Asset Misappropriation- Let Me Count the Ways?
According to the ACFE’s 2018 Report to the Nations On Occupational Fraud and Abuse, there are three categories of fraud: Corruption; Asset Misappropriation and Financial Statement Fraud. The cumulative losses due to asset misappropriation dwarfs the losses resulting from corruption and financial statement frauds combined. And the asset the fraudster likes to steal most often ……CASH! Management knows what the fraudster wants and then provides them with the opportunity through weak internal controls to steal it; often without them even being aware of it until it’s too late.
The purpose of this presentation is to discuss some of the more common ways assets are stolen and why, the indicators of asset theft, how to detect it and most importantly, how to prevent it.
- Analyzing need, opportunity and rationalization
- Implementing the perception of detection
- Establishing and maintaining a positive tone at the top
- Describe the concept of materiality both quantitatively and qualitatively
- Building on one’s professional skepticism
- Preventing check fraud – not yours….. but your clients
External and Internal Auditors; Small Business Owners; Office Managers
Registration for this course has passed.
Applicable if you are a HSCPA member in good standing.
Applicable if you are not a HSCPA member.