Together, Reducing Fraud Worldwide
On-Site Training Proposed Schedule
Controlling the Risk of Asset Misappropriation
7:30 a.m. - 8:00 a.m.
Registration and Continental Breakfast
8:00 a.m. - 9:20 a.m.
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.
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.
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.
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.
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.
© 2014 Association of Certified Fraud Examiners, Inc. All rights reserved.