Organizations lose an average of 5% of revenue to fraud each year. Yet how many of those companies have a line item for fraud losses in their budgets? It is time to take a clear look at what fraud really is, how to prevent it where possible, to detect it quickly if it does happen, and to try to make sure it doesn’t happen again. We look at current fraud cases to learn how fraud happens, what the red flags are, and what we can learn for our organizations. Then we look at how we can create or improve our control environment using risk control frameworks. Throughout our discussion, we look at how ethics is the most potent antidote to fraud.
Course ID: LTAF
Let’s Talk About Fraud
Learning Objectives
– Define fraud and its relationship to ethics
– Identify types of fraud being committed throughout organizations today
– Consider the impact of rapid change on the fraud environment
– Understand the basics of risk assessment and how to use risk frameworks like COSO
– Recognize the role of personal and corporate ethical codes
Major Topics
– Current fraud environment
– Role of management in organizational control design
– COSO risk control framework
– Impact of technology on fraud
– Ethics as a fraud deterrent
– Personal and Organizational ethics
Who Should Attend
Anyone in business, government or NFP
Fields of Study
AccountingPrerequisites
None