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Fraud Update: Detecting and Preventing the Top Ten Fraud Schemes (127-15)
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Many costly fraudulent schemes have occurred repeatedly throughout the past several decades. Why do these material and frequently recurring frauds succeed? One reason is that business owners, management, auditors, and employees fail to recognize the red flags that have been associated with these financial statement and misappropriation of asset frauds. Another major reason is that the reporting and transaction processing systems do not have adequate controls to either prevent and/or detect these

11/2/2015
When: 11/2/2015
7:30 AM - 3:45 PM
Where: UACPA Training Facility
136 S Main Street, Suite 510
Salt Lake City, Utah  84101
United States
Presenter: Glenn Helms
Contact: April Deneault
801-834-6634


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Many costly fraudulent schemes have occurred repeatedly throughout the past several decades. Why do these material and frequently recurring frauds succeed? One reason is that business owners, management, auditors, and employees fail to recognize the red flags that have been associated with these financial statement and misappropriation of asset frauds. Another major reason is that the reporting and transaction processing systems do not have adequate controls to either prevent and/or detect these schemes. This course will provide descriptions of how these major frauds are perpetrated (including real-world examples) and the types of cost-effective controls that can be implemented by both small and large businesses and nonprofit entities to identify and prevent these deceptive acts.

 


Objectives:

Identify the risk factors and red flags for each of the top ten fraud schemes.

Be able to design controls into systems to mitigate these fraud risks.
Understand the methodology of how these frauds are committed.
Educate others within his/her organization about common fraud techniques and how to recognize them.

 

Major Subjects:

Major financial statement frauds including, among others, corruption conspiracies regarding sales and other types of revenue, estimates, journal entries, and other accounts
Major misappropriation of asset frauds including, among others, skimming, larceny, and embezzlement involving inventory, payables, and other accounts
Ponzi and asset flip schemes

Control implementation ideas
Risk factors in accordance with the revised authoritative guidance on fraud

 

Designed for:

Business owners, managers, supervisors, employees, accountants and auditors

 

Prerequisite: 

Experience in accounting and reporting.

 

Advanced Prep: None

 

Speaker: Glenn Helms

Vendor: AICPA

Field of Study: Tax

Level: Intermediate

CPE Credit: 8 Hours

Acronym: TTFS

 

 
Registration Fees:                           
Members                
Nonmembers     
Earlybird (through 10/19) 
$257 $340
Standard (after 10/19)
$285 $340

 

AICPA Members receive an additional $30 off the price of this course. Use promo code AICPA8 at checkout to receive the discount.

 

Meet the Speaker:

Dr. Glenn L. Helms has numerous years of experience in public accounting and serves as a consultant to various organizations. He has provided consulting services to Fortune 100 firms, CPA firms, and financial institutions. He has presented professional seminars, published articles in a wide range of practitioner and academic journals, and written twelve continuing education courses.

Dr. Helms was the Arthur Young Fellow in IT Auditing at the University of Houston and has served as Director of Certification for the International Certified Information Systems Auditor program. He has served on numerous national and international academic and professional committees. He has also served on the editorial advisory boards of several national and international journals. He is a multiple year recipient of the Don Farmer Award and also has received the outstanding Discussion Leader Award from state societies and universities. His topics of interest are internal control, forensic accounting, and auditing.

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