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The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them

Type: Video Webcast
Date: November 13, 2014
Time: 08:30 AM - 12:00 PM ET
Recommended CPE Credit: 4
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Many costly fraudulent schemes have occurred repeatedly throughout the past several decades. Why do these material fraud schemes continue to succeed? Is it due to failures of properly designed internal controls? Could the internal controls be adequate but not complied with? This course provides descriptions of how the most-common types of financial statement and misappropriation of asset fraud schemes are detected. Cost-effective internal controls that can be implemented to prevent these schemes are provided. Classic and contemporary real-world fraud cases are reviewed in detail to reinforce how these schemes are perpetrated - due to internal control failures and other factors. Learn the red flags possibly indicative of these fraud schemes.

Topics Discussed:

  • 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; Mattel, Inc.; Stew Leonard; and others

Learning Objectives

Upon completion of this course, participants will be able to:

  • Identify the schemes used to misstate revenue, inventory, asset overstatements, estimates and other accounts
  • Recognize suspicious journal entries
  • Recognize the red flags associated with fraud schemes concerning revenue, inventory, asset overstatements, estimates and other accounts
  • Employ analytical procedures to detect various types of fraud
  • Relate particular fraud schemes to landmark cases

Field of Study: Auditing
Level: Intermediate
Prerequisites: Experience in accounting and reporting

Important Information on Your CPE Credit

The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them
Individual CPE
November 13, 2014 8:30 AM - 12 PM ET
Video Webcast ,
Product# VCL4TTFS004
Availability: Online Access
Live Webcast
Regular:$199.00
AICPA Member:$149.00
Your Price:$199.00
The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them
Individual CPE
December 4, 2014 1:00 PM - 4:30 PM ET
Video Webcast ,
Product# VCL4TTFS005
Availability: Online Access
Live Webcast
Regular:$199.00
AICPA Member:$149.00
Your Price:$199.00
The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them
Individual CPE
December 29, 2014 8:30 AM - 12 PM ET
Video Webcast ,
Product# VCL4TTFS006
Availability: Online Access
Live Webcast
Regular:$199.00
AICPA Member:$149.00
Your Price:$199.00
The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them
Individual CPE
January 22, 2015 1:00 PM - 4:30 PM ET
Video Webcast ,
Product# VCL4TTFS007
Availability: Online Access
Live Webcast
Regular:$199.00
AICPA Member:$149.00
Your Price:$199.00
The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them
Individual CPE
February 23, 2015 1:00 PM - 4:30 PM ET
Video Webcast
Product# VCL4TTFS008
Availability: Online Access
Live Webcast
Regular:$199.00
AICPA Member:$149.00
Your Price:$199.00
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