Image of ACPEN Signature:  2019 Business Fraud Update
Live Webcast Replay

ACPEN Signature: 2019 Business Fraud Update


Total Credits: 8 including 3 Accounting - Technical, 3 Auditing- Technical, 2 Accounting (Governmental) - Technical

Average Rating:
   4.5
Category:
Accounting and Auditing |  ACPEN Signature
Faculty:
David L. Cotton, CPA, CFE, CGFM |  Margie Reinhart, CPA, CFF, CFE, |  Sandra K. Johnigan |  John D. Gill, JD, CFE |  Vincent M. Walden, CPA, CFE |  Paul Yanowitch, JD |  Matthew Dunn, JD |  Kevin M. Rockecharlie, CISA
Course Levels:
Update
Duration:
8 Hours
License:
Access for 30 day(s) after program date.


Description

Fraud Happens; and it can happen to your organization.  The public expects accountability professionals to be the first line of defense against fraud. To meet this expectation, accountants, internal auditors, external auditors, and risk management professionals need to develop the skills needed to prevent, detect, and deter fraud.

According to the Association of Certified Fraud Examiners (ACFE), the typical organization loses about 5% of its revenues each year due to fraud.  So, an organization with $10,000,000 in revenue would lose about $500,000 in revenue—and profit, because the lost revenue goes right to the organization’s bottom line.  If that organization had a profit rate of 15%, it would need to generate about $3,333,000 in additional revenue to recover those lost profits. The impact of fraud is almost always devastating, and can be catastrophic.

Why do organizations continue to be so vulnerable to fraud?  One reason is that most organizations simply do not think fraud can happen to them.  They think that fraud only happens to other, not-as-well-managed organizations.  So, such organizations do not focus on fraud, fraud prevention, fraud detection, and fraud deterrence.  Then, when fraud happens to them, senior management and those responsible for governance immediately try to find someone to blame besides themselves.  The scapegoat is often the very accountability professionals—accountants, internal auditors, external auditors, risk management professionals—who tried to warn them about fraud vulnerabilities and the importance of proactive fraud risk management.  The accountability professional needs to (a) remain at the cutting edge of knowledge about fraud and (b) constantly warn management and those charged with governance about fraud risks.

The 2019 Business Fraud Update is another fast-moving seminar that will provide a comprehensive look at the latest developments about fraud from the technical, legal, and operational perspectives and update participants on the most recent legal and regulatory developments in this important area of professional responsibility.  The Update will cover:

  • The latest developments in "best practices" for implementing the revised Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission.  Every organization that purports to follow the COSO Internal Control Framework must now adhere to the following key principle: The organization considers the potential for fraud in assessing risks to the achievement of objectives.
  • The COSO/ACFE Fraud Risk Management Guide, with an emphasis on the dynamic fraud risk management tools that are available at the ACFE web site (see: http://www.acfe.com/fraudrisktools/tools.aspx). 
  • The latest developments related to cyber-risk and cyber-security.
  • The legal ramifications of the most recent fraud cases.
  • Continuing developments in data analytics and digital analysis.

Our panel of legal experts (prosecutors and white-collar defense lawyers) will weigh in on these emerging issues from their special points of view. Participants will learn and master new skills for meeting their professional, legal and ethical responsibilities to make reasonable efforts to deter, prevent, and detect fraud.

Business fraud happens.  This program will help accountability professionals manage the risk of fraud effectively and proactively, and give them the tools they need to keep senior management and governance officials apprised of the importance of constant vigilance regarding fraud risks and the need for proactive fraud risk management.
 

 

Basic Course Information

Learning Objectives
  • Provide a comprehensive look at fraud risk management from the technical, legal, and operational perspectives and update participants on the most recent legal and regulatory developments pertaining to fraud deterrence, prevention, and detection

Major Subjects
  • Business Fraud
  • Fraud Risk Management
  • Fraud Risk Assessments
  • Cyber-Crime
  • Data analytics
  • Digital analysis

Course Materials

Faculty

David L. Cotton, CPA, CFE, CGFM's Profile

David L. Cotton, CPA, CFE, CGFM Related seminars and products: 7

Chairman of Cotton & Company LLP


Dave Cotton is chairman of Cotton & Company LLP, Certified Public Accoun­tants. Cotton & Company is headquartered in Alexan­dria, Virginia.  The firm was founded in 1981 and has a practice concentration in assist­ing government grantees and contractors, Federal and State government agencies, and inspectors general with a variety of govern­ment program-related assurance and advisory services.  Cotton & Company has performed grant and contract, indirect cost rate, financial statement, financial related, and performance audits for more than two dozen Federal inspectors general as well as numer­ous other Federal and State agencies and programs. 

