Description

Two-thirds of small businesses will experience some form of employee fraud according to the Better Business Bureau. About 30% of business failures result from employee fraud. Current estimates indicate businesses lose 5% of their revenues to occupational fraud, and small businesses incur higher median losses when fraud occurs. Many businesses don't have adequate controls in place to prevent and detect fraud, often because of time, staff, or financial constraints. This session will discuss common frauds and fraudsters, and how to identify realistic ways for businesses to take steps to prevent becoming the next victim.

Presented by The Knowledge Institute, LLC

Instructor: Tracy Cooper, CPA

Target Audience

CEOs, Corporate Financial Leaders, business owners, Corporate Financial Managers, entrepreneurs, CFOs, Controllers, CPAs, Accountants, Board members, advisors, Consultants and the professionals who advise them, Internal Audit, CPAs in public.

Course Objectives

After attending this course, you will be able to...

• Identify a business fraud risk profile
• Create meaningful Internal Controls and monitoring those controls

Subjects

The major topics covered in this class include:

• Defining the problem - what are the key elements of Occupational Fraud?
• Requirements for internal controls - SOX, FCPA, SAS 115 as well as lenders, investors, regulatory bodies
• How to develop a risk profile for the organization and employees
• Addressing company culture
• Establishing specific controls targeting the business' risk
• Monitoring the culture, the staff and the controls for effectiveness

Prerequisites

At least six (6) months of professional financial statement analysis experience, or at least six (6) credit hours of corporate finance classwork at an accredited university.