Fraud Examination. Prevention, Detection, and Investigation. Steven M. Bragg
|
|
- Timothy Hensley
- 6 years ago
- Views:
Transcription
1 Fraud Examination Prevention, Detection, and Investigation Steven M. Bragg
2 Chapter 1 Introduction to Fraud... 1 Learning Objectives... 1 Introduction... 1 What is Fraud?... 1 Confidence... 1 The Effects of Fraud... 2 Fraud Triggers... 2 Perceived Pressure... 3 Opportunity... 4 Rationalization... 5 Fraud Addiction... 5 Collusion... 5 Types of People More Likely to Engage in Fraud... 6 Types of Fraud... 6 Financial Statement Fraud... 6 Embezzlement... 6 Supplier Fraud... 7 Customer Fraud... 7 Investment Scams... 7 Common Fraud Risk Indicators... 8 Responsibility for Fraud Prevention... 9 The Fraud Examiner Chapter Summary Review Questions Review Answers Chapter 2 Fraud and Theft Schemes Learning Objectives Introduction Cash Theft Disbursement-Related Theft False Expense Reports Misuse of Company Credit Card Billings from Fake Suppliers Self-Insurance Fraud Unauthorized Shipments Redirected Payments Check Theft ACH Debits Compensation Fraud Executive Loans Workers Compensation Fraud Check Kiting Solicitations Disguised as Invoices Lapping Inventory Theft Product Replacement Fraud Fixed Asset Theft and Misuse Bust-Out Scams Advance-Fee Loan Schemes Kickbacks Bid Rigging Bribery Conflicts of Interest... 22
3 Insider Trading Stock Option Backdating Information Theft Time Theft Money Laundering Schemes Financial Statement Fraud Schemes Sales Inflation Expenses Falsification Marketable Securities Falsification Prepaid Expenses Falsification Receivables Falsification Loss Reserves Falsification Inventory Falsification Fixed Asset Falsification Liability Falsification Debt Falsification Discontinued Operations Stuffing Cash Flow Reclassifications Acquisition Falsification The Most Difficult Financial Statement Fraud Areas to Detect Financial Statement Disclosure Fraud Fraud Schemes More Common in Closely-Held Businesses Chapter Summary Review Questions Review Answers Chapter 3 Financial Statement Fraud Learning Objectives Introduction Reasons for Financial Statement Fraud Instigators How Financial Statement Fraud Begins The Financial Statements The Balance Sheet The Income Statement The Statement of Cash Flows Interactions between the Financial Statements Horizontal Analysis Vertical Analysis Interrelationships Analysis Revenue Interrelationships Revenue Acceleration Interrelationships Cost of Goods Sold Interrelationships Capitalization Interrelationships Ratio Analysis Financial to Non-financial Relationships Time-Based Analysis Other Red Flags A Note of Caution The Auditor s Approach Other Factors to Consider The Management Team The Organizational Structure The Size of the Organization The Board of Directors The Auditors Legal Issues ii
4 Short Selling Related Entities Footnotes Industry Analysis Chapter Summary Review Questions Review Questions Chapter 4 Fraud Prevention Learning Objectives Introduction Combatting Perceived Pressure Minimizing Fraud Opportunities Cultural Adjustment Activities Hire Correctly Communicate Expectations Provide an Example Establish the Work Environment Handle Fraud Situations Correctly Minimizing Collusion Engaging in Fraud Auditing Activities Combatting Rationalization Fraud Prevention for the Small Company Fraud Prevention for Outsiders Chapter Summary Review Questions Review Answers Chapter 5 Fraud Policies and Controls Learning Objectives Introduction Policies Audit Policy Check Signing Policy Employee Background Check Policy Employee Bonding Policy Expense Receipt Policy Expense Review Policy Employee Transfer Policy Missing Check Policy Stock Sale Investigations Supplier Background Check Policy Vacation Policy Whistleblower Rewards Policy Control Activities Segregation of Duties Authorization Levels Independent Reviews Physical Safeguards Documentation Preventive and Detective Controls Manual and Automated Controls When to Add Controls Control Overrides Fraud-Specific Order Entry Controls Fraud-Specific Credit Controls Fraud-Specific Shipping Controls iii
