Fraud Trends - Applying Real-Life Lessons to Small- & Mid-Size Entitie

Overview

Fraud Trends - Applying Real-life Lessons to Small- and Mid-Size Entities will focus on real-life and practical examples of fraud in smaller- and mid-size environments, including nonprofits. Fraud involves an intentional act to deceive, which may result in material misstatement in the financial statements due to fraudulent financial reporting or misappropriation of assets. Management's responsibility is to design, implement, maintain and monitor a system of internal control to prevent, or detect and correct, fraud.

Prerequisites

Basic familiarity with fraud risk

Objectives

• Identify the cause and impact on real-life fraud cases
• Determine what to be alert for in an audit to identify fraud potential

Highlights

• Fraud trends per the most recent Association of Certified Fraud Examiners (ACFE) Annual Report on Fraud and Abuse
• Real-life examples of fraud in nonpublic entity and nonprofit environments
• Cyber-security risks of fraud