Employee Fraud: The Misappropriation of Assets

Author: Robert K Minniti

This three CPE hour course explores many of the way’s employees can commit fraud, especially the types of fraud that use documents to skirt internal controls. We will consider embezzlement schemes, theft schemes (Cash, inventory, data, and fixed assets), and will examine how employees conceal these frauds. We will review the red flags for employee fraud. Real world examples will be provided for the participants to see how this is occurring in the business world. This course is designed for individuals who would like to refresh their understanding of employee fraud schemes and to learn how to recognize the red flags for detecting employee fraud. Understanding how employees commit fraud is the first step in preventing fraud.

This course is designed to be a refresher course for CPAs, CFEs, CFFs, CIAs, CMAs, MAFFs, CGMAs, internal auditors, external auditors, managers, business owners and others in the accounting field.

Publication Date: November 2023

Designed For
CPAs, CFEs, CFFs, CIAs, CMAs, MAFFs, CGMAs, internal auditors, external auditors, managers, business owners and others in the accounting field.

Topics Covered

• Fraud Review
• Employee Fraud in the News
• Red Flags for Employee Fraud
• Internal Controls
• Reporting Fraud
• Post Fraud Reactions

Learning Objectives

• Identify ways to prevent employee theft
• Identify common fraud schemes
• Recognize how to design internal controls to help prevent and detect employee theft
• Identify the year the Treadway Commission Report was released
• Identify how much employee theft costs business per year
• Identify the statute of limitations for PPP and EIDL loan fraud
• Identify the unusual item misappropriated from Harvard
• Identify where most fraud tips come from

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (3 hours)

Program Prerequisites
None

Advance Preparation
None