5 Fraud-Specific Billing Controls Fraud-Specific Cash Controls Fraud-Specific Inventory Controls Fraud-Specific Fixed Asset Controls Fraud-Specific Payable Controls Fraud-Related Purchasing Controls Fraud-Related Receiving Controls Fraud-Related Payroll Controls Fraud-Specific Journal Entry Controls General Controls Oversight Capabilities Incentive Systems Small Business Controls Chapter Summary Review Questions Review Answers Chapter 6 Fraud Detection Learning Objectives Introduction Fraud Symptoms Accounting Anomalies Analytical Anomalies Lifestyle Symptoms Unusual Behavior Assistance in Spotting Fraud Assistance from Employees The Employee Hotline Assistance from Suppliers and Customers Assistance from Auditors Records Examination Publishing Activities Data Analysis Data Analysis Techniques Benford s Law Cross-Matching Analysis Outlier Analysis Trend Analysis Discovery Sampling Access to Documents Nonfraud Factors Where Fraud Does Not Occur Undetectable Fraud Role of the Auditor in Fraud Detection Chapter Summary Review Questions Review Questions Chapter 7 Fraud Investigation Learning Objectives Introduction Whether to Investigate Investigation Policies and Procedures Fraud Investigative Techniques Documentary Evidence Personal Observation Physical Evidence iv
6 Testimonial Evidence Invigilation The Need for Objectivity The Need for Investigation Secrecy Involving the Police Signed Confessions Chapter Summary Review Questions Review Answers Chapter 8 Investigation of Concealment and Conversion Learning Objectives Introduction The Chain of Custody Organizing the Evidence Document Examination Conversion and Incarceration Information Sources National Crime Information Center Interstate Identification Index Federal Inmate Database Tax Returns State-Level Information County-Level Information Divorce Information Probate Court Information Professional Licensing Information Rental Information SEC Filings Tax Assessor Information Title Information Voter Registration Information Acquaintances Information Trash Analysis Fee-based Search Tools Investigations Related to Mail Fraud Calculating the Amount Stolen Chapter Summary Review Questions Review Answers Chapter 9 Fraud Interviewing Techniques Learning Objectives Introduction The Ideal Interviewer Types of Interviewees The Ideal Interview Interview Planning The Interview Interactions with Friendly Interviewees Interactions with Unfriendly Interviewees Asking for an Admission of Guilt Additional Interviewing Rules Activities Following the Interview Income Questions Lifestyle Questions Interviewee Motivations Reactions to Fraud v
7 Integrity Testing Chapter Summary Review Questions Review Answers Chapter 10 The Fraud Report Learning Objectives Introduction Report Tone Sample Text of the Report Chapter Summary Review Questions Review Answers Chapter 11 Legal Aspects of Fraud Learning Objectives Introduction Types of Prosecution The Civil Litigation Process The Criminal Litigation Process The Fraud Examiner Role in Lawsuits Federal Statutes Covering Fraudulent Activities CFR b5-1 Trading on the basis of Material Nonpublic Information U.S. Code 78dd 1 Prohibited Foreign Trade Practices U.S. Code 201 Bribery of Public Officials and Witnesses U.S. Code 500 Money Orders U.S. Code 1030 Fraud and Related Activity in Connection with Computers U.S. Code 1037 Fraud and Related Activity in Connection with Electronic Mail U.S. Code 1341 Frauds and Swindles U.S. Code 1342 Fictitious Name or Address U.S. Code 1344 Bank Fraud U.S. Code 1956 Laundering of Monetary Instruments U.S. Code 1961 Racketeer Influenced and Corrupt Organizations U.S. Code 7201 Attempt to Evade or Defeat Tax U.S. Code 8701 Prohibited Conduct (Kickbacks) Chapter Summary Review Questions Review Answers Glossary Index vi
INTRODUCTION TO FRAUD EXAMINATION
TABLE OF CONTENTS I. INTRODUCTION TO FRAUD EXAMINATION Introduction... 1 Axioms of Fraud Examination... 1 Fraud Is Hidden... 1 Reverse Proof... 1 Existence of Fraud... 2 Predication... 2 Fraud Theory Approach...
More informationFRAUD EXAMINERS MANUAL INTERNATIONAL EDITION
TABLE OF CONTENTS VOLUME I SECTION 1 FINANCIAL TRANSACTIONS AND FRAUD SCHEMES ACCOUNTING CONCEPTS Accounting Basics... 1.101 Financial Statements... 1.105 Generally Accepted Accounting Principles (GAAP)...
More informationFRAUD EXAMINERS MANUAL
TABLE OF CONTENTS VOLUME I SECTION 1 FINANCIAL TRANSACTIONS AND FRAUD SCHEMES ACCOUNTING CONCEPTS Accounting Basics... 1.101 Financial Statements... 1.105 Generally Accepted Accounting Principles (GAAP)...
