Fraud is a reality for all entities. Whether perpetrated by insiders or outsiders it could be occurring at a material level. Corporate management charged with the responsibility for good internal controls must consider the possibility of fraud. Auditors (external and internal) must also consider, identity and assess fraud risk threats.
In recent years the old misappropriation of assets type frauds have given way to the new frauds – fraudulent financial reporting. The latter represents the “cooking” of the books (for example, manipulate the books to generate higher earnings for bonus purposes).
This fraud webinar is an excellent overview of the entire fraud situation and in particular the auditors responsibility re: fraud. This training specifically focuses on fraud in the corporate environment. It re-visits and clarifies some of the authoritative CPA literature related to fraud. Webinar coverage is equally important for CPAs and non-CPAs (e.g. internal auditors, corporate departmental managers, senior management, board members).
Attendees will gain a basic understanding of fraud related definitions and requirements. In particular it separates the fraud discussion between:
Fraudulent financial reporting (“cook-the-books” type frauds)
Miss-appropriation of assets (traditional fraud involving embezzlements, kickbacks, stealing assets, using corporate cash for non-corporate expenses etc.)
This critical fraud webinar also helps participants:
Identify business risks, assess those risks, and develop a response to the fraud risk assessment.
Focus on and explains typical frauds and provides checklists, questionnaires and other tools to help audit or review for fraud.
Attendees will take away the following key learning objectives:
- What is fraud
- What is fraud risk
- What is fraudulent financial reporting
- What is misappropriation of assets
- What are examples of fraud risk factors
- What is the difference between potential fraud and actual fraud
- How is fraud risk identified and assessed
- How is fraud risk evaluated
- What are some typical frauds
The following attendees will benefit from this webinar.
- Internal auditors – all levels
- External auditors – all levels
- Department and senior management personnel
- Risk analysts
- Selected board members
- Audit committee members
- Senior risk managers
Paul J. Sanchez, CPA, CBA, CFSA conducts a CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University – C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors.
1.5 CPE Credits & 1.8 AAP Credits