world examples) and the types of cost-effective controls that can be implemented by both small and large businesses and nonprofit entities to identify and prevent these deceptive acts.

Learning Objective

When you complete this course you will be able to:

  • Identify the findings and implications of major fraud studies.
  • Identify the risk factors and red flags for each of the top ten fraud schemes.
  • Determine design controls to build into systems to mitigate fraud risks.
  • Distinguish the methodology of how frauds are committed.
  • Identify trends in various types of fraud.

Topics Dicussed

  • Major financial statement frauds including, among others, corruption conspiracies regarding sales and other types of revenue, estimates, journal entries, and other accounts
  • Major misappropriation of asset frauds including, among others, skimming, larceny, and embezzlement involving inventory, payables, and other accounts
  • Ponzi and asset flip schemes
  • Control implementation ideas
  • Risk factors in accordance with the revised authoritative guidance on fraud
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COURSE CODE

TTFS

FIELD OF STUDY

  • Auditing

CPE CREDIT HOURS

8

KNOWLEDGE LEVEL

Intermediate

INTENDED AUDIENCE

Business owners, managers, supervisors, employees, accountants, and auditors

PREREQUISITE

Experience in accounting and reporting

ADVANCED PREPARATION

None

DELIVERY METHOD

Group Live

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Contact State Societies for Public Seminar Pricing and Additional Information

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