More informationHOW TO SPOT AND MITIGATE FRAUDULENT ACTIVITIES
HOW TO SPOT AND MITIGATE FRAUDULENT ACTIVITIES For Government Entities and Nonprofit Organizations November 15, 2017 Presenters Bruce V. Bush Bruce is a Senior Director in RSM s Financial Investigations
More informationTypes of Fraud, Detection and Mitigation Presentation by: Isaac Mutembei Murugu CIA, CISA 23 rd November Uphold public interest
Types of Fraud, Detection and Mitigation Presentation by: Isaac Mutembei Murugu CIA, CISA 23 rd November 2017 Uphold public interest Contents Types of fraud, their modes of detection and mitigation Contract
More informationDescribe Fraud in the Context of Financial
Misappropriation of Assets and Fraudulent Financial Reporting Loscalzo s September 24, 2014 2012 Template for PowerPoint Slides A SmartPros Ltd. Company www.loscalzo.com (732) 741 1600 1 CPE Instructions
More informationFinacial Statement Fraud. Peter N Munachewa, CFE Risk Management Consultant
Finacial Statement Fraud Peter N Munachewa, CFE Risk Management Consultant What is FSF Falsification, alteration, or manipulation of material financial records, supporting documents, or business transactions
More informationMMAAA Annual Meeting. Conducting an Investigative Audit June 13, Presented by: John J. Sullivan, CFE Melanson Heath
MMAAA Annual Meeting Conducting an Investigative Audit June 13, 2017 Presented by: John J. Sullivan, CFE Melanson Heath Association of Certified Fraud Examiners 2016 Global Fraud Study Figure 1. Statistics
More informationFRAUD EXAMINERS MANUAL (INTERNATIONAL EDITION)
TABLE OF CONTENTS SECTION 1 FINANCIAL TRANSACTIONS AND FRAUD SCHEMES OCCUPATIONAL FRAUDS ACCOUNTING CONCEPTS Accounting Basics... 1.101 Financial Statements... 1.105 FINANCIAL STATEMENT FRAUD What Is Financial
More informationAGA Risk and Fraud Webinar
AGA Risk and Fraud Webinar February 22, 2017 Let s Begin with the Basics 5% of revenues lost to fraud every year Median fraud duration from start to detection is 18 months Small organizations tend to suffer
More informationFRAUD: A Web Of Deceit
FRAUD: A Web Of Deceit Presented by: Tessa Filippazzo, CPA, CFE Curtis Blakely & Co., P.C. PO Box 5486 Longview, TX 75608 (903) 758 0734 tfilippazzo@cbandco.com DEFINITION Intentional perversion of truth
More informationWhat do they investigate
What is Forensic Accounting & What do they investigate Presented by: Doug Cash MBA, CFE, CFI, CFCI Manager Forensic Accounting & Investigative Services Specialization i What is Forensic Accounting? What
More informationAn Overview of Fraud Risk. Presented by: Rick Potocek CPA MBA CFE
An Overview of Fraud Risk Presented by: Rick Potocek CPA MBA CFE To raise awareness of: Who commits fraud and why Red flags to consider Simple steps to take to immediately reduce the risk of fraud According
More informationFinancial Statement Fraud
Financial Statement Fraud 91 Errors, Irregularities, and Fraud Error unintentional misstatements or omissions of amounts or disclosures on financial statements Fraud is intentional 92 How errors and manipulations
More informationFinancial Accounting, 1e Chapter 6: Ethics, Internal Control, and IFRS Test Item File
Financial Accounting, 1e Chapter 6: Ethics, Internal Control, and IFRS Test Item File 6.0-1 Some accounting professionals believe that GAAP may have contributed to the accounting scandals as early as the
More informationINTERNATIONAL STANDARD ON AUDITING 240 THE AUDITOR S RESPONSIBILITY TO CONSIDER FRAUD IN AN AUDIT OF FINANCIAL STATEMENTS CONTENTS
INTERNATIONAL STANDARD ON AUDITING 240 THE AUDITOR S RESPONSIBILITY TO CONSIDER FRAUD (Effective for audits of financial statements for periods beginning on or after December 15, 2004) CONTENTS Paragraph
More informationStop Fraud in Your Office. Presented by: Margaret A. (Peggy) McGarrity, Esq., CPA
Stop Fraud in Your Office Presented by: Margaret A. (Peggy) McGarrity, Esq., CPA 1 White-Collar Crime EDWIN H. SUTHERLAND 1939 First defined white-collar crime Criminal acts of corporations Individuals
More informationManaging Reputational Risk for Nonprofit Organizations. Best Practices for Fraud Prevention. July 14, Christopher W. Truman, CPA, Manager
Managing Reputational Risk for Nonprofit Organizations Best Practices for Fraud Prevention July 14, 2014 CLAconnect.com Presenters Christopher W. Truman, CPA, Manager 2 July 14, 2014 1 Things to Think
More informationGood From The Inside Out. Saturday, April 8, 2017
Good From The Inside Out Saturday, April 8, 2017 What s New? Just last week Ex-CFO Accused of Embezzling $20M From Credit Union -Detroit Free Press January 9, 2016 Headlines Recent headlines Engaged CU
More informationThe Auditor s Responsibility to Consider Fraud in an Audit of Financial Statements
Issued December 2007 International Standard on Auditing The Auditor s Responsibility to Consider Fraud in an Audit of Financial Statements The Malaysian Institute of Certified Public Accountants (Institut
More informationPREVENTING FRAUD IN THE HOSPITALITY INDUSTRY
PREVENTING FRAUD IN THE HOSPITALITY INDUSTRY Provided by David M. Bleser of Hospitality Safeguards, Inc. Jim Stover of Arthur J. Gallagher TABLE OF CONTENTS I. INTRODUCTION TO FRAUD...2 A. FRAUD FOUNDATION...2
More informationFraud Prevention & Detection. Eric Conforti, CPA, CFE April 17, 2018
Fraud Prevention & Detection Eric Conforti, CPA, CFE April 17, 2018 1 Recent Trends Prevention and Detection Methods Common Schemes Case Studies Throughout 2 ACFE Report to the Nations 3 ACFE Report to
More informationCatch Me If You Can. Fraud in Local Government. CITY & COUNTY OF SAN FRANCISCO Office of the Controller Audits Division
Catch Me If You Can Fraud in Local Government CITY & COUNTY OF SAN FRANCISCO Office of the Controller Audits Division Steve Flaherty, Principal Investigator 10.03.2018 2 Disclaimer Any names or incidents
More informationMitigating Fraud. June 22, Sept. 21, 2014
Mitigating Fraud June 22, 2016 Sept. 21, 2014 Agenda Overview of the 2016 Report to the Nations on Occupational Fraud and Abuse Real Life Fraud Cases Mitigation Tools Lone Star College s Ethics Hotline
More informationChapter 2 Skimming. 2. To a fraudster, the principle advantage of skimming is the difficulty with which the scheme is detected. a. True b.
