201 | In Person Training | Basic | Scheduled
Winning the Fraud Battle in the 21st Century: Prevention and Detection
Monday, June 24, 2019 8:30am - 4:00pm
Our focus is to reduce the overall risk of fraud. To that end, this course focuses on what factors contribute to turning honest employees into fraudsters. Discussion will include integrity and ethics, as well as how people may react in certain situations. We will also touch upon what lurks in the darknet, along with cryptocurrency fraud.
- Understand the prevalence of fraud.
- Realize how organizations may cause fraud without realizing.
- Comprehend the cost of fraud.
- See how the new COSO Framework for Internal Control focuses on fraud.
- Understand the importance of the environment.
- Recognize potential tipoffs to fraudulent behavior.
- Comprehend information that indicates how some people respond differently to certain factors.
- Understand that there are many layers in fraud defense.
- Robert Wells (view bio)
CPAs in public practice and industry who wish to educate clients or colleagues on how to better prevent fraud from occurring at the source - would-be fraudsters; and those who need discussion of controls used by fraud victim organizations and how to better implement and augment them
- Fraud's cost - ACFE's Report to the Nations; ancillary costs
- Current economy - microeconomics; analyses
- COSO's Internal Control Framework - Principle #1 - integrity/ethics; Principle #8 - Fraud Risk Assessment; Errors and Irregularities - Does the auditor determine if fraud occurs?
- Power of morale - Shrink the fraud triangle; Motivation
- Deviant workplace behavior
- Historic schemes
- Why good folks go bad - What studies indicate; Five interesting findings; Red flags
- Combating fraud with controls
- Fraud prevention checklists
Robert W. Wells, CPA, CFE has over 40 years of experience in public accounting and annually instructs numerous continuing education seminars and in-firm training classes for continuing education providers in the areas of accounting, auditing, fraud, and taxation.
Wells began his career in public accounting in 1970 with the national firm of what was then Touché, Ross & Co. in Nashville, Tennessee. In 1974, he joined a local firm in Nashville and provided accounting, auditing, fraud investigations, and tax services to small- and medium-sized businesses as well as extensive tax services to individuals.
Wells graduated from Austin Peay State University in Clarksville, Tennessee in 1970 with a Bachelor of Science degree in Accounting and Economics. He holds a Certified Public Accountant certificate in Tennessee, and is also a Certified Fraud Examiner.