How are fraud schemes perpetrated? How much is stolen? How can you prevent and detect these schemes? These questions are answered by a review of landmark fraud studies – including those conducted by the Committee of Sponsoring Organizations (COSO), the Association of Certified Fraud Examiners (ACFE), and large CPA firms, to name a few. Based on these studies, we will provide you with a list of the Top Ten Fraud Schemes. In this webcast, you will investigate fraud red flags for non-traditional schemes. The categories of non-traditional fraud schemes include corruption, Ponzi and Asset Flip. These are not usually addressed in traditional fraud courses, but many organizations have experienced significant financial losses due to these schemes. We will also address issues concerning non-traditional schemes to prevent you from facing similar financial losses. Real-world cases will reinforce these concepts of scheme methodology, related red flags and internal controls.
When you complete this webcast, you will be able to:
– Identify the findings and implications of major fraud studies. C1
– Identify red flags associated with various types of fraud schemes. C2
– Apply preventive and detective controls concerning non-traditional fraud schemes.
– Recognize the characteristics, similarities and differences between Ponzi, Asset Flip and corruption schemes. C7
– Distinguish a particular fraud scheme to specific landmark cases.
– In-depth review of classic and recent non-traditional fraud cases: ZeekRewards, Yelp and others
– Results of recent notable fraud studies
– Conflicts of Interest and other policies
– Distinctions between Ponzi and Pyramid schemes
– Conflicts of interest (purchasing and sales schemes), Bribery (kickbacks and bid rigging), Ponzi and other schemes
– SEC Response to Madoff Ponzi Scheme
Experience in accounting and reporting