Chapter 2 Skimming 1. is the theft of cash from a victim entity prior to its entry in an accounting system. a. A fictitious disbursement b. Skimming c. Larceny d. Conversion 2. To a fraudster, the principle
More information1/3/2013. Months. Other $75,000. Government $81,000. Non-Profit $100,000. Dollars. Public Company $127,000. Private Company $200,000
In its 2008 Report to the Nation, Occupational Fraud and Abuse, the Association of Certified Fraud Examiners (ACFE) - reported losses of 7% of revenue or $994 billion of US Gross Domestic Product lost
More informationFraud Risk Assessment
Fraud Risk AHIA Southeast Regional Seminar Houston Texas Friday, November 12, 2010 Today s Discussion Agenda What is fraud? Industry fraud statistics Common fraud scenarios Fraud risk assessment (FRA)
More informationCourse 4200: Detecting and Investigating Financial Statement Fraud (2 days)
Course 4200: Detecting and Investigating Financial Statement Fraud (2 days) Course introduction This two-day immersion course provides an in-depth examination of financial statement fraud how it is defined,
More informationIIA Fraud Conference. Case studies from recent investigations. 8 April 2015
IIA Fraud Conference Case studies from recent investigations 8 April 2015 Outline What is fraud and types of fraud EY s 13 th Global Fraud Survey Survey approach and participant profile Unethical behavior
More informationFinancial Crime - Early Warning Signs the role of Internal Audit in recognizing red flags
Forensic Services Financial Crime - Early Warning Signs the role of Internal Audit in recognizing red flags 2 What % of revenues are lost to fraud? 5% Source: 2016 ACFE Report to the Nations 3 Has your
More informationInternational Standard on Auditing (Ireland) 240
International Standard on Auditing (Ireland) 240 The Auditor s Responsibilities Relating to Fraud in an Audit of Financial Statements July 2017 MISSION To contribute to Ireland having a strong regulatory
More informationGrant Fraud. Leslie Les Hollie Assistant Inspector General For Investigations
Grant Fraud Leslie Les Hollie Assistant Inspector General For Investigations US Dept of Health and Human Service Office of Inspector General Office of Investigations Washington, DC HRSA: May 16, 2017 Not
More informationInternational Standard on Auditing (UK) 240 (Revised June 2016)
Standard Audit and Assurance Financial Reporting Council July 2017 International Standard on Auditing (UK) 240 (Revised June 2016) The Auditor s Responsibilities Relating to Fraud in an Audit of Financial
More information716 West Ave Austin, TX USA
: What Every Accountant Should Know About Fraud GLOBAL Headquarters the gregor building 716 West Ave Austin, TX 78701-2727 USA TABLE OF CONTENTS I. INTRODUCTION Video Supplement... 1 Course Objectives
More informationNovember 2017 ICPAK FORENSIC AUDIT SEMINAR
November 2017 ICPAK FORENSIC AUDIT SEMINAR Introduction What is Fraud? 2 1 Insert Banner Profile of a Fraudster Introduction to Fraud A false representation of a matter of fact, whether by words or by
More informationLecture notes for: Corporate Cons
Lecture notes for: Corporate Cons This video covers internal fraud schemes (as opposed to management trying to defraud investors - like the other two videos) Cash Internal fraud schemes: Accounts receivable
More informationThe Auditor s Responsibilities. Audit of Financial Statements
HKSA 240 Issued July 2009; revised July 2010, May 2013, February 2015 Effective for audits of financial statements for periods beginning on or after 15 December 2009 Hong Kong Standard on Auditing 240
More informationLecture Notes for How to Steal $500 Million
