Anti-Fraud Guidelines
Overview:
All financial institutions should take steps to deter fraud to protect their organization. This is one of the reasons why the AICPA, ACFE and the IIA have jointly released new guidelines to fight this threat. This event aims to discuss the warning signs and the methods in executing fraud, alongside the strategies that can be taken to identify and counter this unlawful act. This is a must-attend for financial institutions who intend to eliminate fraud for good.The Knowledge Congress is assembling a panel of distinguished professionals and key regulators to inform financial institutions of the benefits of these guidelines. The speakers will present their expert opinions in a two-hour LIVE webinar
Agenda:
SEGMENT 1:
<strong id="ep-name-of-speaker">Holly Daniels, Technical Director, Standards & Guidance,</strong>
<em id="ep-speaker-firm">The Institute of Internal Auditors</em>
- Managing the Business Risk of Fraud: A Practical Guide
» Project overview
» Five key principles for proactively establishing an environment to effectively manage an
organization’s fraud risk
» Tools and resources
- Fraud Risk Governance
» Roles and responsibilities
» Fraud risk management program components
- What they’re seeing – regulator’s feedback
SEGMENT 1:
<strong id="ep-name-of-speaker">Ronald L. Durkin, CPA/CFF, CFE, CIRA, Senior Managing Director,</strong>
<em id="ep-speaker-firm">Durkin Forensic </em>
- Response
» Receiving and evaluating the allegation
» Investigation protocols
» Importance of independence
- Remediation
» Internal control enhancements
» Separating wrongdoers from the company
» Education & training
» Continuous auditing and monitoring
- Detection
» What methods of detection work best?
» What is the “fraud du jour?”
» Key ingredients to an anonymous reporting program
» Data analysis- use of technology to identify fraud attributes
» Prevention Scorecards
- Prevention
» Internal Controls- likelihood and significance of fraud risks
» Internal Audit- are they up to the task? Staffing, adequately trained, independent, objective and
competent?
» Cost vs. benefit
» Prevention scorecards
SEGMENT 1:
<strong id="ep-name-of-speaker">E. Michael Thomas CPA, CIA, CBA, CFE, CRP,</strong>
<em id="ep-speaker-firm">Executive, Financial Institution Risk Consulting Practice, Crowe Horwath LLP </em>
Building An Antifraud Framework
- Current Trends and Statistics
» Mortgage Fraud
» Identity Theft
» Examples of recent Internal Fraud Schemes
- Four Cornerstones of an Anti-Fraud Framework
» Governance – The effective top down oversight and direction establishing
the proper “tone at the top”.
» Policies and Procedures - The Board approved policies related to fraud prevention and detection.
» Competency/Training – Fraud awareness training throughout the organization.
» Independent Testing/Validation – Periodic testing and validation of fraud systems
and capabilities.
- Fraud Vulnerability Assessment
» Overall Entity Assessment
» Fraud Awareness Training
» Business Unit/Process Assessment
» Integrated Fraud Detection & Prevention Techniques
- Fraud Risk Assessment
» Risk Events
» Impact
» Likelihood
» Risk Response
» Risk “Gaps
Who Should Attend:
- CPAs
- Internal and External Auditors
- Lawyers
- Corporate Financial Officers
- Security Operations
- Fraud Monitoring
- Business Analysts
- Fraud Analysts
- Corporate Security
Holly Daniels is a Technical Director within Standards and Guidance at The Institute of Internal Auditors (IIA) Global Headquarters. The …
Ronald L. Durkin is a CPA with over 30 years combined experience in public accounting and as a Special Agent …
Mike Thomas is an Executive in Crowe Chizek’s Financial Institution Risk Consulting practice in the Southeastern United States. He has …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
83799
Total Credits:
2.0 CLE
Login Instructions:
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SPEAKERS' FIRMS:
About The Institute of Internal Auditors
Website: https://www.theiia.org/
About Durkin Forensic
Website: https://www.durkinforensic.com/
About Crowe Horwath LLP
Website: https://www.crowehorwath.com/crowe/