Fraud is not just for auditors anymore. Learn how our professional standards relate to your responsibility to detect fraud when preparing all levels of financial statements. Maximize your value to your client by learning effective loss-prevention strategies based on actual war stories. This course will teach you how to identify potential problem areas, develop a prevention plan, and use the necessary tools and techniques needed to minimize the loss of any client-initiated legal claims.
Identify the professional standards related to fraud.
Recognize the red flags of fraud and understand the fraud triangle.
Determine how to best detect, prevent and respond to fraud.
Recognize current types of fraud risks facing nonaudit practitioners.
Identify the available loss prevention tools.
Common fraudulent financial reporting and asset misappropriation schemes
The ongoing expectation gap: professional standards vs. jury expectations
Simple but effective controls that will guard your clients' assets from misappropriation and how to communicate these controls
Available loss prevention tools and techniques that help minimize a practitioner's risk of loss from client-initiated negligence claims
CPAs and others interested in gaining insight into fraud and investigating the resources available to mitigate the risks that fraud presents.
As the discussion topics relate to loss mitigation issues faced by firms in today's practice environment, exposure to those issues is beneficial but not critical to success.
Advanced Prep: None
Speaker: Thomas E. Noce, CPA, CFE
Field of Study: Accounting & Auditing
CPE Credit: 4 Hours
Meet the Speaker:
Thomas E. Noce, CPA, CFE, PFP, is a graduate of Rutgers University with a degree in accounting. Mr. Noce began his career with a large local accounting firm in New Jersey, where he concentrated in auditing and accounting for non-profit organizations and government related agencies. In 1985, he joined a Palm Springs firm where he was a shareholder from 1995 to 2003. In 2003, Mr. Noce opened his own practice in Palm Springs. His professional experience includes a variety of clients, including tribal entities, hotels, real estate, construction, homeowners associations, country clubs, non-profit organizations and others. His current practice emphasis focuses on tax and accounting issues related primarily to the real estate and hospitality industries. He also performs special engagements dealing with internal controls and fraud prevention and detection. Mr. Noce has authored and taught a number of courses for the CalCPA Education Foundation and chaired the Foundation's first two Fraud Conferences, as well as two Audit and Accounting Conferences. In 2004 and 2010 he received the Foundation's Award for Instructor Excellence. Currently, Mr. Noce presents six courses for the Foundation in the areas of Fraud, Audit and Accounting Standards and Risk-Based Auditing.