Lecture Notes for How to Steal $500 Million These notes will be in the form of questions that you should try to answer while watching the video. The purpose is to make certain that you are paying attention
More informationUNDERSTANDING FINANCIAL STATEMENTS
UNDERSTANDING FINANCIAL STATEMENTS WHAT ARE FINANCIAL STATEMENTS? Most commonly there are 3 types of financial statements: 1. Balance Sheet 2. Income Statement 3. Cash Flows BREAKING IT DOWN: THE BALANCE
More informationMAKING CRIME PAY: HOW TO LOCATE HIDDEN ASSETS (NO )
MAKING CRIME PAY: HOW TO LOCATE HIDDEN ASSETS (NO. 98-5403) TABLE OF CONTENTS I. INTRODUCTION About This Course...1 II. SECRET MONEY What Is Secret Money?...2 What Is the Underground Economy?...2 Escaping
More informationAn Expensive Problem. Fraud in Government A Growing Problem
Stuart T Stickel, CPA, CFE Deputy State Auditor West Virginia State Auditor s Office Charleston, WV An Expensive Problem Business fraud and abuse in the U.S. cost about $650 billion a year. Government
More informationAsset Misappropriation. Peter N. Munachewa, CICA, CFIP, CFE
Asset Misappropriation Peter N. Munachewa, CICA, CFIP, CFE CORPORATE FRAUD AND ABUSE CLASSIFICATION SYSTEM Corruption Asset Misappropriation Fraudulent Statements Conflicts of Interest Purchasing Schemes
More informationAuditing and Assurance Standards Council
Auditing and Assurance Standards Council Philippine Standard on Auditing 240 (Redrafted) THE AUDITOR S RESPONSIBILITIES RELATING TO FRAUD IN AN AUDIT OF FINANCIAL STATEMENTS PHILIPPINE STANDARD ON AUDITING
More informationAnti-Fraud Policy. Version: 8.0 Approval Status: Approved. Document Owner: Graham Feek. Review Date: 07/12/2018
Anti-Fraud Policy Version: 8.0 Approval Status: Approved Document Owner: Graham Feek Classification: External Review Date: 07/12/2018 Last Reviewed: 09/12/2016 Table of Contents 1. Policy Statement...
More informationReduce Your Risk: Understanding Internal Controls and Fraud Risks and Prevention
Reduce Your Risk: Understanding Internal Controls and Fraud Risks and Prevention Michigan Municipal Treasurers Association June 16, 2017 Scott Sternhagen, CPA Manager Ryan Ritchay, CPA, CFE Senior Accountant
More informationDemystifying Forensic Accounting
Demystifying Forensic Accounting Michael T. Dyer, CFE Phone: (312) 961 2711 mike.dyer@sfg global.com Adrian Sierra, CPA, CFE, CFF, CGMA Phone: (312) 451 4502 adrian.sierra@sfg global.com AGENDA Defining
More informationRevenue Scotland Counter-Fraud Policy
Revenue Scotland Counter-Fraud Policy 0 Table of Contents Contents 1. Introduction and Scope... 2 2. Related Policies and Procedures... 2 3. Overview of Policy... 3 4. Responsibilities... 3 5. Exceptions...
More informationREPORT TO THE NATIONS ON OCCUPATIONAL FRAUD AND ABUSE 2016 SOUTHERN ASIA EDITION
REPORT TO THE NATIONS ON OCCUPATIONAL FRAUD AND ABUSE 2016 SOUTHERN ASIA EDITION Contents Introduction...3 How Occupational Fraud Is Committed...5 Frequency and Median Loss of Occupational Fraud Schemes...
More informationDelivering Confidence PAGE 1
PAGE 1 PAGE 2 Small Business, Big Thieves Preventing Fraud in Your Organization Presented by: Sean T. Daughton, CPA, CFE Kaitlyn Hensler, CPA, CFE 6.6.2018 3 Big Thieves PAGE 3 4 Concealing Fraud PAGE
More informationOffice of Investigations. GEOFFREY CHERRINGTON, DEPUTY ASSISTANT INSPECTOR GENERAL FOR INVESTIGATIONS
Introduction to the GSA OIG Office of Investigations GEOFFREY CHERRINGTON, DEPUTY ASSISTANT INSPECTOR GENERAL FOR INVESTIGATIONS Geoffrey.cherrington@gsa.gov History of the Inspector General The Inspector
More informationGreat Internal Controls and Then IT Happens Fraud!
