FR-110 CORPORATE FRAUD AND LESSONS LEARNED: HOW TO AVOID JOINING THE RANKS OF THE DISGRACED

FR-110 CORPORATE FRAUD AND LESSONS LEARNED: HOW TO AVOID JOINING THE RANKS OF THE DISGRACED

DESCRIPTION

Corporate fraud and scandal go back as far as the existence of organizations. This class will take you through the parallel histories of corporations and corporate frauds, taking an in-depth look at the biggest corporate frauds in history and the resulting changes to the regulatory and the legal environment. The sometimes shocking, sometimes appalling, and occasionally hilarious stories of America’s most known, some little known, and several forgotten corporate fraud cases will provide you with insights on how these frauds occurred and how they could have been prevented. The course will walk you through the fraud cases, the characters involved, and how these cases have helped shape not only the American business environment, but the global environment as well. This course will provide the basics of fraud using fascinating and entertaining real-world case studies, including some of the instructor’s personal large-scale fraud cases.

 

This course is interactive, and the fundamentals will be taught through a combination of lecture, group and individual exercises, and class participation.

LEARNING OBJECTIVES:

  • Understand fraud fundamentals
  • Understand the Fraud Triangle and the behavioral aspects underlying the triangle
  • Understand the basic characteristics of a fraudster
  • Commonly found fraud schemes and scenarios
  • Review changes to the American regulatory environment because of corporate fraud
  • How to detect and prevent such frauds in your organization

 

COURSE OUTLINE

Fraud Fundamentals

  • Fraud Triangle
  • Fraud and corruption statistics
  • Fraudster characteristics

Fraud Schemes and Scenarios

  • Corruption
  • Financial statement fraud
  • Asset misappropriation—cash
  • Asset misappropriation—inventory and other assets

The Big Ones

  • The facts (and myths) behind America’s largest corporate fraud scandals
  • Fraud Parade: the top 10

How Corporations came to be, and how they encouraged fraud

  • How it all started—a brief history
  • The first recognized corporate frauds

Federal and State Regulations and the Fraud Cases That Changed the Law

  • The railroad “robber barons”
  • Role of investment banking
  • Game changers—Enron, Worldcom, Tyco, Subprime Mortgage, etc.

Instructor’s Personal Fraud Cases

  • Local domestic | Foreign | Federal
  • The Fraudsters – who they are, what they did…and where they are now

The Seemingly Impossible and the Almost Unbelievable

  • Bizarre fraud cases
  • When companies choose not to prosecute
  • Founder fraud

Fraud Prevention and Detection: Not Letting This Happen to You

  • Fraud risk assessments
  • Fraud prevention and detection programs
  • Internal investigations
Duration

CPE

Delivery

Field

Level

Who Should Attend

 

Prerequisites

Advanced Preparation

2 Days

16

Group-Live

Auditing

Intermediate

Internal auditor staff and management, fraud auditors and investigators, accounting staff, and management

2 years of professional experience

None