Fraud continues to plague businesses at epidemic levels and internal control omissions and failures are a large reason because of which fraud occurs.
SAS No. 122, AU 240, Consideration of Fraud In A Financial Statement Audit states that auditors fail to detect fraud for two basic reasons:
- They don’t know what fraud looks like.
- They don’t know how to look for a fraud.
Organizations are relying on accounting professionals like you for proactive fraud detection and prevention strategies. This presentation discusses the many indicators of fraud that the auditor should always be cognizant of and the audit procedures specifically designed to detect fraud. In addition, the concept of professional skepticism, how one obtains it and its importance in detecting fraud will also be discussed.
MAJOR TOPICS COVERED:
- Fraud’s cost – ACFE’s Report to the Nations; Ancillary costs
- Power of morale – Shrink the fraud triangle; Motivation
- Why good folks go bad
- Combating fraud with controls
- Fraud prevention checklists
Join this Webinar to stay up-to-date on the latest fraud schemes, as well as successful technologies and techniques for combating fraud before the financial loss hits home.