Fraud Schemes is a comprehensive course designed for finance professionals, focusing on the identification and prevention of various fraud types that can impact businesses. The fraud CPE course features detailed explorations of employee fraud schemes, financial statement fraud, and outsider fraud activities, with an emphasis on practical application. You will benefit from learning how to recognize and address specific fraud tactics, such as falsified expense reports, bid-rigging, and stock option backdating. The fraud CPE also covers techniques for detecting and preventing balance sheet manipulations and bust-out scams, crucial for maintaining the integrity of financial reporting. By understanding these schemes and their indicators, you'll be better equipped to establish effective controls within your organization, significantly reducing the risk of financial loss due to fraud.
Learning Objectives
Upon successful completion of this course, participants will be able to:
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.
Specify how a payables clerk can obtain a valid signature on a check intended for personal use.
Describe how stock option backdating can benefit employees.
Identify the tools available to a management team that wants to inflate sales.
Specify 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.
Specify 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
Fraud Schemes by Employees
Financial Statement Fraud Schemes
Fraud Schemes by Outsiders
