Fraud Schemesis an essential course for professionals seeking to strengthen their organization's defenses against fraud. This course offers a thorough exploration of the various fraud schemes that can be encountered, ranging from employee-level fraud to complex financial statement manipulations and external scams. You will learn to identify the characteristics of different fraud types, understand the techniques employed by fraudsters, and recognize the signs of impending fraudulent activities. The course also provides actionable insights into implementing controls and countermeasures to mitigate the effects of these schemes. By understanding both the mechanics of fraud and the strategies to counteract it, participants will enhance their ability to protect their organizations from the damaging effects of fraudulent activities.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
Identify the characteristics of each type of employee fraud scheme.
Recognize the methods used by employees to falsify their expense reports.
Recognize the techniques used to artificially assist suppliers in winning bids.
Note how a payables clerk can obtain a valid signature on a check intended for personal use.
Describe how stock option backdating can benefit employees.
Chapter 2
Identify the tools available to a management team that wants to inflate sales.
Note how the reported asset balances in the balance sheet can be artificially altered.
Point out the circumstances in which a management team is more tempted to set up a large loss reserve.
Recognize the methods available for using fixed assets to alter reported expense levels.
Identify the methods available for falsely reducing reported liability levels.
Describe the reasons why cash flows may be mis-reported.
Chapter 3
Note the possible indicators of application fraud.
Describe the controls that can be used to mitigate the effects of outsider fraud schemes.
Cite the underlying mechanics of a bust-out scam.
Point out the indicators of a possible money laundering scheme.
Major Topics
Employee Fraud Schemes
Financial Statement Fraud Schemes
Outsider Fraud Schemes
