Under COSO 2013, Principle 8: "The organization considers the potential for fraud in assessing risks to the achievement of objectives".
Corporate fraud is more prevalent today than ever before. Layoffs, pressures, incentives, anonymity, computerization, and lack of privacy are all contributing factors.
Fraud consumes an estimated 5% of corporate revenues. How can the auditor, investigator, accountant, financial analyst, attorney or business owner deal with fraud? By understanding fraud, the perpetrators, and the breakdowns in internal control you can develop a program to detect and prevent it.
We will examine in this CPE seminar the many facets of corporate fraud: the schemes, the motives, the opportunities, the problems and the risks. We will "slice and dice" the frauds and then we will examine how we can deter, detect and correct the underlying internal control problems.