This course is designed to review the issue of expense reimbursement frauds. Businesses, not-for-profits, and government entities all have issues with expense reimbursement frauds. This is one of the easiest frauds for employees to commit. Examples of actual frauds will be provided so participants can understand how the frauds are being committed and how they were uncovered. We will review various methodologies for detecting expense reimbursement fraud and will discuss developing internal controls to help prevent and detect expense reimbursement fraud.
Publication Date: August 2021
Designed For
CPAs, CFEs, CMAs, CIAs, CFFs, MAFFs, CGMAs, CFOs, CEOs, business owners, business managers, internal auditors, external auditors, corporate accountants, government accountants and risk management personnel.
Topics Covered
- Review the issue of expense reimbursement frauds
- Fraud Losses
- Occupational Frauds
- Red Flags for Fraud
- Duration and cost of Expense Reimbursement Schemes
- Examples of Expense Reimbursement Frauds
- Detecting & Preventing Expense Reimbursement Frauds
- Red Flags for Expense Reimbursement Frauds
- Expense Reimbursement Data Analytics
- Internal Controls for Expense Reimbursement Frauds
- COSO Framework for Internal Control
- Risk Analysis
- Consequences of Committing Fraud
Learning Objectives
- Identify common expense reimbursement frauds
- Recognize how to detect red flags for expense reimbursement fraud
- Describe what is not used to detect expense reimbursement frauds
- Identify what is not a risk for expense reimbursement fraud
- Recognize parts of the control environment
- Describe a control activity
- Recognize an information and communication control
- Describe a monitoring control
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
A basic understanding of fraud and internal controls
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.