Top Occupational Fraud Schemes (Completed)

The Association of Certified Fraud Examiners (ACFE) within their fraud tree, tree delineates the three major categories of fraud as:

• Corruption • Asset Misappropriation • Financial Statement Fraud

Fraud impacts every person and every organization. Regardless of size, structure, geography, or demographics, every organization is subject to fraud. Many individuals refer to fraud "red flags."

These are signs that indicate there is the potential for fraud to occur. Red flags do not mean a fraud has occurred. There are many presentations on “top frauds”. Be cognizant of how the presenter is focusing the discussion. Top frauds could relate to various areas. Examples of top fraud schemes include financial statement, revenue/disclosures/ presentation, cyber and internet/personal frauds, asset misappropriation, and corruption.

Topics Covered

• In this course, we review information on the top fraud schemes by focusing on the three categories as defined by the ACFE fraud tree. We also evaluate the most common schemes by industry as outlined by the ACFE report to the Nations.

Learning Objectives

• Explore fraud schemes as defined by ACFE
• Explore top corruption schemes
• Explore top financial statement schemes
• Explore top asset misappropriation schemes
• Identify industries with highest number of frauds
• Identify industries with highest median dollar loss due to frauds

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)

Program Prerequisites
None

Advance Preparation
None