Fraud Prevention, Detection and Auditing
Occupational fraud is a multi-trillion-dollar business for perpetrators when you assume the estimated typical organization loses of 5-7% of annual revenue per the Report to the Nations on Occupational Fraud and Abuse as published by the Association of Certified Fraud Examiners (ACFE) since 1996. In response, regulators and standard setters are increasing their focus on the prevention and detection of fraud and boardroom accountability. This is evidenced through enforcement actions of the SEC and stronger audit standards.
Workplace fraud through asset misappropriation, corruption and deceptive financial reporting continues to plague all types of organizations and industries. While all companies combat fraud to some degree, the effort often falls short for a variety of reasons. This seminar explores common reasons for failure; and more importantly, discuss solutions through anti-fraud controls and a healthy tone-at-the-top. Attendees will take away a series of ideas on how to strengthen their control environment, as well as leading audit techniques.
In this session, we also take a deep look at the most recent Report to the Nations on Occupational Fraud and Abuse as published by the ACFE. Topics include:
We also cover some case studies to facilitate a discussion about what steps to take when fraud is suspected in an organization. The case studies raise awareness of the environments in which financial reporting fraud might flourish and proper engagement of audit committees, financial executives, and internal and external auditors to mitigate the risks of fraud.