CCCB
FRAUD: CATCHING THE CROOKS WHO COOK THE BOOKS
Fraud is
a growing problem that costs the U.S. hundreds of billions of dollars
each year. The purpose of this course is to help participants understand
the nature of fraud, profile who commits it and why, and learn how to
prevent it from occurring and detect it when it does occur.
Major topics include:
- Nature and
elements of a typical fraud.
- Types of fraud:
fraudulent financial reporting, misappropriation of assets, vendor fraud,
customer fraud, and investment fraud.
- Who commits fraud:
profile of the typical fraud perpetrator.
- Social forces contributing
to fraud.
- Three-step fraud
process: commit, conceal, convert to personal use.
- Why fraud occurs:
fraud triangle of pressures, opportunities, and lack of personal integrity.
- The pressures that
motivate fraud.
- Opportunities that
allow fraud to occur.
- Rationalizations
that allow perpetrators to excuse their lack of integrity.
- Fraud prevention:
a three-pronged approach.
- Minimizing
financial, work-related,
and lifestyle pressures that motivate fraud,
- Minimizing
opportunities that allow fraud to occur,
- Maximizing
personal integrity.
- How
fraud symptoms can help alert individuals when a fraud has occurred.
- Fraud-symptom categories
(financial statement, unusual relationships, accounting, organizational,
related party, outsider relationships, internal control, personal conduct,
informant, lifestyle, and corporate culture).
- Specific fraud
symptoms and examples of how they can tip-off the presence of fraud.
- Fraud-detection
techniques.
- The collapse of
Enron, World Com, Adelphia, etc.
- The Sarbanes-Oxley
Act of 2002
- SAS 99
Many real
live cases of fraud are used to illustrate its concepts and preventative
applications.
Designed for: Anyone
interested in learning how to prevent or detect frauds of all types. Fraud
is a problem that affects all companies, no matter what their size or
makeup. Therefore, this course is applicable to all areas of practice;
all sizes of firms including corporate, public accounting, and governmental
firms; and accountants of all levels.
Level of knowledge:
Basic
Field
of study: Auditing
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