This course explores many of the way’s employees can commit fraud, especially the types of fraud that use documents to skirt internal controls. We will consider embezzlement schemes, theft schemes (Cash, inventory, data, and fixed assets), and will examine how employees conceal these frauds. We will review the red flags for employee fraud. Real world examples will be provided for the participants to see how this is occurring in the business world.
This on-demand course is designed for individuals who would like refresh their understanding of employee fraud schemes and to learn how to recognize the red flags for detecting employee fraud. Understanding how employees commit fraud is the first step in preventing fraud.
Publication Date: September 2019
Designed For
CPAs, CFEs, CFFs, CIAs, CMAs, MAFFs, CGMAs, internal auditors, external auditors, managers, business owners and others in the accounting field.
Topics Covered
- Occupational Fraud
- Employee Fraud in the News
- Theft of Assets
- Common Fraud Schemes
- Internal Controls for Preventing & Detecting Employee Theft
- Consequences for Employee Theft
Learning Objectives
- Identify ways to prevent employee theft
- Identify common fraud schemes
- Recognize how to design internal controls to help prevent and detect employee theft
- Identify which level of control has internal controls that apply to the entire company
- Recognize which fraud involves opening bank accounts using false information
- Identify which type of occupational fraud is most costly when if occurs, according to the ACFE
- Recognize who is responsible for designing effective internal controls and ensuring that they are monitored and operating effectively
- Describe which expense reimbursement fraud is generally committed by employees
- Identify parts of the Fraud Triangle
- Recognize types of asset misappropriation
- Identify intangible assets an employee can misappropriate
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.