Together, Reducing Fraud Worldwide

  • On-Site Training Proposed Schedule 

     

    Controlling the Risk of Asset Misappropriation 

     

     

    DAY ONE  

    DAY TWO  

    7:30 a.m. - 8:00 a.m.  

    Registration and Continental Breakfast 

    Continental Breakfast 

    8:00 a.m. - 9:20 a.m.  

    Introduction 

    In this session, you will learn what asset misappropriation schemes are, explore why individuals misappropriate their employers’ assets and discuss common characteristics of employees who undertake these schemes.

    Controlling Risks in Purchasing and Accounts Payable 

    Misappropriation schemes that involve manipulation of vendor purchases and payments can be particularly costly for organizations. In this session, you will discuss schemes that attack these functions, such as shell company schemes and personal purchases schemes, as well as preventive and detective controls designed to guard against them.

    9:20 a.m. - 9:35 a.m.  

    Break  

    Break  

    9:35 a.m. - 10:55 a.m.  

    Conducting a Fraud Risk Assessment  

    The first step in addressing the risk of asset misappropriation is to assess the factors that increase this risk. This session explores how a formal fraud risk assessment can help identify and prioritize the areas at greatest risk for asset misappropriation schemes.

    Controlling Risks in Payroll and HR  

    All organizations that have paid employees also have the risk of misappropriation in the payroll function. Learn about common ways employees manipulate their paychecks and mechanisms that can be used to prevent and detect these schemes.

    10:55 a.m. - 11:10 a.m. 

    Break  

    Break  

    11:10 a.m. - 12:30 p.m.  

    Assessing the Culture and Addressing Entity-Wide Risks 

    An adequate understanding of the company culture and entity-wide risks is a necessary foundation for interpreting the fraud-related risks and controls present in different business processes. In this session, you’ll discuss how the organization’s operating circumstances, organizational structure, ethical tone, management team and other entity-wide factors affect the risk of asset misappropriation.

    Controlling Risks Related to Physical Assets  

    The vast majority of asset misappropriation schemes involve cash, but other assets can be stolen as well. Inventory, supplies and fixed assets are commonly targeted for misappropriation or misuse, and these schemes can be extremely costly. During this session, you will explore the different ways employees misappropriate physical assets, and you will learn how organizations can safeguard these assets from the hands of potential fraudsters.

    12:30 p.m. - 1:30 p.m. 

    Group Lunch  

    Lunch on Your Own 

    1:30 p.m. - 2:50 p.m.  

    Controlling Risks in Sales and Accounts Receivable 

    The areas where cash enters a company—through sales and collection of customer payments—are particularly susceptible to misappropriation schemes. This session will discuss the ways that fraudsters manipulate these functions and the controls that can help prevent and detect such schemes.

    Controlling Risks Related to Intangible Assets 

    Any valuable information that an organization collects, creates, develops or stores can be susceptible to theft or misappropriation. Such information includes intellectual property and trade secrets, as well as the personally identifiable information of customers and employees that is housed in databases. In this session, you will learn about how these assets can be misappropriated, as well as security measures that can prevent and detect such unauthorized access to and use of proprietary information.

    2:50 p.m. - 3:05 p.m.  

    Break  

    Break  

    3:05 p.m. - 4:25 p.m.  

    Controlling Risks in Cash Disbursements 

    Organizations make payments for many reasons and through many means, all of which are at risk of being misappropriated by dishonest employees. Learn about how disbursements in the form of checks, electronic payments and expense reimbursements are misappropriated and the mechanisms management can employ to protect against these manipulations.

    Responding to Identified Asset Misappropriation Schemes 

    Effectively combatting asset misappropriation schemes includes instituting formal processes and procedures for investigating and remediating any identified misappropriations, and for providing swift and appropriate punishment to identified perpetrators. This session outlines procedures for planning and undertaking a fraud examination and for reporting and responding to the findings of the investigation.

     

    Training Details