FRAUD EXAMINATION ALBRECHT, ALBRECHT, & ALBRECHT THE NATURE OF FRAUD CHAPTER 1.

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FRAUD EXAMINATION ALBRECHT, ALBRECHT, & ALBRECHT

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FRAUD EXAMINATION ALBRECHT, ALBRECHT, & ALBRECHT THE NATURE OF FRAUD CHAPTER 1

Learning Objectives 1.Understand the seriousness of the fraud problem and how it affects individuals, consumers and organizations 2.Define fraud 3.Classify fraud into various types 4.Understand how expensive fraud is to a company, investors, and a nation

Learning Objectives 5.Distinguish between criminal and civil fraud laws and how they relate to fraud. 6.Be familiar with types of fraud-fighting careers today.

Describe the Seriousness of Fraud.

List Four Sources for Knowing How Much Fraud is Occurring.

What are the Estimated Costs and Impacts of Fraud?

Explain How $1 in Fraud Represents $1 Lost Profits.

What are the Seven Elements of Fraud?

Define Fraud: What it is and What it isn’t. What it isWhat it isn’t

Why Are We so Often Conned?

Classify Frauds and Give an Example of Each.

List Keys to Occupational Fraud and Define.

Complete this Chart. Type of FraudVictimPerpetratorExplanation

Differentiate between Direct and Indirect Embezzlement.

What Are the Two Types of Vendor Fraud? Discuss.

Explain Customer Fraud.

Match Terms to Definitions. Employee Embezzlement Management fraud Investment scams Customer fraud Vendor fraud ACFE Association of Certified Fraud Examiners Employees taking employer’s assets Overcharge for goods, or ship inferior goods Manipulation of financial statements by management Selling worthless investments to unsuspecting investors Getting something for nothing, not paying for goods & services

Differentiate between Criminal and Civil Responses to Fraud. Criminal CaseCivil Case Purpose Consequences Burden of Proof Jury Organization Verdict Claims

What Skills Are Needed to be a Fraud Fighter?

Some Additional Skills that May Prove Helpful

Employment Opportunities EmployerTypes of Work Government CPA Firms, Forensic accounting firms, Law firms Corporations Organizations involved in civil cases Universities, hospitals, etc.