Construction Fraud: Ripped from the Headlines

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Construction Fraud: Ripped from the Headlines

Construction Audit Series

Reviewed

January, 2024

Denise Cicchella

Learning Objectives

To discuss construction audit.
To recognize fraud schemes common to the construction industry.
To discuss the latest cases that are being prosecuted today to understand the trends in construction fraud.
To analyze important strategies to ensure your projects are well controlled.

Course Description

The best way to tackle fraud is to learn from fraud that has occurred in the past.

Construction fraud refers to illegal business practices committed by individual contractors or contracting firms hired to renovate, repair, or (re)build residential properties.

Construction fraud in the residential sector may also be referred to as ‘home improvement scams.’ Construction fraud encompasses a range of issues, from shoddy work and using substandard materials to escalating project costs and over-billing.

Construction fraud often ends up costing the victim twice because apart from losing a significant amount to the fraudster—whose inferior work may cause damage to previously undamaged parts of a home—a legitimate firm may also have to be paid to bring the work up to standard or repair the damage.

In this CPE Audit Course, we will look at some of the cases in the headlines now. We will also talk about controls and other strategies to implement to prevent fraud from happening on your projects.

Key Topics Covered:

Fraud in the construction industry hits a 9-year high!
Remember the fraud triangle
Common frauds
Best detection method
How data analytics could have helped?

To access more webinars on Fraud, fraud detection, and fraud prevention CLICK HERE.

Overview

Fraud in the construction industry hits a 9 year high!

17 mins
Remember the fraud triangle

26 mins
Man arrested at Belfast airport over frauds in Fermanagh and Tyrone

34 mins
How data analytics could have helped?

54 mins
Missouri contractor charged with fraud for minority business claims

77 mins

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 CPD Credit of Audit and Assurance for CPA in Canada
2 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
2 CPE Credit of Fraud Risk Assessment for Certified Fraud Examiner (CFE)
2 CPE Credit of Auditing for Certified Management Accountants (CMA)
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 CPD Credit for Association of Chartered Certified Accountants (ACCA)
2 CPE Credit of Auditing for Certified Government Financial Manager (CGFM)
2 CPD Credit for Chartered Accountant - ICAEW
2 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
2 CPE Credit of Business Fraud and Deterrence for Master Analyst In Financial Forensics (MAFF)
2 CPE Credit of Auditing for Certified Internal Controls Auditor (CICA)
2 CPD Credit for Chartered Accountants - Scotland
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 CPD Credit for Chartered Accountants - Ireland (CAI)
2 CPD Credit for CPA - Ireland
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 Auditing for Certified Controls Specialist (CCS)

About Instructor

Denise Cicchella

Founder & CEO, Auspicium

Denise Cicchella is a recognized expert in construction audit, protecting owners from the overpayment of construction costs due to error, negligence or fraud.

Dense is a Certified Internal Auditor, Certified Fraud Examiner, Certified Construction Auditor, Project Management Professional and Fellow of the Life Management Institute. She holds an MBA in International Business from Fairleigh Dickinson University and a BBA in Accounting from Loyola University. She is the Founding President of the New York/New Jersey Chapter of the National Association of Construction Auditors. She has audited and led audit teams for small construction project as well as multi billion dollar projects.

She is an experienced trainer and can often be seen teaching domestically and internationally.

Additional Information

Duration

2 Hours

Course Level

Basic

Instructional Method

QAS Self Study

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

4.4

Excellent

Very Good

Average

Poor

Terrible

Jonathan Supernaw, CPA (US)

Great

Greg Adams, CGFM, CPA (US), Masters (Accountancy)

The class covers construction fraud as advertised. The second review question has the wrong answer.

CHL

Cheryl Hines Ladson, EA

Wow, this was interesting

Rick Frimmer, CPA (US), JD

Good material

Breanna Golez, CPA (US)

I really enjoyed this course. The presenter sound passionate about the topic. I really appreciated how the presenter also kept the audience engaged and asked questions.