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The concept of fraud is all around us.  As technology continues to advance, so do the methods used to perpetrate fraud.  In addition, the fraudster seems to be getting more intelligent and developing innovative ways to plague businesses and individuals.

In today’s world, internal controls are a critical element to allow organizations to prevent and detect fraud.  Without proper internal controls, the “opportunity” portion of the fraud triangle is exposed.  It becomes an area where employees and other professionals can take advantage and perpetrate fraud.

This course review the top internal controls organizations can use to prevent and detect fraud. A great deal of information and statistics is taken from the Association of Certified Fraud Examiners (ACFE) 2016 Report to the Nations. Other good resources include the Kroll Fraud Report and the Committee of Sponsoring Organizations fraud guidance at COSO.org

Learning Objectives

  • Explore the internal control connection to fraud.
  • Recognize the characteristics of organizations that fall victim to fraud.
  • Explore the importance of fraud awareness.
  • Identify the most frequently used fraud controls.
  • Explore the most successful detection methods for fraud.
  • Explore anti-fraud methods at victim organizations.
Last updated/reviewed: November 19, 2019

100 Reviews (402 ratings)Reviews

5
Anonymous Author
Great course and reminder of the importance of internal controls and controls that specifically address fraud risks.
5
Member's Profile
Good wording, easy to understand, well explained on fraud detection method, nice examples are used, great webinar.
4
Anonymous Author
This course is helpful and a good refresher. The time allotted is sufficient to cover all the relevant topics associated with the course. The instructor is very good and knowledgeable. The examples provided in each topic is also very helpful and the slides provided is very well summarized. This course is highly recommended.
4
Anonymous Author
I am a new internal auditor and found this to be very beneficial to the understanding of my job. However, I think there should be an update to include relevant tips to IT auditors considering the associated risks for fraud related to information security.
5
Member's Profile
I found the statistics on methods for detecting fraud at victim organizations to be highly useful. Very useful to have some hard data on the rate of different fraud types, median cost, and most frequent/successful methods for detecting fraud. Thank you.
4
Member's Profile
This course provides an overview of the basics regarding fraud detection and fraud awareness. The information is helpful in reminding professionals that internal controls is not a static process but something that must be improved continuously.
5
Member's Profile
The course was very clear and informative. I enjoy that Lynn includes the video of herself presenting the information. For visual people like myself, just seeing a bunch of bullet points in a presentation is not very effective.
5
Anonymous Author
As a Payroll Manager with 140+ separate entities, I am always looking for ways to audit payroll data for fraudulent activity. This course gave me ideas for things we could do to curtail and detect fraudulent activity.
5
Anonymous Author
This is another excellent course from my favorite instructor. This is a great course for any Accounting/Finance professional to take, to help broaden awareness of the controls needed to mitigate the risk of fraud.
4
Anonymous Author
A great course on fraud - full of insightful discussion and real-world examples. The data from the fraud survey extremely was well-incorporated! A great course that brings the fraud concept freshly into focus.
5
Anonymous Author
I loved this course. I have never worked in audit or internal control, but this course was a great refresher on fraud. This course has been one of my favorites with Illumeo with very practical information.
5
Anonymous Author
The instructor did a great job teaching about fraud and how we can combat them with internal controls in are industry. She did a great job with a high level overview and what that looks like in practice.
5
Member's Profile
Very thorough CPE. I really liked how the discussion was framed and the tone for communicating tone at the top. Also, I learned a lot about communicating what works and what doesn't work and why!
5
Anonymous Author
Really enjoyed this course. Very thorough and good for novice auditors and as a refresher for experienced ones. Like the instructors thought provoking technique used throughout the presentation.
5
Anonymous Author
This course materials were relevant and very important to my work. The knowledge gained from this course will be very beneficial in my job. I will definitely recommend this course to others.
4
Member's Profile
I really liked the breadth of the discussion. It will certainly help in developing fraud policy as well as Fraud prevention programs, including developing employee awareness of red flags
5
Anonymous Author
Great primer to fraud awareness, controls and detection. Provided external sources and data points, personal experiences and practical steps for implementing controls and processes.
5
Anonymous Author
Great introductory course on fraud and the main internal controls that historically help entities lower their fraud risk. Also good for understanding passive & active detection.
5
Anonymous Author
Good pace and content. Some key learning points provided about fraud prevention that I was not aware of and useful stat's that can be used for persuading management.
5
Anonymous Author
Excellent instructor! She provided good examples and details of the elements of effective fraud awareness and the top controls to implement to reduce fraud losses.
5
Member's Profile
Fraud: Focus on Internal Controls to Prevent and Detect Fraud is a good overview course. The instructor used good examples and highlighted good outside resources.
4
Anonymous Author
The speaker discussed a great deal about the different concealment methods. This is a good wake-up call for management to pro-actively manage their fraud risks.
5
Anonymous Author
This course provided a helpful overview of the importance of internal controls. It also provided reminders of how vital 'hotlines' are in detecting fraud.
5
Member's Profile
Very informative, utilizing ACFE recommended and supported Fraud methods. It is focused and to the point without any unnecessary strolls out to left field.
5
Member's Profile
An excellent introduction to understanding fraud and the basic elements that companies should have in place to detect and prevent fraudulent activity.
4
Anonymous Author
Good overview of the topic of fraud, including the occurrence, controls and detection of opportunities for fraud. Easy to understand and follow.
4
Member's Profile
This is a well laid out review of fraud and internal controls. I found it helpful and can apply some of the knowledge to my current position.
4
Member's Profile
It covers key internal control concepts to detect and prevent fraud. I like the fact that, it is presented in a simple and intuitive manner.
5
Member's Profile
It remind me again that well established internal control system in a company contribute to protect a company from any wrong incident.
4
Member's Profile
Great course review on internal controls and preventing fraud. Lists some important information on preventing and detecting fraud.
