Description

This event is a rebroadcast of a live event.  

CASE STUDY -- Whether you are a seasoned executive or a staff professional, we all have seen the damage from a crisis and 'unexpected' trouble. Ignoring potential issues is inane in today's environment. Leaders prevent problems. We will discuss how to prepare for and deal with a crisis, proven strategies to detect scams, and how to thoroughly investigate fraud: There is a right way and a wrong way. Additionally, what is artificial intelligence, how will it change the finance function, and what new skills must we develop? Trouble is everywhere, it is best to plan in advance rather than attempt to not fall further behind. Those who are prepared are always more successful. Prepare with us!

Module 1: Navigating the Storm: Crisis Management for Resilient Firms 
Whether it is changes in the market, a global pandemic, or loss of a supplier, at some point, most organizations will face a crisis. How you respond can make or break your organization. This intensive seminar on crisis management and business continuity planning will equip you with the knowledge and skills to manage crises confidently and ensure that your organization stays resilient. Resilient organizations recover faster from crises. Learn what successful organizations do. Failing to plan for the next crisis is planning to fail.

Module 2: Proven Strategies for Effective Fraud Detection and Prevention 
Fraud impacts over 80% of all organizations, costing over $10 billion annually. Do you aim to fortify your organization, or your client's, against fraud risks? We address how to instill a robust anti-fraud culture, and give you the tools needed to proactively prevent, detect, and manage fraudulent activities. Prevention is vital for success. Do not wait to protect the organization.

Module 3: CFO or Detective? A Guide to Conducting Effective Investigations 
CFOs are on the front line of managing risk within the organization, often including investigations into suspected theft or fraud. Fraud investigations are not accounting audits. Many lack the training needed to conduct a fair and legal investigation. This course will provide the essential knowledge and skill to conduct successful internal investigations. The goal is to ensure that when a case is referred to law enforcement, or results in other legal action, the findings will be admissible and robust. How to respect the rights of all parties involved, preserve evidence, use proper surveillance, and how to distinguish between company materials and individual property? Proper investigations are intricate. Be aware of the risk to the organization and to the investigating team. The goal is to lead and plan internal investigations with confidence and legal integrity. Be aware and be prepared.
 
Module 4: Artificial Intelligence (AI) and Machine Learning: Practical Applications for Finance 
Artificial Intelligence (“AI”) and Machine Learning (“ML”) are being deployed in organizations large and small at a rapidly increasing rate. Your organization is testing, deploying, and refining AI-powered applications across a variety of departments and business functions. Why should this matter to accounting, internal audit, finance, and cyber professionals? Should our teams be testing and deploying also? How and why can AI be used in accounting and auditing?

During this interactive session we will demonstrate and describe the differences between chat-based AI search tools and more robust AI-powered applications, e.g., an app to help prioritize and dispatch IT help desk tickets. The session will include example policies for responsible and ethical AI and resources to help curious professionals learn more about these subjects.
These technologies are powerful and quite capable: They are not without risk. With great power comes great responsibility. These technologies can also be misused (accidentally or intentionally) to destroy value instead of creating it.
We will also discuss which is the greater risk: a) not using these new technologies or b) misusing these new technologies. Leading organizations have been using AI and ML. Successful leaders must be aware of the pros and cons and how to properly utilize these tools.

Learning Objectives

• Identify potential threats and conduct rapid risk assessments. 
• Develop a comprehensive crisis management plan tailored to your organization. 
• Implement effective communication strategies during a crisis and before. 

Major Topics

Module 1: Navigating the Storm: Crisis Management for Resilient Firms
• The need for crisis management and business continuity plans
• Risk assessment and identification
• How to develop a crisis management framework
• Crisis communication strategies
• Business continuity planning essentials
• Keys to crisis leadership and decision making in a crisis

Module 2: Proven Strategies for Effective Fraud Detection and Prevention
• Understanding fraud
o Definitions and types
• How are frauds caught?
• Where, how, and when to look
o Common red flags
• How to reduce your fraud risks

Module 3: CFO or Detective? A Guide to Conducting Effective Investigations
• What is an investigation and when is it warranted?
• How to prepare for an investigation
- Who should conduct it and defining the boundaries
• When to outsource vs. conduct the investigation internally
• Evidence collection and preservation
– The paper and data trail
- Witness statements
• Employee rights during investigations
• Investigative techniques (data analytics, surveillance, interviews)
• Reporting results
• When to take the next step – the legal process

Module 4: Artificial Intelligence (AI) and Machine Learning: Practical Applications for Finance
• Explain AI and ML and describe potential finance-related applications for both.
• Demonstrate the growth of AI.
• Discuss practical applications and risks for AI and ML, specific for accounting and finance.
• Bookmark and share examples of ethical policies to help mitigate these risks.
• Demonstrate prompt engineering tips to yield desired responses from Generative AI tools like Chat GPT, Gemini, Perplexity AI, and Microsoft Copilot.

Who Should Attend?

Corporate financial leaders, corporate financial managers, CEOs, CFOs, controllers, accountants, board members, advisors, and consultants; CPAs in public practice and CPAs in industry; business owners, entrepreneurs and professionals who are interested in enhancing their ability to manage in a crisis, enhance their fraud detection and prevention capabilities and remain current with artificial intelligence to be prepared for the changes today and in the future.

Prerequisites

Preferably at least six (6) months of professional financial statement analysis experience, participants are encouraged to familiarize themselves with basic fraud concepts

Delivery Details

This course is produced by The Knowledge Institute, LLC; Big Marker. It will be delivered as a rebroadcast of a live event.