Understanding and Controlling Internal and External Fraud

Course Description:  

All organizations, regardless of size, must be aware of the risks associated with intentional fraudulent acts. Fraud activities can be executed from within an organization, by parties outside an entity, or by both. One of the primary ways to thwart fraud is to understand how and why it occurs. In this session, we delve into the reasons that both internal and external intentional defalcations take place. The material discusses how difficult it can be to see some of the motives driving those that undertake fraud. We then discuss measures that organizations can implement to help stop fraud activities and add security to the entire enterprise.

Learning Objectives:

Once participants have completed this session they should be able to:

• List reasons that employees and others that are internal to an organization choose to undertake fraudulent acts
• Explain the factors that make an organization attractive to those considering an external fraud attempt
• Discuss the types of control measures that work best as entities strive to mitigate fraud risk
• Understand specific internal control measures that can help to reduce fraud activities 
• Explain how anti-fraud measures add security to all segments and aspects of a business organization

Course Highlights:

This session is taught via the use of case studies adapted from real world examples. These studies are designed to show participants some of the negative effects of the rampant fraud taking place in the business world today. These examples also highlight some of the methods available to help mitigate both internal and external fraud risk. The topics discussed in this session include:

• Understanding why internal fraud occurs
• Fraudulent acts initiated from outside organizations 
• Policies, procedures and control measures designed to fight Fraud
• Steps that verify anti-fraud activities are working

Who Should Attend?

Accounting and other business professionals with a need to understand ways to thwart fraud

Area of Study:

Accounting

Level:

Intermediate

Credit:

8 hours

Prerequisites:

A basic understanding of Internal Control concepts