This course will concentrate on employee fraud, specifically bid rigging. We will review the red flags for bid rigging. We will also discuss bid rigging by vendors without employee collusion. Real world examples will be provided for the participants to see how this is occurring in the business world. This course is designed for individuals who would like to refresh their understanding of bid rigging schemes and to learn how to recognize the red flags for detecting bid rigging in an organization. Understanding how employees and vendors commit fraud is the first step in preventing fraud.
Publication Date: April 2022
Designed For
CPAs, CFEs, CFFs, CIAs, CMAs, MAFFs, CGMAs, internal auditors, external auditors, managers, business owners and others in the accounting field.
Topics Covered
- Fraud overview
- Types of bid rigging
- Red flags for bid rigging
- Bid rigging in the news
- Bid rigging laws & internal controls
- Reporting bid rigging
- Investigating bid rigging
Learning Objectives
- Identify red flags for fraud
- Identify bid rigging fraud schemes that affect businesses
- Identify what is not part of the fraud triangle
- Identify what is not an element of fraud
- Identify what is not tied to bidder exclusion
- Identify the law that prohibits restraint of trade and allows victims to recover treble damages
- Identify what is not considered retaliation against a whistleblower
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.