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Previous courses have outlined the concepts of fraud as defined by the Association of Certified Fraud Examiners (ACFE) within their fraud tree.  The tree delineates the three major categories of fraud as:

  • Corruption
  • Asset Misappropriation
  • Financial Statement Fraud

Fraud impacts every person and every organization.  Regardless of size, structure, geography, or demographics, every organization is subject to fraud.  Many individuals refer to fraud "red flags." 

These are signs that indicate there is the potential for fraud to occur.  Red flags do not mean a fraud has occurred. 

There are many presentations on “top frauds”. Be cognizant of how the presenter is focusing the discussion. Top frauds could relate to various areas. Examples of top fraud schemes include: financial statement, revenue/disclosures/ presentation, cyber and internet/personal frauds, asset misappropriation, and corruption.

In this course, we review information on the top fraud schemes by focusing on the three categories as defined by the ACFE fraud tree.   We also evaluate the most common schemes by industry as outlined by the ACFE 2016 report to the Nations.

 

Learning Objectives

  • Explore top fraud schemes per the Association of Certified Fraud Examiners (ACFE)
  • Explore top corruption schemes.
  • Explore top financial statement schemes.
  • Explore top asset misappropriation schemes.
  • Identify industries who suffer the highest number of frauds.
  • Identify industries who suffer the highest median loss due to frauds.
Last updated/reviewed: September 18, 2018

Included In Certifications

This course is included in the following Expert Certifications:

11 CoursesBusiness Fraud Identification and Prevention Certification

  1. Intro to Forensic Accounting and Investigation
  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

1 Review (3 ratings)Reviews

5
Anonymous Author
Great information learned and takeaways from this course!

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
  4:53Introduction to Top Fraud Schemes
Top Fraud Schemes
  7:03Asset Misappropriation
  4:44Corruption
  4:26FS Fraud Review
  6:24Top Industries for Fraud
  9:59Top Schemes by Industry
  6:01Asset Misappropriation by Industry
  5:01CPI Index
CONCLUSION
  1:41Summary
CONTINUOUS PLAY
  50:12Top Fraud Schemes
SUPPORTING MATERIALS
  PDFSlides: Top Fraud Schemes
  PDFTop Fraud Schemes Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM