21WA-4382: ACPEN Signature: 2021 Business Fraud Update (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Wednesday, September 22, 2021
9:00am - 5:00pm Central Time
8 CPE (8 technical)

Fraud Happens; and it can happen to your organization. The public expects accountability professionals to be the first line of defense against fraud. To meet this expectation, accountants, internal auditors, external auditors, and risk management professionals need to develop the skills needed to prevent, detect, and deter fraud.
According to the Association of Certified Fraud Examiners (ACFE), the typical organization loses about 5% of its revenues each year due to fraud. So, an organization with $10,000,000 in revenue would lose about $500,000 in revenue -- and profit, because the lost revenue goes right to the organization’s bottom line. If that organization had a profit rate of 15%, it would need to generate about $3,333,000 in additional revenue to recover those lost profits. The impact of fraud is almost always devastating and can be catastrophic.
Why do organizations continue to be so vulnerable to fraud? One reason is that most organizations simply do not think fraud can happen to them. They think that fraud only happens to other, not-as-well-managed organizations. So, such organizations do not focus on fraud, fraud prevention, fraud detection, and fraud deterrence. Then, when fraud happens to them, senior management and those responsible for governance immediately try to find someone to blame besides themselves. The scapegoat is often the very accountability professionals -- accountants, internal auditors, external auditors, risk management professionals -- who tried to warn them about fraud vulnerabilities and the importance of proactive fraud risk management. The accountability professional needs to (a) remain at the cutting edge of knowledge about fraud and (b) constantly warn management and those charged with governance about fraud risks.
The 2021 Business Fraud Update is another fast-moving seminar that will provide a comprehensive look at the latest developments about fraud from the technical, legal, and operational perspectives and update participants on the most recent legal and regulatory developments in this important area of professional responsibility. The update will cover:
-What’s New in Terms of Accounting, Auditing, and Fraud?
-COVID-19 and Related Health Care Fraud.
-Data Analytics -- A Key to Proactive Fraud Prevention and Detection.
-ACFE COVID Benchmarking Reports and the ACFE Report to the Nations.
-The legal landscape.
Our panel of legal experts (prosecutors and white-collar defense lawyers) will weigh in on these emerging issues from their special points of view. Participants will learn and master new skills for meeting their professional, legal and ethical responsibilities to make reasonable efforts to deter, prevent, and detect fraud.
Once again, our panel of experts will re-enact a fraud role-play scenario designed to illustrate what happens and what can happen when an organization is victimized by fraud.
Business fraud happens. This program will help accountability professionals manage the risk of fraud effectively and proactively and give them the tools they need to keep senior management and governance officials apprised of the importance of constant vigilance regarding fraud risks and the need for proactively managing fraud risk.

Major subjects

• Business Fraud
• Accounting and auditing developments related to fraud detection responsibilities
• COVID/CARES Act/PPP fraud and ACFE’s Benchmarking Reports
• The ACFE Report to the Nations
• Fraud Risk Management and Fraud Risk Assessments
• Data analytics
• Money laundering and AML initiatives
• Digital analysis

Learning objective(s)

• Provide a comprehensive look at fraud risk management from the technical, legal, and operational perspectives and update participants on the most recent legal and regulatory developments pertaining to fraud deterrence, prevention, and detection

Who should take this program?

Industry and Government Accountability Professionals, Certified Public Accountants, Risk Management Professionals

Fees

Standard Member Fee	$225.00
Standard Nonmember Fee	$225.00