The organization has to look above and beyond the financial impacts of fraud. Inventory fraud means the theft of inventory items and the falsification of inventory records on a company's financial statements. Small businesses are the main target where employees or businesses themselves may engage in fraudulent activities to trick shareholders and tax agencies. Inventory means raw materials, WIP stocks, or finished goods items kept at the company's storage facility. Inventory is considered one of the most valuable current assets of the entity's financial statements. It requires you to use various methods to measure and track inventory. Hence, the protection of inventory becomes essential for a company's growth. Well-timed fraud detection and prevention can save valuable time and money for your organization.
This CPE/CPD Auditing Webinar is designed to review the issue of inventory fraud. Examples of actual frauds will be provided so participants can understand how the frauds are being committed and how they were uncovered. We will review various methodologies for detecting inventory fraud and will discuss developing internal controls to help prevent and detect inventory fraud.
This online Fraud CPE Webinar covers the following key topics:
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.
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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.
TP
Great presenter however some of the initial slides in his presentation were from 2022 however the handout material was from 2016 so it needs to be updated to match the video presentation. Otherwise, great training.
NW
This is my second or third time listening to this webinar. I am an Asset Based Lending Examiner and the topics discussed in this webinar directly relates to my job function when auditing the collateral.
JB
This is a great course; I am amazed at how lax most companies are at developing control environments and often when identified there is no consequences to the wrong doers.
KD
A really good overview of inventory risks and controls. The presenter, always makes it interesting and engaging.
DW
The only thing I noticed is the slides used in the presentation were different than the handout.
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