Fraud: Recent Findings, Red Flags and Corruption Scheme

Description

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. This webcast covers fraud red flags for non-traditional schemes. 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.

Learning Objectives
  1. Identify the findings and implications of major fraud studies~
  2. Identify red flags associated with various types of fraud schemes~
  3. Apply preventive and detective controls concerning non-traditional fraud schemes~
  4. Recognize the characteristics, similarities and differences between Ponzi, Asset Flip, and corruption schemes~
  5. Distinguish a particular fraud scheme to specific landmark cases~
Major Topics
  1. In-depth review of classic and recent non-traditional fraud cases: ZeekRewards, Yelp, and others
  2. Results of recent notable fraud studies
  3. Conflicts of Interest and other policies
  4. Distinctions between Ponzi and Pyramid schemes
  5. Conflicts of interest (purchasing and sales schemes), Bribery (kickbacks and bid rigging), Ponzi, and other schemes
  6. SEC Response to Madoff Ponzi Scheme
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Accounting & Auditing
Business & Industry
CPE Field of Study
Auditing
4
Who Should Attend
Business owners, managers, supervisors, employees, accountants and auditors
Prerequisites
Experience in accounting and reporting
Location
Online Course
Register Now
When
Mar 13, 2018
1:00 pm - 5:00 pm
Total CPE Credits
4
Format
Webcast

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Fraud: Recent Findings, Red Flags and Corruption Scheme


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