The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them
Tuesday, March 13, 2018
Many costly fraudulent schemes have occurred repeatedly throughout the past several decades. Why do these material fraud schemes continue to succeed? This webcast provides descriptions of how the most common types of financial statement and misappropriation of asset fraud schemes are detected. Cost-effective internal controls which can be implemented to prevent these schemes are provided in the webcast along with classic and contemporary real-world fraud cases reviewed in detail to reinforce how these schemes are perpetrated due to internal control failures and other factors. Red flags that might possibly be indicative of these fraud schemes are addressed.
When you complete this webcast, you will be able to:
Identify the schemes used to misstate revenue, inventory, asset overstatements, estimates, and other accounts.
Distinguish suspicious journal entries.
Determine the red flags associated with fraud schemes concerning revenue, inventory, asset overstatements, estimates, and other accounts.
Apply analytical procedures to detect various types of fraud.
Compare particular fraud schemes to landmark cases.
Major financial statement frauds including, among others, sales and other types of revenue, estimates, journal entries and other accounts
Major misappropriation of asset fraud schemes including skimming, larceny, and additional schemes that occur in inventory, payables and other accounts
Review of landmark cases where the fraud scheme(s) occurred: WorldCom, Phar-Mor, McKesson and Robbins, Waste Management, MiniScribe, Stew Leonard and others