Winning the Fraud Battle in the Digital Age: Prevention and Detection

Overview

You could pay $0 for this course!

The focus of this course is reducing the overall risk of fraud. To that end, instruction will cover the factors that play a role in turning honest employees into fraudsters. Discussion will touch on integrity and ethics, as well as how the reactions of people in certain situations may impact the prevalence of fraud.

This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course to be eligible. The course code for this program is C-3421. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Highlights

The price of fraud - ACFE’s Report to the Nations and ancillary costs The current economy - microeconomics and analysis COSO internal control framework, particularly Principle 1 (integrity/ethics) and Principle 8 (fraud risk assessments) Power of morale - shrinking the fraud triangle and employee motivation Deviant workplace behavior Historic schemes Why good folks go bad - interesting findings and red flags Combating fraud with controls Controls used by fraud victim organizations and suggestions for better implementation Fraud’s new frontier Corporate social, environmental, governance, and equity/inclusion reports and audits

Prerequisites

None

Designed For

CPAs in public practice and industry who wish to educate clients or colleagues on preventing fraud from occurring at the source - would-be fraudsters

Objectives

Recognize the prevalence of fraud Understand the ways an organization may unintentionally cause fraud Identify the costs of fraud Comprehend how the new COSO framework for internal control focuses on fraud Grasp the importance of an internal control environment Recognize potential signs of fraudulent behavior Understand how people may respond differently to certain factors See that there are many layers involved in fraud defense Anticipate a new environment ripe for fraudulent claims and reports

Preparation

None

Fees

Credits

Level

Vendor

Fields of Study

Leader(s):

Thomas Newell Jr., American Institute of CPAs

Leader Bios

Thomas Newell Jr., American Institute of CPAs

Thomas Newell Jr., CPA is a shareholder in the firm of Newell & Newell, P.C. located in Columbus, GA. Tom graduated cum laude from Georgia Southwestern College in Americus, GA in 1980. Tom started the firm with his wife Silvia Newell, CPA in 1986. Prior to that his public accounting experience included both local firms and international firms. Tom is an active peer reviewer having performed over 200 reviews and has been involved with the peer review program since 1989. Tom served on the Georgia Society peer review committees from 1989 to 1993. In 1993 Tom was selected to be one of the technical reviewers for the Georgia Society and served as a technical reviewer for the Georgia Society for 9 years. Tom has also served several years on the accounting and auditing committee at the Georgia Society. Tom has been a frequent speaker for the Georgia Society of CPAs at the Southeastern Accounting Show, Tax Forum (A&A topics), the Accounting Institute, local, national and international accounting firms and Fortune 500 companies. Tom is also a discussion leader for various continuing education courses on topics of audit & accounting, compilation and review, fraud and internal control, nonprofit, and peer review.

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