Winning the Fraud Battle in the Digital Age: Prevention and Detection

Overview

The focus of this course is reducing the overall risk of fraud. To that end, instruction will cover the factors that play a role in turning honest employees into fraudsters. Discussion will touch on integrity and ethics, as well as how the reactions of people in certain situations may impact the prevalence of fraud.

Objectives

Recognize the prevalence of fraud

Understand the ways an organization may unintentionally cause fraud

Identify the costs of fraud

Comprehend how the new COSO framework for internal control focuses on fraud

Grasp the importance of an internal control environment

Recognize potential signs of fraudulent behavior

Understand how people may respond differently to certain factors

See that there are many layers involved in fraud defense

Anticipate a new environment ripe for fraudulent claims and reports

Highlights

The price of fraud - ACFE's Report to the Nations and ancillary costs

The current economy - microeconomics and analysis

COSO internal control framework, particularly Principle 1 (integrity/ethics) and Principle 8 (fraud risk assessments)

Power of morale - shrinking the fraud triangle and employee motivation

Deviant workplace behavior

Historic schemes

Why good folks go bad - interesting findings and red flags

Combating fraud with controls

Controls used by fraud victim organizations and suggestions for better implementation

Fraud's new frontier

Corporate social, environmental, governance, and equity/inclusion reports and audits

Designed For

CPAs in public practice and industry who wish to educate clients or colleagues on preventing fraud from occurring at the source - would-be fraudsters

Prerequisites

None

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy. https://www.ctcpas.org/events/cpe-policies

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Thomas Newell Jr.

Leader Bios

Thomas Newell Jr.

Thomas E. Newell, Jr., CPA Columbus, Georgia Thomas E. Newell, Jr. (Tom) is a shareholder in the firm of Newell & Newell, P.C., which is located in Columbus, GA. Tom started the firm with his wife, Silvia Newell, CPA in 1986. Prior to that, his public accounting experience included both local firms and international firms. Tom has performed hundreds of peer reviews and has been involved with the peer review program since 1989. Tom served on the Georgia Society (GSCPA) peer review committees from 1989 to 1993. In 1993, he was selected to be one of the technical reviewers for the Georgia Society Peer Review Program and served for nine years. During his time as technical reviewer, Tom worked with the GSCPA to move the peer review committee from in-person to online meetings. Tom has also served several years on the accounting and auditing committee at the Georgia Society. Tom has been a presenter at conferences and CPE courses for over 30 years. He has been a frequent presenter for the Georgia Society of CPAs at the Southeastern Accounting Show, Tax Forum (A&A topics), and the Accounting Institute. Tom is also a discussion leader for various continuing education courses on A&A topics for other state societies. He has made presentations at Fortune 500 companies and several government agencies on accounting and auditing, internal controls, and cybersecurity. As a presenter, Tom has been described as a dynamic speaker who is able to take a boring topic (accounting and auditing) and make it interesting. He was awarded the Surgent Outstanding Discussion Leader Award in 2015, 2016, and 2018, as a result of these skills. Tom was recognized in 2018 by the AICPA as an Outstanding Facilitator for his consistently high evaluations of knowledge and presentation skills. As the world of presentations has been changing, Tom has been a champion of moving to virtual presentations. He was involved in the early years of simulcasting by various state CPA societies, as well as the recording of video and audio self-study courses. Tom is now prepared for the next wave of change toward the totally virtual classroom that simulates a true live classroom experience. Tom graduated cum laude from Georgia Southwestern College in Americus, GA in 1980.

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