2021 Fraud Review

Author: Robert K Minniti

CPE Credit:  4 hours for CPAs

One of the main reasons CPAs and other accountants often fail to detect fraud is that they are too honest. They find it difficult to think like a criminal. This course is designed for individuals who would like refresh their understanding of fraud schemes and to learn how to recognize the red flags for detecting fraud. Understanding how criminals commit fraud is the first step in preventing fraud.

Publication Date: July 2021

Designed For
CPAs, CFEs, and others in the accounting field and is appropriate to fulfill the 4 hour fraud requirement for California CPAs.

Topics Covered

  • Definition of Fraud
  • Fraud Research
  • The Elements of Fraud
  • Fraud Losses
  • Common Fraud Schemes
  • Methods for Committing Financial Statement Fraud
  • Accounts Receivable Frauds
  • Examples of Expense Reimbursement Frauds
  • Counterfeit Currency
  • Theft of Inventory
  • Larceny Scheme
  • Inventory Frauds
  • Other Cash Frauds
  • Fraudulent Checks
  • Noncash Payment Trends
  • Credit & Debit Card Frauds
  • Government Contract Fraud
  • Examples of Employee Payroll Frauds
  • Accounting Payroll Frauds
  • Management Payroll Frauds
  • Types of Tax Fraud
  • Phishing Examples
  • Vishing
  • Smishing
  • Denial of Service Attacks
  • Ransomware
  • Data Breaches
  • Identity Theft
  • COVID-19 Frauds

Learning Objectives

  • Identify red flags for fraud
  • Recognize fraud schemes that affect businesses and individuals
  • Recognize which fraud is used to hide the origin of an email
  • Identify the most common way to pay for stolen credit card numbers purchased over the internet
  • Differentiate types of corruption and how they are used
  • Describe the fraud triangle
  • Identify the most common concealment method used by fraudsters
  • Recognize which fraud scheme involves stealing payments from one customer and covering the theft with payments stolen from other customers
  • Describe types of corruption
  • Recognize examples of expense reimbursement fraud
  • Identify which type of cyber attack is used to try to take down a government website
  • Recognize common ways to steal data from a computer
  • Describe the most common behavioral red flag for fraud
  • Recognize which type of payroll frauds uses fictitious employees
  • Recognize which accounts receivable frauds involves management misstating the accounts receivable balance to lenders

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (4 hours)

Program Prerequisites
None

Advance Preparation
None

Registration Options
Quantity
Fees
Regular Fee $83.00

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