ACPEN: The Many Faces of Fraud

Overview

What does fraud look like? It depends. What may appear to be an indicator of fraud in one client’s operation could be normal in another, making it critical to understand your client and the transactions you expect to see. Look for what should be present but isn’t—and for what is present but shouldn’t be.

This course emphasizes the importance of professional skepticism, which has no on/off switch—it must be applied continuously. As auditors, our role is to independently verify, yet too often we rely on client representations without sufficient validation, increasing the risk of missing fraud.

Many auditors recognize, in hindsight, that they have encountered fraud indicators but failed to identify them at the time. This session will provide you with the tools to recognize those indicators and strengthen your ability to detect fraud—so you are better prepared for what you may find.

Highlights

• Fraud Indicators
• Fraud Patterns
• Client Operations
• Transaction Analysis
• Independent Verification
• Fraud Recognition

Prerequisites

None

Designed For

External and Internal Auditors; Small Business Owners; Not For Profit Administrators

Objectives

• Explain why fraud can appear differently across organizations and industries.
• Recognize common indicators and warning signs of potential fraud.
• Apply professional skepticism when evaluating client information and transactions.
• Differentiate between normal business activity and suspicious behavior.
• Analyze client operations to identify unusual or inconsistent transactions.
• Use independent verification techniques to validate client assertions.

Preparation

None