Common Frauds and Internal Controls for Prevention & Detection 4 Credits
Learning mode
“Fraud is committed by desperate people” and desperate individuals are not likely to be deterred by conventional internal controls. It is assumed by many that almost every entity is a victim of fraud and it is due purely to luck when they are not seriously hurt. Yet management is charged with the responsibility for effective and efficient operations, and for reliable financial reporting, neither of which will occur when an entity is affected by fraud.
An audit, meanwhile, is not designed to detect fraud and, unless it is particularly material, or the auditor is lucky and “trips” across it, a fraudulent act is not likely to be detected. Even Generally Accepted Auditing Standards indicate that an auditor has a very limited ability to detect fraud. One of the main reasons CPAs and other accountants often fail to detect fraud is that they are too honest. They find it difficult to think like a criminal.
This CPE course on Auditing is designed for individuals who would like to refresh their understanding of fraud schemes and to learn how to recognize the red flags for detecting fraud. Understanding how criminals commit fraud is the first step in preventing fraud.
Properly designed controls, however, can be effective fraud deterrents. An entity with a healthy “tone at the top”, combined with meaningful hiring policies and responsible management that is observant and that maintains a positive relationship with employees will often avoid becoming a victim to fraud and is likely, as a minimum, to avoid being adversely affected in a significant way.
Similarly, auditors that obtain a meaningful understanding of a client’s internal controls, perform an effective and well-designed assessment of the risk of material misstatement due to fraud, and conducts the engagement with an appropriate level of professional skepticism is more likely to detect a material misstatement to a client’s financial statements due to fraud.
Attendees in this CPE course will explore the different profiles of fraud perpetrators, the reasons they may commit fraud, and the most likely means of preventing it.
In a 2018 PwC survey, 49% of 7,228 organizations reported that they had experienced economic crime and fraud in the prior year—up from 30% of organizations in a 2009 survey—and that more than half the perpetrators were “internal actors.”
The topic of fraud —whether it relates to awareness and prevention techniques, fraud auditing, recent fraud in corporate, or the criminal mind is continually on the radar of investors, shareholders, and regulators. Yet the execution of holistic fraud risk assessments can often be a very difficult task.
This compelling CPE/CPD webinar on auditing will focus attention on the dynamics behind what makes a fraudster tick and how to use that knowledge to recognize fraudulent behavior.
| License details | Credits | Status |
|---|---|---|
| Auditing for Certified Public Accountants (CPA-US) | 4 CPE | Approved |
| Fraud and Risk Management for CPA in Canada | 4 CPD | Eligible |
| Fraud risks for Certified Internal Auditors (CIA) | 4 CPE | Eligible |
| Auditing for Delaware Licensed Public Accountant (DE-LPA) | 4 CPE | Eligible |
| Auditing for Internal Audit Practitioner (IAP) | 4 CPE | Eligible |
| Association of Chartered Certified Accountants (ACCA) | 4 CPD | Eligible |
| Chartered Accountant - ICAEW | 4 CPD | Eligible |
| Fraud Risk Assessment for Certified Fraud Examiner (CFE) | 4 CPE | Eligible |
| Certified Internal Controls Auditor (CICA) | 4 CPE | Eligible |
| Auditing for Master Analyst In Financial Forensics (MAFF) | 4 CPE | Eligible |
| Auditing for Qualification in Internal Audit Leadership (QIAL) | 4 CPE | Eligible |
| Risk-based Internal Audit for Certification in Risk Management Assurance (CRMA) | 4 CPE | Eligible |
| Auditing for Iowa Licensed Public Accountant (IA-LPA) | 4 CPE | Eligible |
| Auditing for Maine Licensed Public Accountant (ME-LPA) | 4 CPE | Eligible |
| Certified Controls Specialist (CCS) | 4 CPE | Eligible |
| Fraud prevention, detection and response for Certified Financial Forensics (CFF) | 4 CPD | Eligible |
| Detect and mitigate fraud for Certified Treasury Professional (CTP) | 4 CE | Eligible |
| CPA - Ireland | 4 CPD | Eligible |
| Chartered Accountants - Scotland | 4 CPD | Eligible |
| Chartered Accountants - Ireland (CAI) | 4 CPD | Eligible |
| License details | Credits | Status |
|---|---|---|
| Auditing for Certified Public Accountants (CPA-US) | 4 CPE | Approved |
| Fraud and Risk Management for CPA in Canada | 4 CPD | Eligible |
| Fraud risks for Certified Internal Auditors (CIA) | 4 CPE | Eligible |
| Auditing for Delaware Licensed Public Accountant (DE-LPA) | 4 CPE | Eligible |
| Auditing for Internal Audit Practitioner (IAP) | 4 CPE | Eligible |
| Association of Chartered Certified Accountants (ACCA) | 4 CPD | Eligible |
| Chartered Accountant - ICAEW | 4 CPD | Eligible |
| Fraud Risk Assessment for Certified Fraud Examiner (CFE) | 4 CPE | Eligible |
| Certified Internal Controls Auditor (CICA) | 4 CPE | Eligible |
| Auditing for Master Analyst In Financial Forensics (MAFF) | 4 CPE | Eligible |
| Auditing for Qualification in Internal Audit Leadership (QIAL) | 4 CPE | Eligible |
| Risk-based Internal Audit for Certification in Risk Management Assurance (CRMA) | 4 CPE | Eligible |
| Auditing for Iowa Licensed Public Accountant (IA-LPA) | 4 CPE | Eligible |
| Auditing for Maine Licensed Public Accountant (ME-LPA) | 4 CPE | Eligible |
| Certified Controls Specialist (CCS) | 4 CPE | Eligible |
| Fraud prevention, detection and response for Certified Financial Forensics (CFF) | 4 CPD | Eligible |
| Detect and mitigate fraud for Certified Treasury Professional (CTP) | 4 CE | Eligible |
