Description

The focus of this course is reducing the overall risk of fraud. To that end, instruction will cover the factors that play a role in turning honest employees into fraudsters. Discussion will touch on integrity and ethics, as well as how the reactions of people in certain situations may impact the prevalence of fraud. The course will also explore the dark net and cryptocurrency fraud.

Instructor: Frank Gorrell, MSA, CPA, CGMA

Target Audience

CPAs in public practice and industry who wish to educate clients or colleagues on preventing fraud from occurring at the source

Course Objectives

Recognize the prevalence of fraud

Understand the ways an organization may unintentionally cause fraud

Identify the costs of fraud

Comprehend how the new COSO framework for internal control focuses on fraud

Grasp the importance of an internal control environment

Understand how people may respond differently to certain factors

See that there are many layers involved in fraud defense

Subjects

The price of fraud – ACFE’s Report to the Nations and ancillary costs

The current economy – microeconomics and analysis

COSO internal control framework, particularly Principle 1 (integrity/ethics) and Principle 8 (fraud risk assessments)

Power of morale – shrinking the fraud triangle and employee motivation

Why good folks go bad – interesting findings and red flags