Current Non-Profit Fraud Trends: What To Look Out For (LIAA32/22)
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.
Anyone with responsibilities for preventing or detecting fraud, or providing attest services
- Discuss the cause and impact on real-life fraud cases
- Explain what to be alert for to identify fraud potential
- List cybersecurity risks relevant to nonprofits
- Discuss best practices for minimizing fraud risk
- Fraud trends per the most recent Association of Certified Fraud Examiners (ACFE) Annual Report on Fraud and Abuse
- Real-life examples of fraud in nonprofit environments.
- Cyber-security risks of fraud that can impact nonprofits