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PENETRATING THE OCCUPATIONAL FRAUD AND RISK CONTROL

Occupational fraud ranges from false invoices to illicit practices and fraudulent financial statements, causing billions of dollars in loss, which is not a favorable topic, but unavoidable in the real world.
What on earth is the total cost caused by occupational fraud? It is stated in ACFE’s (Association of Certified Fraud Examiners) 2008 “Report to the Nation on Occupational Fraud and Abuse” that an estimated US$994 billion in losses are caused each year, equivalent to 7% of the US GDP. What would be the percentage for China’s enterprises under a less favorable legal and business environment?
Occupational fraud has been causing tremendous losses for China’s enterprises, although most managers have not yet realized this fact well. The issuance of the Sarbanes-Oxley Act of 2002 has triggered research and practices of internal control. Obviously, a well-established internal control system can effectively prevent, or reduce, a wide range of errors and fraud.
As it is said in ‘The Art of War’ by Sun Tzu, if you know both your enemy and yourself, you will never be defeated. Thus penetrating our enemy, occupational fraud, we will be able to significantly reduce the opportunities and losses caused by fraud and in addition we can elaborate on the corporate internal control system so as to gain twice the result with half the effort.


Training Objectives

Understand the causes of occupational fraud—why do people commit fraud?
Command the types, characteristics and symptoms of fraud
Acknowledge the legal effects of fraud
Grasp the methodology of preventing, detecting and investigating fraud
Realize the key factors in treating perpetrators
Understand the relationship between fraud and internal control, and its impact on establishing internal control

 

Training Attendees

General managers, finance controllers and other senior managers, company owners
Internal control, internal audit department managers, supervisors, etc.
Finance and other functional department managers and staff
 
 
       
Training Outline
 


Fraud Overview
 
  • Knowing occupational fraud—The more we know, the less likely we are to become victims
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  • ACFE
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  • The fraud triangle theory—motive, opportunity and self-rationalization
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  • Why do more people reject fraud?
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  • Types of fraud: asset misappropriation, corruption and fraudulent financial statements


  • Asset Misappropriation—the most common fraud
     
  • Embezzlement of cash
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  • Fallacious payment
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  • Embezzlement of non-cash assets (inventory, information, securities etc.)
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  • Legal impact of asset misappropriation
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  • How to effectively prevent asset misappropriation


  • Corruption—the largest single area of loss from occupational fraud (management non-financial statement fraud or management fraud)
     
  • The characteristics and red flags of management fraud
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  • Conflict of interest
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  • Commercial bribery
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  • Legal impact of corruption
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  • How to prevent corruption


  • Fraud for Organizations—Corporate crime
     
  • Corporate crime briefing (such as commercial bribery committed by corporations)
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  • Should corporations take a positive or negative attitude to corporate crime?
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  • Legal impact of corporate crime
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  • How to prevent corporate crime?


  • Fraudulent Financial Statements
     
  • Five types of fraudulent financial statements
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  • Red flags of fraudulent financial statements
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  • How to effectively prevent fraudulent financial statements


  • Computer Fraud
     
  • Computer fraud and computer crime
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  • Top management errors that lead to computer security vulnerabilities
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  • Threats from insiders
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  • How to prevent computer fraud


  • Fraud Identification, Investigation and Treatment
     
  • Internal auditors’ responsibility in identifying fraud
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  • How to identify and detect fraud
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  • How to treat the detected fraud
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    Price
    Guangzhou
    2
    5900
    Shanghai
    2
    5900
     
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