Then IT Happens Fraud! Pamela Mantone, CPA, CFE, CFF, CITP, CGMA, FCPA, MAFF Pamela S. Mantone CPA, CFF, CFE, MAFF, CITP, CGMA, FCPA Director April 21, 2016 This material was used by Elliott Davis Decosimo
More informationDemystifying Forensic Accounting
Demystifying Forensic Accounting Michael T. Dyer, CFE Phone: (312) 961 2711 mike.dyer@sfg global.com AdrianSierra,CPA,CFE,CFF, CGMA Phone: (312) 451 4502 adrian.sierra@sfg global.com AGENDA Defining and
More informationSXU Financial Statement Fraud
SXU Financial Statement Fraud Quiz Three INSTRUCTIONS: There are a total of 61 questions on this quiz. Each question has a value of four points. You may choose any 25 questions to answer. If you answer
More informationCAREFUL STEPS TO TAKE WHEN YOU HAVE AN EGGSHELL AUDIT. By Frank J. Rooney, Esquire Offices CO, DC, MD, & VA
CAREFUL STEPS TO TAKE WHEN YOU HAVE AN EGGSHELL AUDIT By Frank J. Rooney, Esquire Offices CO, DC, MD, & VA www.irsequalizer.com 703-527-2660 EGGSHELL AUDIT DEFINITION Understatement of Income Overstatement
More informationPOLICY: FRAUD PREVENTION. October 2017
POLICY: October 2017 CONTENTS 1. PURPOSE P3 2. SCOPE P3 3. LEGISLATION AND CORPORATE GOVERNANCE REQUIREMENTS REFERENCE 4. POLICY STATEMENT AND INTERNAL STANDARDS P3 P4 4.1 Background P4 4.2 Actions constituting
More informationFINANCIAL STATEMENT FRAUD: DETAILED LOOK AT UNCOVERING CREATIVE ACCOUNTING FRAUD: P R E S E N T E D B Y : J O H N E K A D A H
FINANCIAL STATEMENT FRAUD: DETAILED LOOK AT UNCOVERING CREATIVE ACCOUNTING FRAUD: P R E S E N T E D B Y : J O H N E K A D A H Definitions Financial statement frauds is the deliberate misrepresentation
More informationFraud: How to Get Your District Free Publicity
APRIL 13-16, 2016 Fraud: How to Get Your District Free Publicity THESE MATERIALS HAVE BEEN PREPARED BY NIGRO & NIGRO, PC THEY HAVE NOT BEEN REVIEWED BY STATE CASBO FOR APPROVAL, SO THEREFORE ARE NOT AN
More informationFraud Control Framework
London Pension Fund Authority Fraud Control Framework Dec 2017 Page 1 of 14 Introduction: From April 2016 the LPFA partnered with Lancashire County Pension Fund (LCPF) in order to establish Local Pensions
More informationAnti-Fraud Policy Date: Version: Review Date:
Anti-Fraud Policy Date: July 2017 Version: 4.0 Review Date: July 2019 Policy Title Anti-Fraud Policy Policy Number: POL 022 Version 4.0 Policy Sponsor Policy Owner Committee Chief Executive Director of
More informationOCCUPATIONAL FRAUD 9/20/2018
OCCUPATIONAL FRAUD Presented by Inv. Andrea Jacobson Alaska State Troopers Alaska Bureau of Investigation Financial Crimes Unit What does it look like? What do we do when we see it? How do we prevent it?
More informationAre your business partners real or a Trojan Horse? Detecting and preventing anonymous shell companies
Are your business partners real or a Trojan Horse? Detecting and preventing anonymous shell companies What you should know about shell companies 1 What is driving the interest in shell companies? April
More informationInternal Bank Fraud Schemes & Scams in an Economic Downturn. Fictitious Loans. Bank Fraud Investigations. Tracking spreadsheet Affidavit 1 Affidavit 2
acumen Internal Bank Fraud Schemes & Scams in an Economic Downturn Presented by Angela Morelock, CPA, CFE, CFF, ABV, Certified Forensic Accountant insight ideas attention reach expertise depth agility
More informationFraud Detection in Public Schools
Fraud Detection in Public Schools Goal: To learn how to prevent and detect fraud from actual evidence uncovered during fraud investigations Format: We will discuss three of the largest fraud cases over
More informationFRAUD A MULTIFACETED PHENOMENON TYPES OF FRAUD PREVENTION AND PROTECTION
FRAUD A MULTIFACETED PHENOMENON TYPES OF FRAUD PREVENTION AND PROTECTION Vadym NESTERCHUK Chairman, Director, Optima-leasing /SIXT Oleksandr SHAPOVALOV Authorised Operation Officer Organised Crime Control
More informationSpotting Financial Distortions: A Primer for Attorneys
Spotting Financial Distortions: A Primer for Attorneys The Web Conference Series For Corporate Counsel January 17, 2007 To ask a question using the question pane Enter your question into the text area
More informationPART I REPORTING FINANCIAL INSTITUTION INFORMATION
FORM 7 SUSPICIOUS ACTIVITY REPORT Please complete all sections fully. If you are completing this form by hand, please print. Please return completed forms directly to: The Financial Intelligence Unit P.O.Box
More informationPOLICY: FRAUD INVESTIGATION. October 2017
POLICY: October 2017 CONTENTS 1. PURPOSE P3 2. SCOPE P3 3. POLICY STATEMENT AND INTERNAL STANDARDS P3 3.1 Possible outcomes P3 3.1.1 Suspension P3 3.1.2 Disciplinary action P3 3.1.3 Criminal action P3
More informationFraud & Forensic Accounting Update for CPAs
Fraud & Forensic Accounting Update for CPAs Presented by: Brett A. Johnson CPA/CFF, CFE, CFI Forensic Accounting Manager Background Eide Bailly LLP Top 25 CPA firm in the nation (Est. 1917) More than 49,000
More informationFraud prevention for credit unions
Fraud prevention for credit unions Deposit Insurance Corporation of Ontario November 12, 2013 2 Agenda The cost of fraud Internal fraud The risks of external fraud facing credit unions Fraud prevention
More informationWhistle-Blowing Policy
2017 Ithmaar Bank Human Resources Department Table of Contents Table of Contents 2 1.0- Statement of Purpose: 3 2.0- Responsibilities 3.0- Actions Constituting Fraud 3.1- Criminal / Unethical Conduct 3.2-
More informationANTI FRAUD POLICY AND FRAUD RESPONSE PLAN
ANTI FRAUD POLICY ANTI FRAUD POLICY AND FRAUD RESPONSE PLAN 1. Introduction 1.1 This paper sets out the Trust strategies for minimising the risk of fraud, corruption and other irregularity and the plan
More informationDepartment of State Treasurer. Policy Manual for Local Governments. Section 80: Internal Controls
Department of State Treasurer Policy Manual for Local Governments s Revision Issued: March 2017 Table of Contents Executive Summary... 1 Part I Objectives and Components of Internal Control... 3 A. Introduction...
