Detecting and Investigating Financial Statement Fraud 2015 is a conference that provides in-depth review of financial statement fraud - what it is, who commits it, assessing fraud risks..
Topics
- Recent studies regarding financial statement fraud
- ACFE Report to the Nations
- Treadway Commission (historical context)
- Large accounting firm studies
- Introduction
- Overview of financial statement fraud
- Financial statement fraud versus asset misappropriation fraud
- Prevention, detection, investigation, resolution
- Recent studies and related materials regarding fraudulent accounting
- Common financial statement fraud schemes
- Accounts receivable and billing
- Revenue recognition: fictitious revenues, round trip transactions, bill and hold, contract backdating and premature recognition (cutoffs), channel stuffing, topside journal entries, capitalizing associated expenses, side letter agreements
- Frauds associated with estimates, fair values, and impairments
- Inventory frauds: purchasing, inventory counts, and raw materials schemes
- PP&E frauds: misclassification and manipulation
- Who commits financial statement fraud and why
- Personality and other traits
- The face of fraud
- Roles of the CEO and CFO in many financial statement frauds
- The fraud triangle: incentives to commit fraud, opportunity, and rationalization
- Red flags for financial statement fraud
- Deteriorating business conditions
- Material deviations from past performance
- Business structure complexity
- Unusual, complex and related party transactions
- Other red flags
- Fraud risk assessments
- Assessing the company and its environment
- SAS 99 risk factors; PCAOB audit standards No. 8 through 15 on fraud risks
- Significant accounts, transactions, and processes, including the financial statement closing process
- Brainstorming sessions: internal and external auditors
- Risks of management override and circumvention
- Preventive and detective controls
- Internal responses to assessed fraud risks
- Testing and monitoring controls
- Real-life financial statement frauds and case studies
- Satyam Computer Services
- Computer Associates
- Rino International
- Diageo plc
- Longtop Financial Technologies
- Monster Worldwide
- Case study: ABC Corporation stock reaches new high, but&hellip
- Diebold, Inc
- Case study: PPQ, Inc. internal audit department discovers red flags
- Preventive and detective controls and techniques
- Whistleblower hotlines and rewards
- Anti-fraud training
- Mandatory vacation policies
- Surprise audits
- Inquiries within the organization
- Preventive controls
- Trend analysis
- Analysis of the financial statements and significant accounts
- Tests of processes
- Analytics
- Auditing procedures
- Document examination
- Computer forensics
- Investigating background and educational claims
- Creating an ethical business culture
- Meaningful actions
- "tone at the top"
- Creating a positive corporate culture
- Adelphia Communications
- How to create an effective anti-fraud environment
- Disclosure controls
- Establishing and monitoring internal controls
- Preventive controls
- Segregation of duties
- Fraud education and awareness
- Use of internal audit function
- Fraud incident responses
Who should Attend
- Public practitioners who provide audit, forensic accounting and investigative services
- Executive officers, industry controllers and accountants, internal audit personnel, finance professionals
- Regulators who investigate and/or prosecute financial statement fraud
- Analysts who analyze or report on financial statement fraud
