Employee Fraud: The Misappropriation of Assets

Welcome to myCPE

Learning Objectives

To analyze how to identify Employee Fraud Schemes.
To explain how to build the fraud audit program.
To identify Red Flags for Employee Fraud.
To explain Asset misappropriation fraud.
To analyze how to detect and prevent Asset misappropriation fraud.

Course Description

Organizations of all kinds and sizes are increasingly threatened by fraud. For example, 5% of all gross revenue is lost to fraud each year, according to the Association of Certified Fraud Examiners. Embezzlement, kickbacks, check fraud, financial statement fraud, and vendor billing schemes are just a few of the countless crimes committed by employees against organizations of all kinds and sizes.

Asset misappropriation fraud happens when people who are entrusted to manage the assets of an organization steal from it. It involves third parties or employees in an organization who abuse their position to steal from it through fraudulent activity. It can also be known as insider fraud. This type of fraud can be committed by company directors, employees, or anyone else entrusted to hold and manage the assets and interests of an organization.

In this CPE/CPD webinar, speaker Robert Minniti will explore many of the ways employees can commit fraud, especially the types of fraud that use documents to skirt internal controls. He will consider embezzlement schemes, and theft schemes (Cash, inventory, data, and fixed assets), and will examine how employees conceal these frauds. He will review the red flags for employee fraud. Real-world examples will be provided for the participants to see how this is occurring in the business world.

This online CPE Audit Course is designed for individuals who would like to refresh their understanding of employee fraud schemes and learn how to recognize the red flags for detecting employee fraud. Understanding how employees commit fraud is the first step in preventing fraud.

Key topics covered in this course are:

Definition of fraud
Fraud Research
Elements of Fraud
Examples of employee fraud
Behavioral Red Flags for Fraud
COSO Framework for Internal Control
Post Fraud Reactions
Consequences of Committing Fraud

Webinar Qualifies For

2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
2 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
2 CPE Credit of Fraud risks for Certified Internal Auditors (CIA)
2 CPE Credit of Fraud Risk Assessment for Certified Fraud Examiner (CFE)
2 PDC Credit of Business Acumen for SHRM Professionals (Approval No. 24-EC7PQ)
2 CPE Credit of Auditing for Certified Management Accountants (CMA)
2 RCH Credit of Business for Human Resource Certification Institute (HRCI) (Approval No. 649806)
2 CPE Credit of Auditing for Certification in Risk Management Assurance (CRMA)
2 CPD Credit of Fraud prevention, detection and response for Certified Financial Forensics (CFF)
2 CPE Credit of Auditing for Certified Government Financial Manager (CGFM)
2 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
2 CPE Credit of Auditing for Master Analyst In Financial Forensics (MAFF)
2 CPE Credit of Fraud Auditing and Forensic Accounting for Certified Internal Controls Auditor (CICA)
2 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
2 CPE Credit of Auditing for Iowa Licensed Public Accountant (IA-LPA)
2 CPE Credit of Auditing for Maine Licensed Public Accountant (ME-LPA)
2 CPE Credit of Auditing for Delaware Licensed Public Accountant (DE-LPA)
2 CPE Credit of Fraud Auditing and Forensic Accounting for Certified Controls Specialist (CCS)

About Instructor

Dr. Robert Minniti

President, Minniti CPA LLC

Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona. Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix.

He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College. He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, financial forecasting, and Sarbanes-Oxley compliance work. Dr. Minniti is an instructor teaching continuing professional education classes for the American Institute of Certified Public Accountants, Compliance Online, CPE Link/CCH . AccountingEd, Global Compliance Panel, Clear Law Institute, CPE Solutions, Canopy CPE, The Institute of Management Accountants, the National Association of Valuators and Analysts, the Association of Certified Fraud Examiners, the Institute of Internal Auditors, and various state CPA Societies.

Additional Information

Duration

2 Hours

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

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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.

Ratings and Review

4.5

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MBC

Mary Beth Carpenter, CIA

The webinar was great! I really enjoyed all of the statistics and the examples of employee fraud. I especially enjoyed the fake baby bump fraud! Thanks for making it interesting!

Chris Mccaslin, CPA (US)

MyCPE is a great convenient platform to keep up with the ever increasing amount of CPE required. The webinars are concise and applicable.

Millie Tutlam, CPA (US)

Excellent CPE with lots of updates. The presenter was knowledgeable and delivered the information effortlessly.

Linda Powell, CFE

Great course on employee fraud. I highly recommend this course because Dr. Minniti is very engaging.

Anthony Pomponio, CFE

Instructor does a great job of weaving in real life experiences as well as details

2 Credits

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Subject Area

Auditing

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Employee Fraud: The Misappropriation of Assets

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Dr. Robert Minniti

Other Details

Additional Information

2 Hours

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.5

Mary Beth Carpenter, CIA

Chris Mccaslin, CPA (US)

Millie Tutlam, CPA (US)

Linda Powell, CFE

Anthony Pomponio, CFE

Subject Area

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