Fraud can occur in the best of organizations, but those with effective controls should be able to detect it in a timely manner.
Many companies do not have sound policies and procedures. Even those who do, do not always look for controls in those procedures, or understand the link between sound, workable internal controls and deterring fraud. Companies should have a written internal control policy. In many cases, it is written, approved and put on a shelf and not effectively used. An effective internal control policy should become a mindset that every employee is aware of its importance. Fraud can occur in the best of organizations, but those with effective controls should be able to detect it in a timely manner. Effective policies do help to deter fraud. There are red flags that employers and auditors can look for to help detect fraud.
Learning Objectives
- You will be able to differentiate between the stages of the Fraud Triangle
- You will be able to identify Primary Control Weaknesses
- You will be able to differentiate between the Types of Fraud
- You will be able to identify the COSO Cube levels
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Internal Controls
- Difference Between Processes and Controls
- Effective Controls and Why They Matter
Segregation of Duties
- How Can Segregating Duties Create Better Controls?
Fraud
- Costs to Companies as a Result of Fraud
- Types of Fraud
- Fraud Prevention and Illustrations of Fraud (Examples)
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Credit
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last reviewed on November 15, 2023.
Call 1-866-352-9540 for further credit information.
CPE/NASBA - QAS Self Study 2.6 including Accounting 2.6
- Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.6 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting for 2.6 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Karen McMurray, CPA, CFE, CICA, CGMA
Blackburn, Childers & Steagall, PLC
- Retired partner in the office of Blackburn, Childers & Steagall, PLC
- Practice emphasizes all aspects of audit, particularly governmental and not-for-profit, also a certified fraud examiner
- The firm conducts an annual accounting, auditing and tax update in which she has been a regular speaker; she has also been a previous presenter for Lorman
- Membership information: CPA, certified fraud examiner (CFE), certified internal controls auditor (CICA), and a CGMA
- B.S. degree, East Tennessee State University
- Can be contacted at 423-282-4511 or [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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