5
Member's Profile
I really learned a lot about the internal control methods and effectiveness to prevent fraud at different types of institutions.
5
Anonymous Author
The course did a nice job of outlining the foundation of fraud and the various techniques/tools to identify and detect fraud.
5
Member's Profile
The course provide very informative methods of preventing and detecting fraud. This course also provide very helpful examples
5
Member's Profile
Excellent course on internal controls. A great overview of the importance and use of controls to prevent and detect fraud.
5
Member's Profile
Fraud, focus on ICs to Prevent and Detect Fraud was a great course. This is a great way to refresh my ACFE certification!
4
Anonymous Author
A worthwhile course which I found very informative on the topic of fraud and the controls used to prevent and detect it.
5
Member's Profile
INTERESTING STATISTICS AND DETECTION POLICIES - CONTINUALLY CHANGING CLIMATE AND CHALLENGES
4
Anonymous Author
Highly recommended this course for auditors learning to look for fraud gaps and analyzing organizational controls.
5
Anonymous Author
same comment as before. not sure why i need to write a review comment. For what it's worth, i enjoyed Lynn.
5
Anonymous Author
Легко читается, легко усваивается. Спасибо, было интересно.
4
Member's Profile
Great review regarding Fraud and what to look for to detect Fraud. Highly recommended course for auditors.
5
Anonymous Author
This was a great a refresher and provide background data. I was hoping for more current stats than 2016.
5
Member's Profile
This course was thorough and thought provoking, so much so that I have a list of action items to revisit.
5
Member's Profile
good overview of the topic. highlights important proactive steps and provides examples of bad practice.
4
Anonymous Author
Helpful and practical information for today's audit professional that helps add value to audit clients.
5
Anonymous Author
A very thoughtful and well presented overview of the topic with practical and thought-provoking advice.
4
Anonymous Author
Great course, covered the essentials of the topic and the price was great as well, would recommend it!
5
Anonymous Author
I liked to learn about some statistics related to fraud and best practices how to timely catch fraud.
5
Anonymous Author
This course was a solid overview of fraud. The content on the use of data analytics was very useful.
5
Anonymous Author
Very detailed review. Instructor provided real-world examples that made this topic more interesting.
4
Anonymous Author
Interesting data on real frauds perpetrated and how they were discovered. Hotline seems to be key.
5
Member's Profile
The course was very informative. Topics are relevant and applicable to every workplace. Thank you!
3
Member's Profile
Provided good information from the ACFE 2016 report on fraud prevention and detection statistics.
5
Member's Profile
good overview. quiz is difficult and knowledge is expected to be high. should take this annually.
5
Member's Profile
I'm doing this course while two guys in my department are California Dreamin'. Move back there!
5
Anonymous Author
Very insightful with some very useful sources of additional information that will come in handy.
4
Anonymous Author
In this course there are some interesting tips on fraud controls that I would like to practice.
5
Member's Profile
Excellent course. this class provided really good insights into fraud techniques and detection.
5
Member's Profile
Some different perspectives on the fraud prevention courses I have taken before. Interesting.
4
Anonymous Author
Lynn is a great instructor. I look forward to hearing and seeing more of her exciting content.
5
Member's Profile
The lecture was interesting, and the lecturer seemed invested in the discussion. Great class.
4
Anonymous Author
very good information and processes that every company should put into place to prevent fraud
4
Anonymous Author
The statistics regarding companies subject to fraud are very interesting. Good presentation.
5
Member's Profile
This course was easy to take. and the supporting materials helped in passing the final exam.
5
Anonymous Author
Good and holistic overview of fraud. Relevant to auditors, risk management personnel, etc.
5
Anonymous Author
This course gave good pointers on how to facilitate anti-fraud measures in an organization.
5
Member's Profile
This course is very helpful in understanding the most effective types of fraud prevention.
5
Anonymous Author
Another great course by Lynn! Lots of good information broken down in digestible pieces.
5
Anonymous Author
A very good course on a very relevant topic. I was very interested in this subject.
5
Anonymous Author
I really enjoyed this course!!! Very good information and was presented very well.
4
Member's Profile
A lot of good fraud information, interesting statistics, and good recommendations.
4
Anonymous Author
Good course with basic internal controls information. Slides had good data also.
5
Anonymous Author
Very eye opening course and put lots of things into perspective. Great refresher!
4
Anonymous Author
This was a good course on what fraud is and how it can be detected and prevented
5
Member's Profile
Great information that will challenge your thinking. I like the course content.
4
Member's Profile
This course gave great examples of methods to put into place to prevent fraud.
5
Anonymous Author
Good information. Very helpful. Worth the time it takes to listen and review.
5
Member's Profile
I enjoyed this course. It taught me a lot about fraud and internal controls.
5
Member's Profile
great content. I will definitely recommend to organizations and colleagues.
5
Member's Profile
Good information on Friday and more importantly fraud prevention techniques.
5
Member's Profile
This course provides a detailed materials on preventing and detecting fraud.
5
Anonymous Author
Hotline tips were my biggest takeaway along with great data analytics tips.
5
Anonymous Author
this was a great course that has helped better my understanding of fraud
3
Anonymous Author
interactive and useful courses that includes different fraud scenarios
5
Anonymous Author
Good recommendations and tips to use in workplace, relevant examples
5
Member's Profile
Ms. Fountain is a thoughtful, thorough and informative instructor.
5
Anonymous Author
Great course for learning about fraud and anti-fraud techniques.
5
Anonymous Author
Excellent class for introducing the concepts of managing Fraud
5
Member's Profile
Good course. This was at the right level for a non-practioner.
4
Member's Profile
Good course. I recommend for everybody to enroll this course.
5
Member's Profile
I enjoyed the detail description of fraud detection methods
5
Anonymous Author
Good course and even better questions. Logically organized.
3
Member's Profile
Great review and reminder about fraud detection techniques.
4
Anonymous Author
The instructor provides good overview of the information.
5
Anonymous Author
Complete summary of controls to prevent and detect fraud
3
Anonymous Author
well thought out and acceptable for cpe review purposes
5
Member's Profile
Very thorough review which provides current information
5
Member's Profile
There are lots of details about fraud in this course.
5
Member's Profile
This course was a good refresher on fraud detection.
4
Anonymous Author
Some really helpful ideas and good background info.