 

Cotton & Company’s Federal agency audit clients have included the U.S. Government Accountability Office, the U.S. Navy, the U.S. House of Representatives, the U.S. Capitol Police, the U.S. Small Business Administration, the U.S. Bureau of Prisons, the Millennium Challenge Corporation, the U.S. Marshals Service, and the Bureau of Alcohol, Tobacco, Firearms and Explosives.  Cotton & Company also assists numerous Federal agencies in preparing financial statements and improving financial management, accounting, and internal control systems.

 

Cotton & Company has conducted financial and compliance audits of federal contractors and grantees for numerous federal agencies and offices of inspector general, including the Department of Energy, National Science Foundation, Environmental Protection Agency, Department of State, Agency for International Development, Corporation for National and Community Service, and the Department of Justice.  Dave directed most of these engagements.

 

Dave received a BS in me­chanical engineering (1971) and an MBA in management science and labor rela­tions (1972) from Lehigh University in Bethle­hem, PA.  He also pursued gradu­ate studies in accounting and auditing at the University of Chicago, Graduate School of Business (1977 to 1978).  He is a Certified Public Accountant (CPA), Certified Fraud Examiner (CFE), and Certified Government Financial Manager (CGFM).

 

Dave served on the Advisory Council on Government Auditing Standards (the Council advises the United States Comptroller General on promulgation of Government Auditing Standards—GAO’s yellow book) from 2006 to 2009.  He served on the Institute of Internal Auditors (IIA) Anti-Fraud Programs and Controls Task Force and co-authored Managing the Business Risk of Fraud: A Practical Guide.  He served on the American Institute of CPAs Anti-Fraud Task Force and co-authored Management Override: The Achilles Heel of Fraud PreventionHe is the past-chairman of the AICPA Federal Accounting and Auditing Subcommittee and has served on the AICPA Gov­ernmental Account­ing and Auditing Com­mit­tee and the Government Technical Standards Subcom­mittee of the AICPA Profes­sional Ethics Execu­tive Commit­tee.  He authored the AICPA’s 8-hour continuing professional education course, Joint and Indirect Cost Allocations—How to Prepare and Audit Them.  Dave served as a technical reviewer for the 1999 through 2003 editions of the AICPA Audit and Accounting Guide Audits of Federal Government Contractors.

He is presently serving on the AICPA’s Performance Audit Standards Task Force and is chairing the Fraud Risk Guidance Task Force, sponsored by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission and the ACFE.

 

Dave served on the board of the Virginia Society of Certified Public Accountants (VSCPA) and on the VSCPA Litigation Services Committee, Professional Ethics Committee, Quality Review Committee, and Governmental Accounting and Auditing Committee.  He is member of the Greater Washington Society of CPAs (GWSCPA).  He is a member of the Association of Government Accountants (AGA) and past-advisory board chairman and past-president of the AGA Northern Virginia Chapter.  He is also a member of the Institute of Internal Auditors and the Association of Certified Fraud Examiners.

 

Dave has testified as an expert in governmental accounting, cost accounting, contract claims, auditing, and fraud issues before the United States Court of Federal Claims and other administrative and judicial bodies. 

 

Dave has spoken frequently on cost accounting, professional ethics, and auditors’ fraud detection responsibilities under SAS 99, Consideration of Fraud in a Financial Statement Audit.  He has been an instructor for the George Washington University masters of accountancy program (Fraud Examination and Forensic Accounting)and instructs for the George Mason University Small Business Development Center (Fundamentals of Accounting for Government Contracts). 

 

Dave was the recipient of the AGA’s 2006 Barr Award (“to recognize the cumulative achievements of private sector individuals who throughout their careers have served as a role model for others and who have consistently exhibited the highest personal and professional standards”) as well as AGA’s 2012 Educator Award (“to recognize individuals who have made significant contributions to the education and training of government financial managers”).

 


Margie Reinhart, CPA, CFF, CFE, Related seminars and products: 1


Margie Reinhart, CPA, CFF, CFE
Director, Forensic Investigative and Dispute Services


Margie Reinhart is a Director in Grant Thornton LLP’s Forensic, Investigative and Dispute Services practice in Dallas, Texas.

Experience:  Margie has devoted her 19 year career to be highly skilled in the multi-facets of forensic investigation, expert services, forensic data analytics, fraud consulting and white collar investigations. She spent over eleven years at a big four accounting firm and over two years running boutiques forensic investigation firms.


