Learn how to defend against fraud and take appropriate steps to respond when fraud occurs.
This presentation explores the various ways to mitigate risk, especially in the corporate sector as it pertains to organizational fraud. Studies show that occupational fraud schemes result in approximately 5% revenue loss to organizations worldwide on an annual basis. While red flags can be identified, without employing strategies to mitigate risk, schemes perpetrated by trusted personnel can run in the tens of thousands, if not hundreds of thousands of dollars. This presentation is geared towards defining fraud and embezzlement, identifying the nature of occupational fraud schemes, and detailing several risk mitigation techniques that can be employed immediately. After this presentation, professionals working with their clients can identify several internal controls that can be employed immediately. Modern-day forensic investigative technology including data analytics, textual analytics, and sentiment analysis will also be reviewed and detailed as to their role in identifying indicia of fraud. In addition, the legal aspects of corporate internal investigations will be discussed, especially as it relates to independence and maintaining the attorney/client privilege.
Learning Objectives
- You will be able to identify which misappropriation schemes present the greatest risk.
- You will be able to identify how fraud duration leads to median loss.
- You will be able to differentiate between types of fraud.
- You will be able to recognize proper internal controls.
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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
Occupational Fraud
- Definition and Fraud Schemes
- Impact of Fraud on Organizations Worldwide
- Profile of a Fraud Perpetrator
Case Study I
- Background
- Fraud Scheme and Evidence
- Missing Internal Controls
Case Study II
- Background
- Fraud Scheme and Evidence
- Internal Controls Override
Internal Controls
- Internal Controls Frameworks
- Internal Controls That Can Be Employed Immediately
- Internal Controls for Remote Employees
Modern-Day Fraud Detection
- Accounts Payable Fraud Scheme
- Vendor Attribute Analysis: Employee/Vendor Matching
- Vendor Trend Analysis
- Textual Analytics
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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 revised on September 26, 2023.
Call 1-866-352-9540 for further credit information.
- ACFE 2.0
- This program is applicable for 2.0 compliance or recertification CPE(s) through the Association of Certified Fraud Examiners (ACFE). Please visit the ACFE website for further clarification: https://www.acfe.com/cfe-credential/continuing-professional-education-cpe-requirements.
- AIPB 2.0
- This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
- AR CLE 1.5
- This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.5
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.5
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- CT CLE 1.5
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
- GA CLE 1.5
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
- HI CLE 1.5
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
- MO CLE 2.0
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.7
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 104 Minutes.
- NV CLE 1.5
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
- PA CLE 1.5
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
- RI CLE 2.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 2.0 hours of CLE credit.
- VA CLE 1.5
- This program has been approved by the Virginia Mandatory Continuing Legal Education Board for 1.5 CLE credit hours.
- VT CLE 1.5
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WV MCLE 2.0
- This program has been approved by the West Virginia State Bar MCLE Commission for 2.0 MCLE hours.
- IAPP 1.75
- This course has been approved through the International Association of Privacy Professionals (IAPP) for 1.75 CPE Credit(s). This course is applicable to the following certifications: CIPP/A, CIPP/C, CIPP/E, CIPP/US, CIPM, CIPT.
CPE/NASBA - QAS Self Study 2.8 including Auditing 2.8
- 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: 2.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Auditing for 2.8 hours. Prerequisite: . 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.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
Virginia MCLE requirements do not allow approval for programs that do not include an audio or audiovisual component.
This program was previously offered as a live webinar. Virginia MCLE requirements do not allow approval for attendance at duplicate programs.
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More Program Information
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
Stuart G. Berman, CFE, CAMS, PSP
RSA Risk Management, PLLC
- •Principal and Co-Founder of RSA Risk Management, PPLC in Chicago, IL
- •Provides expert witness services, litigation support, forensic accounting, corporate investigations, eDiscovery services, cyber security, and physical security assessment services
- •Dedicated to serving the legal, government, and private sectors
- •Retired Special Agent in Charge, U.S. General Services Administration (GSA), Office of Inspector General (OIG)
- •20 years of federal law enforcement experience, with over 25 years of experience in conducting financial and fraud investigations
- •Proficient in forensic accounting, proactive analytics, economic damages calculations, records analysis, and data interpretation
- •Skilled in presenting summaries and complex financial and commercial-related issues
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More Program Information
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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