| CPA - Ireland | 4 CPD | Eligible |
| Chartered Accountants - Scotland | 4 CPD | Eligible |
| Chartered Accountants - Ireland (CAI) | 4 CPD | Eligible |
| License details | Credits | Status |
|---|---|---|
| Auditing for Certified Public Accountants (CPA-US) | 4 CPE | Approved |
| Fraud and Risk Management for CPA in Canada | 4 CPD | Eligible |
| Fraud risks for Certified Internal Auditors (CIA) | 4 CPE | Eligible |
| Auditing for Delaware Licensed Public Accountant (DE-LPA) | 4 CPE | Eligible |
| Auditing for Internal Audit Practitioner (IAP) | 4 CPE | Eligible |
| Association of Chartered Certified Accountants (ACCA) | 4 CPD | Eligible |
| Chartered Accountant - ICAEW | 4 CPD | Eligible |
| Fraud Risk Assessment for Certified Fraud Examiner (CFE) | 4 CPE | Eligible |
| Certified Internal Controls Auditor (CICA) | 4 CPE | Eligible |
| Auditing for Master Analyst In Financial Forensics (MAFF) | 4 CPE | Eligible |
| Auditing for Qualification in Internal Audit Leadership (QIAL) | 4 CPE | Eligible |
| Risk-based Internal Audit for Certification in Risk Management Assurance (CRMA) | 4 CPE | Eligible |
| Auditing for Iowa Licensed Public Accountant (IA-LPA) | 4 CPE | Eligible |
| Auditing for Maine Licensed Public Accountant (ME-LPA) | 4 CPE | Eligible |
| Certified Controls Specialist (CCS) | 4 CPE | Eligible |
| Fraud prevention, detection and response for Certified Financial Forensics (CFF) | 4 CPD | Eligible |
| Detect and mitigate fraud for Certified Treasury Professional (CTP) | 4 CE | Eligible |
| CPA - Ireland | 4 CPD | Eligible |
| Chartered Accountants - Scotland | 4 CPD | Eligible |
| Chartered Accountants - Ireland (CAI) | 4 CPD | Eligible |
Credits
Course Level
Instructional Method
Pre-requisites
Advance Preparation
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.
Mark provides CPE and technical staff training for CPA firms, private industry, state CPA societies, and government organizations. His topics include accounting, SSARS, ethics, fraud, internal and external auditing, internal control development (COSO), entrepreneurship, and developing a business plan. Mark is in the process of initiating a new entity, The Internal Control Institute, which will be offering CPE and staff training related to internal controls, and in conjunction with professors from Claremont Graduate University, will be providing internal control consulting.
Mark is also an expert witness in the defense of CPAs in cases involving primarily ethics, fraud, and compliance with standards in the performance of professional services.
Mark also provides consulting services to CPA firms with an A & A practice that do not have an expert on GAAP or requirements of Professional Standards within the firm. He addresses such matters as conformity with GAAP, adequacy of disclosures, compliance with professional standards, risk assessment, development and performance of audit and review processes, engagement documentation, compilation and preparation engagements, ethics and independence requirements, assessing and enhancing internal controls for the firm and clients, preparation for peer review, and staff training and CPE. He also provides consulting services related to client management and marketing.
Mark’s public accounting experience includes working with Kenneth Leventhal & Company and more recently, he was a partner at NSBN, a Beverly Hills CPA and business consulting firm. Mark’s industry experience includes serving as assistant controller of a large trucking and warehousing firm along with controller and Vice President of Finance and Administration for major real estate development companies. Mark also spent nearly 30 years as an entrepreneur, operating a company that prepared individuals for the CPA exam nationwide.
Mark has been involved in accounting education at CSU Northridge, CSU San Bernardino, Loyola Marymount University and UCLA. He obtained his bachelor’s degree in accounting from CSU Northridge. He obtained his Executive MBA at the Peter Drucker and Masatoshi Ito School of Management at Claremont Graduate University, where he previously had been a student of Dr. Drucker’s. He also obtained an Internal Control Certificate from COSO. Until recently, he authored “Knowledge Based Preparation, Compilation, and Review Engagements” for CCH and updated their checklists for SSARS engagements. He also served as Senior Editor for Roger CPA Review.
Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.
To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.
Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.
To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.
After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.
To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
MM
Excellent instructor. I really appreciated the examples used, the spreadsheets shared, and the videos presented.
EM
The course material was excellent and the instructor was very good - I thoroughly enjoyed the course!
Dec 27, 10:00 AM ET
Dec 27, 12:00 PM ET
Dec 27, 12:30 PM ET
Dec 27, 03:00 PM ET
Dec 30, 09:30 AM ET
Dec 30, 10:00 AM ET
.webp)
Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.
Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.
Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.
Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.
The myCPE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.
Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.
This course is included with,
Gain access to everything required for compliance, skill enhancement, and staying ahead of industry trends—all included in the Individual subscription. Here’s what you get:
Pre-selected courses for quick compliance
Connect with like-minded professionals on Teams.
Trusted by 250,000+ Professionals