Ms. Reinhart works closely with law firms, government agencies and corporate executives practicing in both the United States and Canada.  An accountant, Margie has extensive knowledge of a variety of white-collar civil and criminal matters, including internal corporate and financial fraud investigations. She has conducted and coordinated multifaceted investigations involving retail, manufacturing, fraud against the government, real estate and many other industries. She has testified as a fact and expert
witness.


Representative experience: 
· Analyzed and calculated damages for numerous types of litigation matters involving complex accounting and business aspects. Written expert reports and testified in these types of matters.
· Engaged by the Federal Trade Commission, Ms. Reinhart assisted in writing the expert report opining on policies, procedures and
practices that businesses should use to detect fraud and abuse. The work performed by Ms. Reinhart was used to testify that a lack of adequate procedures allowed the practice of billing over $30 million in bogus charges by a large aggregator. Resulted in settlement of a large fine.
· Hired to provide forensic consulting services to a federal task force from the Department of Labor, Inspector General’s Office of
Labor Racketeering and Fraud Investigations. Successfully conducted and completed this work and provided recommendations, advice, and support to investigators concerning the financial aspect of this investigation.
· Analyzed millions of procurement, employee and payroll records over a two year period uncovering payroll overpayment, false and
2 © Grant Thornton LLP All rights reserved U.S. member firm of Grant Thornton International Ltd abusive payments to related vendors and numerous other improper payments, waste and abuse.
· Served as financial expert witness for a healthcare provider defending a $50+ million Department of Justice charge accusing the
provider of false Medicare claims. Electronically analyzed over a million lines of payroll and human resource records for an eight year period. Jointly prepared an expert report supporting the Medicare claim. Settled in hospital’s favor.
· Retained by a Bermudian financial institution to investigate suspicious transactions. Reviewed customer investment account statements and identified lapping scheme concealing the use of customer investment accounts for personal stock trades by an
employee.

Professional qualifications and memberships:
· Certified Public Accountant
· Certified in Financial Forensics
· Certified Fraud Examiner
· Member of the Association of Certified Fraud Examiners
· Member of the American Institute of Certified Public Accountants

Education:
Ryerson Polytechnic University, Toronto, Canada
Bachelor of Business Management


Sandra K. Johnigan Related seminars and products: 1


Sandra K. Johnigan is a CPA, Certified in Financial Forensics, and a Certified Fraud Examiner. She is a member of the Auditing Standards Board of the American Institute of CPAs (AICPA) and also serves as an Editorial Advisor to the Journal of Accountancy. She has been engaged by public companies in civil litigation involving internal controls, disclosures and other issues. Engagements by accounting firms have included the application of auditing standards and accounting principles to a wide variety of issues, including internal controls, allowance for loan losses, financial instruments, revenue recognition and detection of fraud. She has also been engaged by the Department of Justice and the Securities and Exchange Commission. Ms. Johnigan is a former audit partner with Ernst & Young, where she served as the National Office Chair of both the Thrift Industry Group and Real Estate Industry Group, and Co-Chair of the Financial Services Group. She previously was chair of the AICPA Forensic & Litigation Services Committee and served on the AICPA Council and the AICPA Forensic and Valuation Services Executive Committee.







Dates

Thu, Oct 17, 2019 - 08:00a to 04:00p MDT
Thu, Oct 17, 2019 - 12:00p to 08:00p MDT
Thu, Nov 07, 2019 - 08:00a to 04:00p MST
Thu, Nov 07, 2019 - 12:00p to 08:00p MST
Wed, Dec 18, 2019 - 08:00a to 04:00p MST
Wed, Dec 18, 2019 - 12:00p to 08:00p MST
Wed, Jan 08, 2020 - 08:00a to 04:00p MST
Wed, Jan 08, 2020 - 12:00p to 08:00p MST
Wed, Jan 15, 2020 - 08:00a to 04:00p MST
Wed, Jan 15, 2020 - 12:00p to 08:00p MST

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For
  • Public Accountants and Accountants in Industry
  • External Auditors
  • Internal Auditors
  • Risk Management Professionals

Original Recording Date 09/25/2019
Yellow Book No
Course Developer Business Professionals' Network, Inc.
Date Added to Catalog 02/11/2019

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Instructional Delivery Method Group Internet Based
Course Registration Requirements

Online Registration


Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 


Reviews

5
4
3
2
1

Overall:      4.5

Total Reviews: 18

Please wait ...

Back to Top  
;