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Fraud Trends: Applying Real-life Lessons to Small- and Mid-Size Entities

  • Accountant
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • CBA/MCBA

Published: May, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • International standards on auditing definition
    3 mins
  • Typical fraud resolution
    17 mins
  • Median duration of fraud schemes before detection & resulting loss
    35 mins
  • Top fraud concealment schemes
    56 mins
  • Social engineering or phishing
    84 mins
  • Top asset misappropriation schemes by occurrence
    122 mins
  • Detection method - Percentage of occurrence
    151 mins
  • Other social engineering points
    183 mins

Course Description

Fraud involves an intentional act to deceive, which may result in a material misstatement in the financial statements due to fraudulent financial reporting or misappropriation of assets. Management’s responsibility is to design, implement, maintain and monitor a system of internal control to prevent, or detect and correct, fraud. 

It is estimated that organizations may lose up to 5% of revenues due to fraud. As our operating environment constantly shifts, so do the trends with fraud schemes. 

According to a study conducted by the Association of Certified Fraud Examiners (ACFE), fraudulent financial statement accounts for approximately 10% of incidents concerning white-collar crime. Asset misappropriation and corruption tend to occur at a much greater frequency, yet the financial impact of these latter crimes is much less severe.

This CPE course will give you the latest information to help organizations identify and mitigate shifting risks related to the misappropriation of assets and fraudulent financial reporting.

Major Topics Covered in this online CPE Auditing webinar:

  • Fraud Definitions.
  • Analysis of Victim Organizations.
  • Fraud Resolution.
  • Most Common Fraud Schemes.
  • Nature of Fraud Perpetrators.
  • Behavioral and Other Red Flags.
  • How Fraud is Detected?
  • Anti-Fraud Controls.
  • Focus on Management Oversight and Data Monitoring.
  • Focus on Cybercrime.
  • Virtual Account Access Risk Mitigation.

This CPE course will focus on real-life and practical examples of fraud in smaller and mid-size environments, including nonprofit.

If fraud prevention is one of your interested subjects, Certified Fraud Analyst might be interest you. 

Learning Objectives

  • To discuss the cause and impact of real-life fraud cases.
  • To explain what to be alert for in an audit to identify fraud potential.
  • To recognize various types of fraud and how they could apply to your clients.
  • To describe types of financial statement fraud and how they are committed.
  • To identify the top concealment method used by fraudsters.
  • To describe the three elements of fraud.
  • To identify a type of financial statement fraud related to improper revenue recognition.
  • To recognize and focus on real-life and practical examples of fraud in smaller- and mid-size environments, including nonprofits.

Recommended For

  • This Online CE/CPE Webinar is recommended for CPA, CIA, IAP, QIAL, CMA, CFF, CFE, CVA, CGFM, CBA/ MCBA, CRMA, CGAP, CFIRS, CWS, Internal Auditors, External Auditors, Accountants, and Other Professionals who want to focus on real-life and practical examples of fraud in smaller and mid-size environments, including nonprofits.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Auditors
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Forensic Auditor
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 4.5 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
  • 4.5 CPE Credit of Auditing for Certification in Risk Management Assurance (CRMA)
  • 4.5 CPD Credit of Fraud prevention, detection and response for Certified Financial Forensics (CFF)
  • 4.5 CPE Credit of Fraud Auditing and Forensic Accounting for Certified Fraud Examiner (CFE)
  • 4.5 CPE Credit of Auditing for Certified Government Auditing Professional (CGAP)
  • 4.5 CPE Credit of Auditing for Certified Government Financial Manager (CGFM)
  • 4.5 CPE Credit of Fraud risks for Certified Internal Auditors (CIA)
  • 4.5 CPE Credit of Auditing for Certified Management Accountants (CMA)
  • 4.5 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 4.5 CPE Credit of Fraud for Certified Valuation Analyst (CVA)
  • 4.5 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
  • 4.5 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
  • 4.5 CPE Credit of Fraud for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)

Additional details

  • Course Level :
    Basic
  • Credits :
    4.5
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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.

Presenter

About Presenter

Jennifer Louis, CPA (US)

President, Emergent Solutions Group LLC

Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.

About Company

Emergent Solutions Group LLC

www.emergentgroup.net

Emergent Solutions Group is highly rated in course design and instruction on a wide array of topics, including accounting, auditing, personal development, project management, practice management, and more. Our Services includes : 

1. Developing High-Caliber, Cost-Effective Training Content

2. Revamping or Customizing Existing Training Offerings

3. "On-Call” Instructing and Speaking

4. Training the Trainer

Faq

FAQs content

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