2.5 CPE Fraud involves an intentional act to deceive, which may result in material misstatement in the financial statements due to fraudulent financial reporting or misappropriation of assets. Management’s responsibility is to design, implement, maintain and monitor a system of internal control to prevent, or detect and correct, fraud. This module will focus on real-life and practical examples of fraud in smaller- and mid-size environments, including nonprofits.
Major Topics:
- Fraud trends per the most recent Association of Certified Fraud Examiners (ACFE) Annual Report on Fraud and Abuse
- Real-life examples of fraud in nonpublic entity and nonprofit environments
- Cyber-security risks of fraud
Learning Objectives
- Discover and discuss the cause and impact on real-life fraud cases.
- Explore and explain what to be alert for in an audit in order to identify fraud potential.
- Recognize and focus on real-life and practical examples of fraud in smaller- and mid-size environments, including nonprofits.
Last updated/reviewed: June 07, 2024
Included In Certifications
This course is included in the following Certification Programs:
13 CoursesAudit Training Certification - Level 3 - In-Charge/ Senior
- Fraud Trends - Applying Real-life Lessons to Small and Mid-Size Entities
- Reviewing Workpapers - Embracing Responsibilities for Quality Control
- Advanced Audit Planning Concepts - Ensuring an Effective and Efficient Audit
- Internal Controls to Mitigate Financial Reporting Risk - Designing Stronger Internal Controls for Small or Mid-Size Entities
- Auditing Revenue Recognition - Grasping the Higher Risks and Special Audit Considerations
- Auditing Contingencies and Going Concern Uncertainty - Testing for Completeness and Proper Disclosure
- Audit Reporting Advanced Concepts - Understanding the Impact of General Audit Procedures on Disclosures and Audit Report Modifications
- Critical Traits of a Thinking Auditor - Stretching Experienced Auditors Beyond the Basics
- Client and Engagement Management - Managing the Black Holes that Erode Profitability
- Supervisor Skills - Coaching Staff to Stay on the Right Track
- Professional Ethical Considerations for CPAs
- Accounting Update - Hot Topics for Preparing Current Period Financial Statements
- Auditing & Attest Update - Hot Topics for Current Period Audits and Other Attest Services
34 Reviews (178 ratings)
Reviews
Anonymous
(Owner)
Course offered eye-opening statistics on methods, perpetrators, detection, and prevention. Course spends a large amount of time on statistics. Would like to see more practical examples and larger focus on prevention and detection, rather than just facts on what already is.
Debbie Banks
( at Banks Accountancy LLC)
Good statistical data regarding fraud. Would be interesting to see trend adjustments as more automation in various industries and activities, as well as the impact of the covid pandemic. Would be more interesting with more real world examples/stories.
Anonymous
(CPA)
I liked all the statistics provided in this course from the ACFE Report, and ideas and strategies to prevent fraud. It was also helpful that she considered the practicality of some of these measures for small companies.
Anonymous
(Internal Control Officer)
Very good teacher and very interesting content. I addressed many relevant topics and give a broad overview on fraud schemes and controls. I like that it illustrates the content with statistics.
Anonymous
(Assurance Specialist)
The assignments and assessments in the course were challenging and well-designed. They provided ample opportunities for me to test my understanding and apply the knowledge gained.
Anonymous
()
This course isn't exactly what I thought it would be but it is very informative & eye opening. I have taken several courses offered by Ms. Louis and she is a great instructor.
Tiffany Chang
(Accounting Manager at Wish)
Very interesting course that covers common frauds and recommended best practices to prevent fraud. I enjoyed seeing all the statistics included in the course.
Anonymous
(Private Equity Accountant)
Great course and well taught by the professor. I would recommend this course to others. The slides were very useful and had great information on them.
Ross Connor
( at HVAC Incorporated)
Good information for me since I work in a small business. Will be able to apply to my job to try and look for unusual transactions.
Anonymous
(Director)
Fraud trends highlighted many things that my current company does internal to educate about the various methods of fraud.
Kim Babberl
( at MedeAnalytics)
A good variety of content; maybe a little heavy on the statistics, but there was good coverage on numerous topics.
Anonymous
(Finance Analyst)
Great refresher on fraud trends, concepts and examples are clear and the exam questions are very well drafted.
Anonymous
(Consultant)
Good data about common fraud perpetrators/schemes to keep in mind during audits. Also really like the jokes.
Jonas A. AYI
(Consultant at Memphis Consulting Group)
This course is a must attend for developing frauds in the area of cybersecurity and latest trends in fraud
Anonymous
(CPA)
Way to much emphasis on statistics and not enough focus on tools and techniques to prevent fraud.
Anonymous
()
Well organized course. Statistics on fraud types and characteristics are helpful as warnings.
Staci Brown
(Director of Finance at Cair Paravel Latin School)
This course is very thorough and helpful, especially for those working in a smaller company.
Anonymous
(Finance)
It was full of great information about Fraud Trends. Info was well organized to follow!
Sandra Heelan
(CPA, CFE, MBA at None)
Interesting course, very well presented, held my interest and the jokes made me smile :)
Anonymous
(Partner)
Great course. Love this kind of information! Good for those interested in forensics.
Jonathan Nyaku
(CEO at Memphis Consulting Group)
Excellent presentation of core concepts. Very well written and easy to understand.
Anonymous
(SVP)
Great course with real-time example of the fraud risks facing all industries today.
Muhammad Baig
(Managing Director at N/A)
Reasonably well-planned orientation for the topic. Easy to understand and follow.
Anonymous
()
Great course Great courseGreat course Great courseGreat Great course course
Anonymous
(Internal Audit Manager)
Very good overall course with some good tips and tricks in the fraud area.
Inna Shmukler
(Controller at Fornetix LLC)
Long course, but lots of information; from statistics to recommendations.
Sean Searley
( at Sean Searley)
Fraud Trends - Applying Real-life Lessons to Small and Mid-Size Entities
Shannel Gordon
(Lead Compliance Investigator at Charter Communications)
The training was very informative and most of all I enjoyed the jokes.
Anonymous
(Internal Auditor)
This course provides a good overview of fraud schemes and trends.
Anonymous
(Partner)
good course would like more details about individual frauds
Anonymous
()
The information in this course was helpful and informative.
Anonymous
(Senior Revenue Manager)
I enjoyed this course, and I found it very informative.
Kent Swindlehurst
( at Cisco Systems)
One error in the practice exam regarding SOC controls.
Anonymous
(Senior Associate)
This was a great course and the material was thorough.
Prerequisites
Course Complexity: Intermediate
Prerequisite: Experience on basic audit engagements
Designed For: Accountants responsible for advising audit clients on how to prevent or detect fraud, as well as identifying and responding to fraud risk.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Jennifer LouisCPA, President of Emergent Solutions Group LLC
About Illumeo
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- Phone: 408-400-3993
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