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 .

3 QuestionsCourse Questions and Answers

Member's Profile

Hello Lynn. I really enjoyed your presentation. Do you cover in another course what to do when a company has found fraud? I am guessing there would be a list of procedures & rules of evidence to follow. Thank you

Member's Profile

Hi Bev. Thank you for the note. I have a whole series of courses in fact I have a certificate program on Fraud with Illumeo. If you look at the certificate program you will see manybof my Fraud courses. A couple are private just for certificate subscribers. But I have at least 20 hours of courses open on Fraud. The best way to find them is to see the certificate link highly suggest the certificate course if your budget allows.

Member's Profile

not sure if i filled out the valuation correctly, taken earlier today.
i should have filled out all "excellent". i suspect i completed the wrong end of the spectrum. i apologize if i did.

Course Syllabus
INTRODUCTION AND OVERVIEW
  3:52Introduction to Fraud: Focus on Internal Controls to Prevent and Detect Fraud
Prevent and Detect Fraud
  6:29Internal Control Connection to Fraud
  17:39Fraud Awareness
  5:11Victim Organizations
  4:01Concealment Methods
  1:29Top Controls to Implement
  13:53Data Analytics
  4:12Management Review
  10:42Hotlines
  4:49Fraudulent Documents
  7:54Document Destruction
  6:39Other Controls
  12:00Detection
CONCLUSION
  2:02Conclusion
CONTINUOUS PLAY
  1:40:53Fraud: Focus on Internal Controls to Prevent and Detect Fraud Continuous Play
Supporting Materials
  PDFSlides: Fraud: Focus on Internal Controls to Prevent and Detect Fraud
  PDFFraud: Focus on Internal Controls to Prevent and Detect Fraud Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM