IN-PERSON OPTION: What Fraud Schemes Exist in Your Organization

Description

Many costly fraud schemes have occurred repeatedly throughout the past several decades, mostly due to the lack of implementation of internal controls and a fraud risk mitigation plan. The advancement of technology and the increased sophistication in committing fraud are also impacting organizations and affecting their bottom line. The Business Fraud Risk Framework identifies various types of fraud that can be perpetrated across an organization. This course will provide insight into the framework and focus on the most prevalent fraud schemes affecting organizations.

Highlights

Business Fraud Risk Framework Cyber fraud Misappropriation of assets Money laundering Financial statement fraud Investing/Ponzi schemes Bribery Risk mitigation techniques

Objectives

Distinguish between different fraud schemes within the Business Fraud Risk Framework. Identify the most prevalent fraud schemes perpetrated across organizations. Describe the adverse impacts on an organization as a result of perpetrated fraud schemes. Identify red flags for each of the fraud schemes. Recall an effective root cause analysis. Distinguish the methodology of how frauds are committed. Identify trends in various types of fraud. Recall how to mitigate fraud within an organization with properly designed internal controls and other methods.

Designed For

Individuals looking to understand various fraud schemes and how to mitigate these risks



Leaders

Jerry Spratt

Jerry has 42 years of audit and/or forensic examination experience gained through his employment with Spratt Financial Forensics, Inc., currently as president/owner, and the Arkansas Division of Legislative Audit, where he retired as Assistant Legislative Auditor. Jerry has over 30 years’ combined experience in organization board governance with multiple years in officer positions, including two years as Board Chair of the Arkansas Federal Credit Union (AFCU) Board of Directors; the Arkansas Society of CPAs (ASCPA) Board of Directors, with one year as Board Chair; and the Arkansas Chapter of CFEs, where he served many years as Board President. He has served on numerous accounting, auditing, and forensic examination-related committees, including ASCPA Professional Ethics (1998-2018, one year as Chair) and AFCU Supervisory (Audit) Committee (six years, four as Chair). Jerry also served as an AFCU Defined Benefit Plan Trustee (2006-2015). Jerry has developed and/or taught over 200 courses on forensic accounting and investigation, GAAS, Financial Accounting Standards, AICPA Code of Professional Ethics, nonprofit accounting and auditing, interviewing, internal controls, board governance, trial preparation, and forensic examination for sponsoring organizations since 2004. Course sponsoring organizations include AICPA; Association of Certified Fraud Examiners and local chapters; Arkansas State Society of CPAs and other state societies of CPAs; Surgent; National Business Institute; National Association of Federal Credit Unions; and others. For three years he was an adjunct professor at the University of Arkansas at Little Rock, teaching a graduate-level self-authored forensic course entitled “Accounting 8300 Fraud Audit.” He has written several articles published in Arkansas Business concerning accounting, auditing, and forensic examination. Awards Jerry has received include the Association of Certified Fraud Examiners’ 2004 CFE of the Year; ASCPA Outstanding CPA in Government (2004) and Mac Angel Discussion Leader of the Year (2005, 2010, 2014, and 2015); and AICPA Outstanding Instructor (2011, 2012, and 2014).