More informationEmployee Dishonesty Lessons Learned: Internal Controls
Employee Dishonesty Lessons Learned: Internal Controls Presented by: Doug Roossien, CRM, CFE Business Protection Risk Management CUNA Mutual Group CUNA Mutual Group Proprietary Reproduction, Adaptation
More informationFraud Prevention and Detection. Lisa dewit, Sr Project Manager (3-5631) Formation Review 20 Oct 17 Prepared for: IIA Annual Fraud Seminar
Fraud Prevention and Detection Lisa dewit, Sr Project Manager (3-5631) Formation Review 20 Oct 17 Prepared for: IIA Annual Fraud Seminar Opening Remarks Fraud - what is it? Fraud Risk Management Fraud
More informationBank Secrecy Act and OFAC Compliance Board of Directors Training
Bank Secrecy Act and OFAC Compliance Board of Directors Training Introduction Today s presenters: Karen M. Janota Assurance Manager Disclaimer: The contents of this presentation are intended to provide
More information716 West Ave Austin, TX USA
MAKING CRIME PAY: HOW TO LOCATE HIDDEN ASSETS GLOBAL Headquarters the gregor building 716 West Ave Austin, TX 78701-2727 USA TABLE OF CONTENTS I. INTRODUCTION About This Course... 1 II. HIDDEN ASSETS What
More informationThe Painsley Catholic Academy. Counter Fraud, Theft and Corruption Policy 2018/19
The Painsley Catholic Academy Counter Fraud, Theft and Corruption Policy 2018/19 Introduction The Painsley Catholic Academy (The Academy) requires all Staff and Directors to act honestly and with integrity
More informationGlobal Anti-Corruption Policy
Policy: GEN-SOP-01-006 Owner: Compliance Office Global Anti-Corruption Policy 1. Overview This purpose of this policy is to prevent corrupt conduct by Adobe personnel and third parties who act on behalf
More informationCONT 3106 PROBLEMS AND EXERCISES OF CHAPTERS 11, 12 & 4 SECOND SEMESTER
CONT 3106 PROBLEMS AND EXERCISES OF CHAPTERS 11, 12 & 4 SECOND SEMESTER 2012-2013 CHAPTER 11 P11-1C Listed below are several transactions. For each transaction, indicate by letter whether the cash effect
More informationFRAUD ALERT! Cyber-Crime Impact on IDENTITY THEFT ACCOUNT FRAUD. n Minimize Risk n Vigilance Works n Fraud Prevention Tools
FRAUD ALERT! Cyber-Crime Impact on IDENTITY THEFT & ACCOUNT FRAUD n Minimize Risk n Vigilance Works n Fraud Prevention Tools As you probably already know one of the three major consumer credit reporting
More informationIntroduction to Fraud Examination. Course #5695B/QAS5695B Exam Packet
Introduction to Fraud Examination Course #5695B/QAS5695B Exam Packet INTRODUCTION TO FRAUD EXAMINATION (COURSE #5695B/QAS5695B) COURSE DESCRIPTION This course is an ideal introduction for beginners in
More informationFraud Risk Assessment CARRIE KENNEDY, PARTNER DUSTIN BIRASHK, PARTNER
Fraud Risk Assessment CARRIE KENNEDY, PARTNER DUSTIN BIRASHK, PARTNER Disclaimer The material appearing in this presentation is for informational purposes only and should not be construed as advice of
More informationIRS Criminal Investigation
IRS Criminal Investigation Overview IRS Criminal Investigation IRS Strategic Plan FY2013 Year in Review Emphasis Areas IRS Criminal Investigation 3,647 employees worldwide 2,554 Special Agents IRS Criminal
More informationTo Receive CPE Credit
Fraud Prevention Strategies for Financial Institutions: A Forensic Accountant s Top 20 List Presenter Photo Angela Morelock Partner amorelock@bkd.com 417.865.8701 August 15, 2013 To Receive CPE Credit
More information716 West Ave Austin, TX USA
: What Every Accountant Should Know About Fraud GLOBAL Headquarters the gregor building 716 West Ave Austin, TX 78701-2727 USA TABLE OF CONTENTS I. INTRODUCTION Video Supplement... 1 Course Objectives
More informationProcurement Fraud s Anatomy. By Tom Caulfield CFE/CIG/CIGI
Procurement Fraud s Anatomy By Tom Caulfield CFE/CIG/CIGI LEARNING OBJECTIVES 1. Identify statutes, regulations, and key personnel associated with the contracting process. 2. Identify the primary acquisition
