Surgent's Winning the Fraud Battle in the Digital Age: Prevention and Detection (CFVV)

Overview

Our focus is to reduce the overall risk of fraud. To that end, this course focuses on what factors contribute to turning honest employees into fraudsters. Discussion will include integrity and ethics, as well as how people may react in certain situations. We will also touch upon what lurks in the darknet along with cryptocurrency fraud.

Prerequisites

None

Objectives

• Understand the prevalence of fraud
• Realize how organizations may cause fraud without realizing it
• Comprehend the cost of fraud
• See how the new COSO Framework for Internal Control focuses on fraud
• Understand the importance of the environment
• Recognize potential tipoffs to fraudulent behavior
• Comprehend information that indicates how some people respond differently to certain factors
• Understand that there are many layers in fraud defense

Highlights

• Fraud’s cost – ACFE’s Report to the Nations; Ancillary costs
• Current economy – Microeconomics; Analyses
• COSO’s Internal Control Framework – Principle #1 – Integrity/Ethics; Principle #8 – Fraud Risk Assessment; Errors & Irregularities – Does the auditor determine if fraud occurs?
• Power of morale – Shrink the fraud triangle; Motivation
• Deviant workplace behavior
• Historic schemes
• Why good folks go bad – What studies indicate; Five interesting findings; Red flags
• Combating fraud with controls
• Fraud prevention checklists
• The Dark Web