Current Fraud Trends (LIAA12/24)
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 trends in the current environment.
Accountants responsible for to preventing or detecting fraud, as well as identifying and responding to fraud risk on attest services
• Discuss the cause and impact on real-life fraud cases
• Explain what to be alert for in an audit in order to identify fraud potential
• Fraud trends per the most recent Association of Certified Fraud Examiners (ACFE) Annual Report on Fraud and Abuse
• Real-life examples of fraud in a variety of entities
• Cyber-security risks of fraud