Fraud Trends – Applying Real-life Lessons to Small and Mid-Size Entities

Fraud involves an intentional act to deceive, which may result in material misstatement in the financial statements due to fraudulent financial reporting or misappropriation of assets. Management’s responsibility is to design, implement, maintain and monitor a system of internal control to prevent, or detect and correct, fraud. This module will focus on real-life and practical examples of fraud in smaller- and mid-size environments, including nonprofits.

Major Topics:

• Fraud trends per the most recent Association of Certified Fraud Examiners (ACFE) Annual Report on Fraud and Abuse
• Real-life examples of fraud in nonpublic entity and nonprofit environments
• Cyber-security risks of fraud