Fraud Focus on Internal Controls - Prevent and Protect

Author: Lynn Fountain

Fraud continues to be perpetrated and has in many ways grown and expanded in various new and evolving risk areas. As technology continues to advance, so do the methods used to perpetrate fraud. In addition, the fraudster seems to be getting more intelligent and developing innovative ways to plague businesses and individuals.

In today’s digital world, internal controls are a critical element to allow organizations to prevent and detect fraud. Without proper internal controls, the “opportunity” portion of the fraud triangle is exposed. It becomes an area where employees and other professionals can take advantage and perpetrate fraud.

Publication Date: April 2025

Designed For
Controllers, Accountants, Auditors, Tax Professionals

Topics Covered

• Explore the internal control connection to fraud
• Examine ACFE Fraud Statistics
• Examine fraud red flags
• Explore the importance of fraud awareness
• Fraud detection techniques
• Internal Control Connection and Victim Organizations
• Using Data Analysis to examine for fraud
• Monitoring for fraud
• Fraud Hotlines
• Fraudulent documents
• Document destruction
• Fraudulent JEs
• Other controls

Learning Objectives

• Identify the internal control connection to fraud
• Identify the characteristics of organizations that fall victim to fraud
• Identify the importance of fraud awareness
• Identify most frequently used fraud controls
• Identify the most successful detection methods for fraud
• Identify anti-fraud methods at victim organizations

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Accounting (1 hour), Business Management & Organization (1 hour)

Program Prerequisites
Basic Understanding of Internal Controls

Advance Preparation
None