Fraud Risk

Misappropriation of Assets v3.0

In this course, you will learn techniques to identify, detect and prevent asset misappropriation. Asset misappropriation schemes, while not the largest from a dollar standpoint, are the most common type of occupational fraud. The fraud triangle will be discussed in the context of these schemes. The absence of strong internal controls often provides the opportunity element of the fraud triangle. Pressure and rationalization, the other elements of the fraud triangle, are unique to the individual. Strengthening internal controls, particularly segregation of duties, helps to prevent future asset misappropriation in the organization.

Learning Objectives:

After completing this course, the course participant should be able to:

  • Define misappropriation of assets
  • Summarize the 2018 Report to the Nations, Association of Certified Fraud Examiners
  • Describe the fraud triangle in the context of misappropriations of assets
  • Identify common internal control weaknesses
  • Identify and describe common misappropriation of assets frauds


Prerequisites/Advanced Preparation:

None


Speaker / Author:

John M. Fleming, licensed as a CPA in Pennsylvania, has served as the President and Director of Accounting and Auditing for Kaplan Financial Education, powered by Loscalzo Institute and also as the Director of Content Development for Kaplan Financial Education, powered by SmartPros. John retired from Kaplan in October of 2017. In retirement, John continues to provide seminars as a discussion leader for Kaplan Financial Education on a part-time basis.

John's prior practice experience includes audit, tax, consulting, office management, and human resource responsibilities with Deloitte LLP, Richard Eisner & Company LLP, and Ernst & Young LLP. John is a graduate of LaSalle and Drexel Universities with degrees in accounting and finance.

John served as the 1999/2000 President of the 8,300 member Greater Philadelphia Chapter of the Pennsylvania Institute of Certified Public Accountants (PICPA). In 2006, the PICPA recognized John as a Joseph E. Sterrett Fellow for his contributions to the accounting profession and in 2007, the Philadelphia Chapter recognized John with their Champion Award for his contributions to the PICPA, Chapter, profession and community. John has also served as the 2002/2003 President of the American Accounting Association's Mid-Atlantic Region.

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Price (USD)

Standard: $24.95

Details

Course Code : 99FLE08-v3

Release Date : 06/11/2024
Expire Date : 05/31/2026
Credits :
CPE 1.00
QAS 1.00

Length : 50min
Course Level : Basic
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Auditing

Theme : Fraud Risk

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