Overview
Fraud has not been conquered. Although most organizations like to think, “it can’t happen to us,” the fact of the matter is that fraud can happen to any organization and its impact can be catastrophic. Accountability professionals are the first line of defense against fraud. When fraud happens, management always turns to the accountability professional and either says (a) “this must be your fault,” or (b) “you were right; you warned us; help us make sure this cannot happen again.” Consequently, accountants, internal auditors, external auditors, fraud examiners, and risk management professionals need to develop the skills needed to prevent, detect, and deter fraud and need to be proactive in promoting and effecting organizational change.
According to the Association of Certified Fraud Examiners’ (ACFE) 2024 Report to the Nations:
- The median loss per fraud case is $145,000; the average loss per fraud case is $1.7 million.
- 43% of frauds are discovered by tips, usually from employees.
- Asset misappropriation schemes are the most common (89%) but least costly ($120,000 median loss).
- Financial statement fraud schemes are the least common (5%) but most costly ($766,000 median loss).
- Corruption is the most common scheme in all global regions.
- Median losses for frauds by owners/executives ($459,000) were more than 7X GREATER than those carried out by employees ($60,000).
- 84% of fraudsters exhibited at least one behavioral red flag.
- Organizations that have implemented anti-fraud measures suffer significantly lower losses and find fraud much more quickly.
These conclusions are alarming and should be a wake-up call for all business and government professionals. The impact of fraud is always devastating and can be catastrophic. The 2025 Business Fraud Update is another fast-moving seminar that will provide a comprehensive look at the latest developments about fraud from the technical, legal, and operational perspectives and update participants on the most recent legal and regulatory developments in this important area of professional responsibility.
In addition, our panel of legal, accountability, and forensic experts will explain key steps and methods in conducting a successful fraud investigation:
- Establishing predicate for an investigation
- Gathering and preserving evidence
- Conducting interviews and obtaining confessions
- When to involve law enforcement professionals and regulators
- The CPA's Role
- Preparing an expert report
- Providing expert testimony
- Implementing corrective action plans
Objectives
- Understand fraud risk management from the technical, legal, and operational perspective.
- Learn the most recent legal and regulatory developments pertaining to fraud deterrence, prevention, and detection.
- Understanding what to do (and what not to do) in conducting investigations into suspected fraud.
Highlights
- Business Fraud
- Fraud Risk Management and Fraud Risk Assessments
- Data Analytics and Digital Analysis
- Providing Forensic Services
- Conducting Investigations
Register Now
Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.
