Overview

Despite the best efforts of the professional community, significant frauds continue to occur. It seems that the fraudsters are always one step ahead. Therefore, the key to preventing frauds from occurring or detecting them if they occur is to learn the right lessons from previous frauds and to identify how to apply these lessons going forward. Each quarter, this course will dissect recent and other related frauds that have occurred in a variety of industries. It will explore how the fraud occurred, the warning signs of the fraud, and what controls broke down to let the fraud occur. We will also examine regulatory responses and enforcement activities related to the fraudulent activity. Lastly, the course will emphasize the lessons that we all need to learn to ensure that similar frauds do not happen again. Ensure history doesn’t repeat itself by learning the right lessons from the past. This course will help you with that learning process.

Major Topics:

• Recent frauds involving asset misappropriation and fraudulent financial reporting
• Breakdowns in controls that allowed the fraud to occur
• Effective fraud prevention controls
• Best practices in preventing and detecting fraud
• Professional requirements related to fraud detection

Learning Objectives

• Identify recent fraudulent activity and its causes
• Recall the internal control breakdowns related to recent fraudulent activity
• Identify appropriate controls to prevent or detect fraud
• Identify best practices in fraud prevention and detection

Designed for:

All financial professionals interested in preventing and detecting fraud

Prerequisite:

Experience in accounting or auditing

Advanced Preparation:

None