FRAUD ESSENTIALS: WHO? HOW? WHY? WHAT?
You have completed only 0% of the video. Please continue watching the video.
Please don’t fast forward or alter the cursor of the video. You must watch entire video to get your CPE credits.

Before starting this self study progarm, please go through the Instructional Document.

Download

Course Details

Overview of Topics

  • Introduction2 mins
  • WHO COMMITS FRAUD?12 mins
  • HOW IS IT DONE?27 mins
  • WHY DO THEY DO IT?45 mins
  • WHAT CAN WE DO TO PREVENT OR DETECT IT?90 mins

Course Description

For decades, the Association of Certified Fraud Examiners has been estimating the amount that entities lose to fraud on an annual basis.  In their “Report to the Nations – 2020 Global Study on Occupational Fraud and Abuse”, it estimates that entities lose roughly 5% of their revenues to fraud, comparable to findings in earlier years.  Despite endless studies on why and how it occurs, the creation of systems or controls to prevent it, and development of internal reports to detect it, fraud continues to be a problem.

While many agree that it is a problem that will probably never be solved, there are approaches that may be more effective at mitigating it. This course looks at the profiles of the various types of fraud perpetrators, how it is committed, and the conditions under which it is likely to be successful.

This knowledge enables those responsible for the prevention or detection of fraud to establish different types of controls that will be more effective for different types of perpetrators, develop processes that make committing fraud more difficult, and modify the environment to avoid conditions that contribute to the success of fraudulent acts.

Any solution will involve the development of internal control activities, but it must be understood that conventional controls are rarely effective at fraud prevention. This course will identify the characteristics of controls that are more likely to be effective and provide examples of unconventional controls that have proven to be effective.

Highlights of the webinar :

  • Who commits fraud?
  • How is it done?
  • Why do they do it?
  • What can we do to prevent or detect it?

Webinar Qualifies for

  • 2 CPE credit of Auditing for all CPAs
  • 2 General Educational credit for Tax Professionals/Bookkeepers/Accountants

Learning objectives

  • To identify who commits fraud and how it is committed.
  • To identify the conditions under which fraud is more likely to occur successfully.
  • To recall the components of the COSO model of internal control and how they interact to prevent and detect fraud.
  • To recognize various ways for identifying vulnerabilities to fraud and finding the types of fraud preventive techniques that may be effective.
  • To recall various examples of unconventional controls effective at preventing fraud

About Presenter

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.

Mark Currently provides CPE and technical staff training for CPA firms, private industry employers of accountants, and government organizations on topics that include accounting, compilation and review, fraud, internal and external auditing, developing internal controls, strategic planning, and practice management.  He is also the Senior Editor for Roger CPA Review Course and authors CCH’s “Knowledge-Based Compilations and Reviews”.

Mark’s public accounting experience includes working with various local firms throughout high school and college, and employment with Kenneth Leventhal & Company. More recently, he was a partner at NSBN, a Beverly Hills CPA and business consulting firm, where he served as director of the audit practice and was responsible for recruiting, training, business development, quality control, and strategic planning for the firm. Mark’s industry experience includes serving as assistant controller of a large trucking and warehousing firm. He has been both a controller and the Vice President of Finance and Administration for major real estate development companies.  Mark also spent nearly 30 years as an entrepreneur, operating a business that prepared individuals for the CPA exam.

Mark taught his first university accounting class in 1969 and has been involved in accounting education since, most recently a visiting lecturer at California State University at San Bernardino.

Mark obtained his bachelor’s degree in accounting from California State University at 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.

Review Questions

  • Question 1 : 00:15
  • Question 2 : 00:30
  • Question 3 : 00:45
  • Question 4 : 01:05
  • Question 5 : 01:26
  • Question 6 : 01:38
  1. Who commits fraud to enhance lifestyle known as?
  2. How can you prevent and detect fraud?
  3. ___________________ is a defense mechanism in which controversial behaviors or feelings are justified and explained in a seemingly rational or logical manner to avoid the true explanation, and are made consciously tolerable—or even admirable and superior—by plausible means
  4. A person suffering from chronic mental disorder with abnormal or violent social behavior known as:
  5. What are the different types of corruption schemes?
  6. Which activities may raise Fraud?
  1. What is the characteristics of “White Collar” criminals?
  2. What is included in fraudulent statements?
  3. What is the full form of SEC?
  4. What is management responsibility to prevent fraud?
  5. Which is not behavioral warning signs?
  6. How to identify & evaluate weakness?
  7. What is included in asset misappropriation – cash?
  8. What is side effect of control activities?
  9. WCGW analysis means:
  10. What objectives are for establish internal control?

