Mobile Edition

The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them (AITMCF04)

Date:Friday, September 6, 2019
Time:1:00 PM - 5:00 PM
(Registration at 12:30PM)
Facility:Webcast or Webinar, Online
CPE Credit:4.0 Accounting and Auditing
Instructor: Glenn Helms
Course Level:Intermediate
Early Bird Price:$179.00 FICPA Members, $229.00 Non-Members


Many costly fraudulent schemes have occurred repeatedly throughout the past several decades. Why do these material fraud schemes continue to succeed? Is this due to failures of properly designed internal controls? Could the internal controls be adequate but not complied with? This course provides descriptions of how the most common types of financial statement and misappropriation of asset fraud schemes are detected. Cost-effective internal controls that can be implemented to prevent these schemes are provided. Classic and contemporary real-world fraud cases are reviewed in detail to reinforce how these schemes are perpetrated, both due to internal control failures and other factors. Red flags that might possibly be indicative of these fraud schemes are addressed.


When you complete this course you will be able to:

- Identify the schemes used to misstate revenue, inventory, asset overstatements, estimates, and other accounts.

- Distinguish suspicious journal entries.

- Determine the red flags associated with fraud schemes concerning revenue, inventory, asset overstatements, estimates, and other accounts.

- Apply analytical procedures to detect various types of fraud.

- Compare particular fraud schemes to landmark cases.

Major Topics:

Topics Discussed

- Major financial statement frauds including, among others, sales and other types of revenue, estimates, journal entries, and other accounts

- Major misappropriation of asset fraud schemes including skimming, larceny, and additional schemes that occur in inventory, payables, and other accounts

- Review of landmark cases where the fraud scheme(s) occurred: -

WorldCom, Phar-Mor, McKesson and Robbins, Waste Management, MiniScribe, Stew Leonard, and others

Who Should Attend:
Business owners, managers, supervisors, employees, accountants and auditors

Experience in accounting and reporting


If listed below, select the appropriate sessions or options to continue with your purchase.

Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.