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Free cpe webinars
Financial Statement Fraud

FINANCIAL STATEMENT FRAUD

Cost Free
Presentation Length 1.0 hour

Recorded DateSeptember 8, 2022
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAuditing
Course LevelBasic
Course Description

According to a study conducted by the Association of Certified Fraud Examiners (ACFE), fraudulent financial statement accounts for approximately 10% of incidents concerning white-collar crime. Asset misappropriation and corruption tend to occur at a much greater frequency, yet the financial impact of these latter crimes is much less severe. ACFE defines fraud as "deception or misrepresentation that an individual or entity makes knowing that the misrepresentation could result in some unauthorized benefit to the individual or the entity or some other party." Greed and work pressure are the most common factors pushing management to deceive investors and creditors. The most costly of all the frauds, financial statement fraud has a mean average of $800,000 per case that is found. Financial statement fraud is, according to the ACFE, the largest single-event fraud perpetrated by fraudsters.

Join Dave Oswald in this Auditing CPE webinar as he reviews some recent financial statement frauds, many of which rocked the world's financial markets.

Learning Objectives:


  • Determine how to find fraud

  • Evaluate the fraud tree

  • Identify red flags for financial statement fraud

  • Recognize occupational fraud

  • Determine the reasons and methods for committing financial statement fraud

  • Name the top concealment method used by fraudsters

  • Summarize recent financial statement frauds

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Forensicrestitution

Dave Oswald CPA, CA, CFE, CFI, the owner of Forensic Restitution, is a Chartered Accountant with a passion for exposing fraud or error. 

His global, multi-national experience spans more than two decades, during which he successfully led investigations into high-level C-Suite executive cases. Dave has extensive experience in data preservation and review, computer forensics, data analytics, and fraud investigations. Dave has testified as an expert witness in Federal Court in the United States of America, interviewed numerous suspects and witnesses, and provided testimony in internal disciplinary proceedings. Dave is a current member of the Association of Certified Forensic Investigators' board of directors. 

About Our Presenter

Forensicrestitution
Forensic Restitution is an independent white-collar crime-investigating company. With our vast financial knowledge, we are able to review books of accounts to identify the footprints of fraud. Our state-of-the-art computer forensic laboratory allows for the imaging of computers and the extraction of data for use in disciplinary hearings or criminal procedures

Recent successes include the identification of an error in a production system, resulting in a proven $ 5 million saving per year. We have also been responsible for successful prosecutions of white-collar crime perpetrators.

Our claims formulation procedure resulted in the successful recovery of $1 million for a client that had been defrauded in a salami skimming operation.

Fraud Hurts - We Make it Better