FAQ

  • myCPE self-study courses are online.
  • The self-study format allows you to access the material online 24/7 and study at your own pace.
  • As per NASBA guidelines, you have one year from date of registration to complete each program.
  • Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
  • Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
  • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.
  • These are Live recorded presentations converted into Self Study (On-Demand Videos).

Refund/Cancellation Policy

  • For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
  • Please email to   help@my-cpe.com  in case of any self study program queries.

Reviews

4.7
(33)
73%
24%
0%
3%
0%
  • AR
    ALBEE RICHARDSON , CPA
    Jul 22nd 2020
    This was a thought provoking seminar. Very useful in the real world. I rate this course very highly.
MQ
Mary Quillin , CPA
IT WAS A GREAT CLASS. THE TEACHER WAS ENTHUSIASTIC ABOUT THE TOPIC, WHICH MAKES THE CLASSES MORE ENGAGING. THANK YOU
JK
Jasman Khosa
Great webinar!
MB
MARLA BORGES
doing the best we can in the circumstances. I live events better but Mark is very good.

NASBA Approved

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 through its website: www.NASBARegistry.org.

On-Demand Webinars

2021 Annual Federal Tax Refresher Course
Wednesday, July 08, 2020 View Details/Register
Segment Reporting – A Detailed Review
Thursday, August 06, 2020 View Details/Register
Goodwill Impairment Testing
Thursday, August 06, 2020 View Details/Register
Segment Reporting Basics
Thursday, August 06, 2020 View Details/Register
Goodwill Impairment Basics (1 Hour)
Thursday, August 06, 2020 View Details/Register
Revenue – Five Steps to Recognition
Wednesday, July 29, 2020 View Details/Register
GUIDE TO DEPRECIATION UNDER THE TCJA
Wednesday, July 29, 2020 View Details/Register
PAYROLL FRAUD INFORMATION AND DISCUSSION
Wednesday, July 29, 2020 View Details/Register
Forecasting in a Time of Uncertainty (COVID-19)
Tuesday, July 28, 2020 View Details/Register
TAX IMPLICATIONS AND PLANNING DUE TO COVID-19
Tuesday, July 28, 2020 View Details/Register
UBIT Under The TCJA
Tuesday, July 28, 2020 View Details/Register
Tax Planning Under Tax Cuts & Job Act : 10 Tips to Reduce Taxes for your Clients
Tuesday, July 28, 2020 View Details/Register
Tax Consequences on the CARES Act – Overview of major tax issues from the CARES Act and related notice including planning tec
Monday, July 27, 2020 View Details/Register
CECL Overview
Monday, July 27, 2020 View Details/Register
Accounting for Business Combinations Overview
Monday, July 27, 2020 View Details/Register
  • Cost $20
  • CPE Credits 2
  • Subject Area Auditing
  • Course Level Basic
  • Instructional Method QAS Self Study
  • Prerequisites None
  • Advanced Preparation None
  • Recorded Date July 02 ,2020
  • Published Date July 02 ,2020
  • Who should attend? Enrolled Agent Bookkeeper Accountant Business Owner CPA - Small Firm CPA - Mid Size Firm CPA - Large Firm Accounting Firm CPA (Industry) CPA in Business CEO Bank Managers
  • Handout Material Download
  • Key Terms Download

On-Demand Webinars

2021 Annual Federal Tax Refresher Course
Wednesday, July 08, 2020 View Details/Register
Segment Reporting – A Detailed Review
Thursday, August 06, 2020 View Details/Register
Goodwill Impairment Testing
Thursday, August 06, 2020 View Details/Register
Segment Reporting Basics
Thursday, August 06, 2020 View Details/Register
Goodwill Impairment Basics (1 Hour)
Thursday, August 06, 2020 View Details/Register
Revenue – Five Steps to Recognition
Wednesday, July 29, 2020 View Details/Register
GUIDE TO DEPRECIATION UNDER THE TCJA
Wednesday, July 29, 2020 View Details/Register
PAYROLL FRAUD INFORMATION AND DISCUSSION
Wednesday, July 29, 2020 View Details/Register
Forecasting in a Time of Uncertainty (COVID-19)
Tuesday, July 28, 2020 View Details/Register
TAX IMPLICATIONS AND PLANNING DUE TO COVID-19
Tuesday, July 28, 2020 View Details/Register
UBIT Under The TCJA
Tuesday, July 28, 2020 View Details/Register
Tax Planning Under Tax Cuts & Job Act : 10 Tips to Reduce Taxes for your Clients
Tuesday, July 28, 2020 View Details/Register
Tax Consequences on the CARES Act – Overview of major tax issues from the CARES Act and related notice including planning tec
Monday, July 27, 2020 View Details/Register
CECL Overview
Monday, July 27, 2020 View Details/Register
Accounting for Business Combinations Overview
Monday, July 27, 2020 View Details/Register