Fraud: Practical Approaches to Prevention & Detection

Description

Regardless of the service level provided to clients, a common belief is that a CPA's responsibility is fraud detection. Desperate individuals commit fraud and diligently cover their tracks. Fraud can be prevented and quickly be detected when alternative methods are applied.

This course explores fraud from the perspective of those who commit it, what motivates them and how internal controls can be designed to address the motivation. In addition, we'll address the signs of fraud and means by which the risk of fraud—particularly fraudulent misstatement of financial information—can be more narrowly identified to develop more focused control activities and audit procedures.

Highlights

• Nature and characteristics of fraud
• Profile of the fraud perpetrator
• Internal controls for fraud prevention
• Fraud detection

Objectives

• Recognize the nature and characteristics of fraud and how they are significant in relation to its prevention and detection.
• Determine what characteristics are likely to make internal controls more effective at fraud prevention.
• Identify where controls might be needed and how to develop controls that have a greater chance at being effective at prevention.
• Determine a methodology for developing audit procedures that more directly address areas representing greater risk.

Designed For

CPAs and financial professionals.