Fraud Overview and Prevention

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Overview

2.0 Credits
ONLINE

No one wants to believe that they or their not-for-profit (NFP) could be the victim of fraud, but unfortunately no one is immune. In this CPE course, you will work through real world examples to understand fraud schemes and errors that are found in not-for-profit organizations. You will learn how an NFP's board and management can implement effective internal controls to address the risk of fraud and so that such issues are more likely to be prevented or detected in a timely manner.

Objectives

  • Identify the unique characteristics of and situations that exist in NFPs that create or increase the potential for fraud;
  • Indicate how traditional fraud programs and controls may be adapted to respond to fraud risks that are unique to NFPs;
  • Recognize the areas where fraud typically occurs in NFPs; and
  • Recall how to effectively respond to common fraud risks in NFPs.

Major Topics

  • Unique characteristics of NFPs
  • Fraud basics
  • Fraud triangle
  • Profile of a fraudster
  • Financial reporting fraud risks in NFPs
  • Misappropriation of assets fraud risks in NFPs
  • Procurement and contracting frauds
  • Cash receipts fraud
  • Fraudulent disbursements
  • Personnel frauds
  • Property, plant and equipment frauds
  • Diversion of program benefits and assets

Designed For

CPAs, financial professionals and NFP board members involved in assurance and fraud prevention and detection.
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