Instructor for this course

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


Learning Objectives

  • Discover and discuss the cause and impact on real-life fraud cases.
  • Explore and explain what to be alert for in an audit in order to identify fraud potential.
  • Recognize and focus on real-life and practical examples of fraud in smaller- and mid-size environments, including nonprofits.
Last updated/reviewed: June 5, 2021

Included In Certifications

This course is included in the following Certification Programs:

13 CoursesAudit Training Level 3 - In-Charge/ Senior

  1. Fraud Trends - Applying Real-life Lessons to Small and Mid-Size Entities
  2. Reviewing Workpapers - Embracing Responsibilities for Quality Control
  3. Advanced Audit Planning Concepts - Ensuring an Effective and Efficient Audit
  4. Internal Controls to Mitigate Financial Reporting Risk - Designing Stronger Internal Controls for Small or Mid-Size Entities
  5. Auditing Revenue Recognition - Grasping the Higher Risks and Special Audit Considerations
  6. Auditing Contingencies and Going Concern Uncertainty - Testing for Completeness and Proper Disclosure
  7. Audit Reporting Advanced Concepts - Understanding the Impact of General Audit Procedures on Disclosures and Audit Report Modifications
  8. Critical Traits of a Thinking Auditor - Stretching Experienced Auditors Beyond the Basics
  9. Client and Engagement Management - Managing the Black Holes that Erode Profitability
  10. Supervisor Skills - Coaching Staff to Stay on the Right Track
  11. Professional Ethical Considerations for CPAs
  12. Accounting Update - Hot Topics for Preparing Current Period Financial Statements
  13. Auditing & Attest Update - Hot Topics for Current Period Audits and Other Attest Services

7 Reviews (39 ratings)Reviews

Member's Profile
Good statistical data regarding fraud. Would be interesting to see trend adjustments as more automation in various industries and activities, as well as the impact of the covid pandemic. Would be more interesting with more real world examples/stories.
Member's Profile
Very interesting course that covers common frauds and recommended best practices to prevent fraud. I enjoyed seeing all the statistics included in the course.
Member's Profile
Good information for me since I work in a small business. Will be able to apply to my job to try and look for unusual transactions.
Anonymous Author
Way to much emphasis on statistics and not enough focus on tools and techniques to prevent fraud.
Member's Profile
This course is very thorough and helpful, especially for those working in a smaller company.
Anonymous Author
Great course. Love this kind of information! Good for those interested in forensics.
Member's Profile
Reasonably well-planned orientation for the topic. Easy to understand and follow.


Course Complexity: Intermediate

Prerequisite: Experience on basic audit engagements
Designed For: Accountants responsible for advising audit clients on how to prevent or detect fraud, as well as identifying and responding to fraud risk.

Education Provider Information

Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
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
  0:46Learning Objectives for Fraud Trends
  6:10Analysis of Victim Organizations
  6:27Fraud Resolution
  13:46Most Common Fraud Schemes
  9:33Nature of Fraud Perpetrators
  9:47Behavioral and Other Red Flags
  5:57How is fraud detected
  16:41Anti-Fraud Controls
  15:01Focus on Cyber Crime
  7:52Virtual Account Access Risk Mitigation
  1:39:36Fraud Trends-Applying Real-life Lessons to Small and Mid-Size Entities
  PDFSlides: Fraud Trends - Applying Real-life Lessons to Small and Mid-Size Entities
  PDFFraud Trends - Applying Real-life Lessons to Small and Mid-Size Entities Glossary/ Index