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The Association of Certified Fraud Examiners (ACFE) has introduced the concept of a fraud tree.  The tree delineates three major categories of fraud as:

  • Corruption
  • Asset Misappropriation
  • Financial Statement Fraud

This course will evaluate the concepts that fall within asset misappropriation and are directly related to the fraudulent disbursements component of the fraud tree.  We will examine the various components of corruption and solutions that can be used to mitigate corruption impacts.

Fraudulent disbursements are the most common form of asset misappropriation. They occur when an employee uses his position of employment to cause a payment for some inappropriate purpose. The fraud tree breaks fraudulent disbursements into the following categories:

  • Billing
  • Payroll
  • Expense reimbursement
  • Check tampering
  • Register reimbursements

 

Each scheme has its unique characteristics depending on the industry the fraudulent act is perpetrated in. This session will delve further into each of these methods and provide possible solutions to mitigate frauds of this type.

Learning Objectives

Explore the definition of fraudulent disbursements and recognize how they impact a business.

Explore the various types of fraudulent disbursements and identify potential solutions for each category including:

  • Billing
  • Payroll
  • Expense reimbursement
  • Check tampering
  • Register reimbursement
Last updated/reviewed: November 6, 2019

Included In Certifications

This course is included in the following Certification Programs:

11 CoursesBusiness Fraud Identification and Prevention Certification

  1. Introduction to Forensic Accounting
  2. Dissecting the Fraud Triangle
  3. Fraud: Focus on Corruption
  4. Fraud: Focus on Fraudulent Disbursements
  5. Fraud: Focus on Cash Component of Asset Misappropriation
  6. Fraud: Focus on Inventory
  7. Fraud: Focus on Financial Statement Fraud – Part One
  8. Fraud: Focus on Financial Statement Fraud – Part Two
  9. Fraud and COSO 2013
  10. Top Fraud Schemes
  11. Fraud Risk Assessments

20 Reviews (84 ratings)Reviews

5
Anonymous Author
A great refresher course regarding fraudulent expense disbursements. It discusses the different types of fraudulent expenses, as well as, the techniques on how to identify these red flags and the best solutions on how to manage them.
4
Anonymous Author
Another great fraud course from Lynn Fountain - the material was logical organised and clearly presented, moved at an appropriate pace and included real-world situations where such fraud schemes occurred.
5
Member's Profile
GREAT OVERVIEW FOR AN ORGANIZATION
5
Anonymous Author
This portion of the ACFE Fraude Tree provides valuable information that defines and supports the various areas of Fraud Disbursements. Great course!
5
Member's Profile
Excellent like all your courses. The course goes into specific details which help the auditor to perform his/her work more efficiently.
4
Member's Profile
The course really explained the situations of fraudulent disbursements very effectively. Provided a lot of knowledge on this subject
5
Anonymous Author
This course was beneficial for me as I analyze the various disbursement processes at my company in my risk management role.
5
Member's Profile
Covers a lot of ground. Very thorough review. Suggestions take time to implement, but are well worth the effort.
5
Anonymous Author
A topic for internal auditors to consider and implement. Detailed presentation with good and usable examples.
5
Anonymous Author
Good overview of the topic - well presented with useful handouts for future reference. Good series on fraud.
4
Anonymous Author
The material is very concise and very helpful for those who are doing internal controls documentation.
5
Member's Profile
I really like all of Lynn's classes. This is another good one. Do yourself a favor and take it.
5
Anonymous Author
This course was well prepared and well presented with excellent insights and practical examples.
5
Anonymous Author
Very informative.Got to know how the internal controls can be weakened for fraudalent benefits
4
Anonymous Author
It was good to be reminded of the types of fraud and what to look out for
5
Anonymous Author
Class was very informative. Clear and concise examples used.
4
Member's Profile
Great review and refresher on Fraudulent Disbursements.
5
Anonymous Author
Very good presenter. Provides good detail and examples.
5
Member's Profile
Good overview of fraud as it relates to disbursements.
5
Anonymous Author
Thorough overview of Fraudulent Disbursements Fraud

Prerequisites

Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  4:41Introduction to Fraud Tree: Focus on Fraudulent Disbursements
Focus on Fraudulent Disbursements
  7:40Fraudulent Disbursements
  13:18Billing Solutions
  4:14Payroll Schemes
  13:59Ghost Employees
  6:03Commissions & Workers Comp
  4:12Inflated Payments Timesheet Fraud
  2:58Worker Misclassification
  8:13Expense Reimbursement
  10:01Check Tampering
CONCLUSION
  6:49Register Disbursements
CONTINUOUS PLAY
  1:22:06Fraud Tree: Focus on Fraudulent Disbursements
SUPPORTING MATERIALS
  PDFSlides: Fraud Tree: Focus on Fraudulent Disbursements
  PDFFraud Tree: Focus on Fraudulent Disbursements Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM