This seminar provides participants with an understanding of fraud and the basic tools to undertake a fraud risk assessment. Using “real life” examples of fraud in the materials provided as well as examples based on instructor experiences, participants will gain an understanding of fraud, the risks it poses to an organization and the need to manage that risk. Case discussions, sample codes of conduct, fraud policies, fraud risk checklists, numerous examples and other practical materials including discussion of ethics within an organization will help participants build a corporate culture and fraud risk management framework that prevents and detects fraudulent activity.

Applicable for:
CPAs in industry who require knowledge of potential fraud indicators in their transaction streams, and how to develop an integrated approach for effective fraud risk management, and public practitioners who want to better identify indicators of potential fraud which can assist in the conduct of an effective audit.

Learning Objectives
By the end of this course, participants should be able to:

• Describe what fraud is and why it poses a risk to every organization
• Identify potential indicators of fraud
• Describe the five key elements of the COSO Fraud Risk Management Framework
• Prepare a basic fraud risk assessment

Content
The topics in this seminar include:

• Why we need to manage fraud risks
• COSO framework for Fraud Risk Management
• Principle 1: Governance - creating an ethical environment: discussion about codes of conduct, fraud policies, hotlines, ethics training, employee declarations, and other practices
• Principle 2: Comprehensive fraud risk assessment: fraud indicators and red flags, and a series of fraud risk assessment cases
• Principle 3: Preventive and detective fraud control activities: a high-level overview of potential controls
• Principle 4: Fraud investigation protocol: high-level overview of how to properly react to fraud, investigation considerations, taking corrective action and fidelity insurance matters
• Principle 5: Fraud risk management monitoring: ongoing evaluation and timely communication, with an introduction to data analytics

Seminar Leader: Victor G Neufeld CPA Inc.

Presented by PD Partner: CPA Pro

What to Expect

•  This is a Live Virtual Seminar where class size has been limited to allow for an interactive learning environment. 
• This seminar will not be recorded.
• Course materials, links and credentials will be emailed to you two business days before the seminar. Once sent, the email will also be found in your Account Communication tab of the CPA Manitoba Member Portal. 
• Live webinars have varying levels of expected interaction, and some may require webcam and microphone capabilities – if you have concerns about the interaction required for this course, please email [email protected] 

CPA Manitoba PD Terms and Conditions 

Note: There is some overlap between this seminar and Fraud Happens – What to Do When you Suspect Fraud, which focuses on COSO Principle 4 and goes into much more detail about relevant investigate and legal tools and techniques to perform investigations.