More informationFraud Detection and Prevention for Governmental Organizations. Michael A. Swafford, CIA, CFE
Fraud Detection and Prevention for Governmental Organizations Michael A. Swafford, CIA, CFE Presenter Michael A. Swafford, CIA, CFE Mike is a Consulting Manager in our Forensic Valuation Services Practice
More informationFraud, Bribery and Corruption Control Policy
Fraud, Bribery and Corruption Control Policy 1. Introduction DuluxGroup acknowledges the need for directors, executives, employees and contractors to observe the highest ethical standards of corporate
More informationCONTINENTAL REINSURANCE ANTI-BRIBERY & CORRUPTION POLICY COMPLIANCE AND SUPERVISORY PROCEDURES
CONTINENTAL REINSURANCE ANTI-BRIBERY & CORRUPTION POLICY COMPLIANCE AND SUPERVISORY PROCEDURES 1 INTRODUCTION The Board of Directors ( the Board ) has determined that it is the policy of Continental Reinsurance
More information1/18/2018. Fraud Prevention and Detection: Special Investigations, Information and Examples. Office of the State Auditor Role and Responsibility
Fraud Prevention and Detection: Special Investigations, Information and Examples 2018 MACO Annual Winter Conference Thursday, February 15, 2018 10:15-12:00 Mark Kerr, JD, CFE Special Investigations Director
More informationLooking for Fraud Through Rose-Colored Glasses
Looking for Fraud Through Rose-Colored Glasses April 11, 2016 Presented by: James Mihills, CPA Disclaimer of Liability Weaver provides the information in this presentation for general guidance only, and
More informationCSMFO CONFERENCE 2018
CSMFO CONFERENCE 2018 Fraud: A Story of Embezzlement, Response, and Resilience February 22, 2018 Presented by: Damien Arrula City of Placentia Kenneth H. Pun The Pun Group, LLP 1 Objectives Hear a real
More informationInsights Into Accounting Schemes and Scams
Insights Into Accounting Schemes and Scams HFMA Arkansas Chapter Spring Conference April 16, 2015 Presented by: Jeffrey Roberts, CPA, CFE, CFF BKD, LLP Forensics and Valuation Services @BKDForensics Agenda
More informationHow to Ace Your BSA Exam & Risk Assessment
How to Ace Your BSA Exam & Risk Assessment LeVar Anderson, CAMS, AAP Auditor, Carolinas Credit Union League Agenda NCUA Examiners review compliance with BSA as part of every exam cycle using examination
More informationMIS 5208 Lecture 05 Recognizing the Symptoms of Fraud. Ed Ferrara, MSIA, CISSP Copyright 2018 Edward S.
MIS 5208 Lecture 05 Recognizing the Symptoms of Fraud Ed Ferrara, MSIA, CISSP eferrara@temple.edu Learning Objectives Fraud symptoms (as we have discussed) help you recognize fraud. If fraud symptoms are
More informationSTRATEGIES FOR MANAGING RISKS FROM FRAUD TO CORRUPTION. April 11, 2017
STRATEGIES FOR MANAGING RISKS FROM FRAUD TO CORRUPTION April 11, 2017 Overview Current trends EY s 14 th Global Fraud Survey Five key principles of fraud risk management Discussion of each of the five
More informationAnti-Money Laundering
INFORMATIONAL Anti-Money Laundering NASD Provides Guidance To Member Firms Concerning Anti-Money Laundering Compliance Programs Required By Federal Law SUGGESTED ROUTING The Suggested Routing function
More informationUniversity System of Georgia s 2016 Georgia Summit Fraud in Higher Education
University System of Georgia s 2016 Georgia Summit Fraud in Higher Education How to Protect your Institutions! September 14 2016 Jeff Fucito, CPA Aleisa Howell, CPA Jon Schultz, CPA Augusta Marriott at
More informationPresented by: Michael Moreau, CFE, CIA, CFSA Manager, Credit Union Group Macpage LLC
Presented by: Michael Moreau, CFE, CIA, CFSA Manager, Credit Union Group Macpage LLC mpm@macpage.com 978-760-0195 Capability Diamond Capability can they do it? Necessary position and authority Sufficient
More informationMember States capabilities in fighting tax crimes
Legal text Portugal Nature of the offence Tax avoidance is understood as a legal act - unless deemed illegal by the tax authorities or, ultimately, by the courts - of using tax regimes to one's own advantage
More information