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Image of ACPEN Signature:  2017 Business Fraud Update
Live Webcast Replay

ACPEN Signature: 2017 Business Fraud Update

Total Credits: 8 including 2 Accounting - Technical, 6 Auditing- Technical

Average Rating:
Accounting and Auditing |  ACPEN Signature
David L. Cotton, CPA, CFE, CGFM |  Margie Reinhart, CPA, CFF, CFE, |  Charles W. Blau, JD |  Alan M. Buie, JD |  Toby Bishop, CPA, CFE |  Paul Yanowitch, JD |  John Toney |  Larry M. Blancett |  Vincent Walden
Course Levels:
8 Hours


Business fraud happens.  A lot.

According to the Association of Certified Fraud Examiners (ACFE), the typical organization loses about 5% of its revenues each year due to fraud.  That’s an astounding estimate.  But, why do organizations continue to be so vulnerable to fraud?  One reason is that most organizations simply do not think fraud can happen to them.  They think that fraud only happens to other, not-as-well-managed organizations.  So, such organizations do not focus on fraud, fraud prevention, fraud detection, and fraud deterrence.  Then, when fraud happens to them, senior management and those responsible for governance immediately try to find someone to blame beside themselves.  The scapegoat is often the very accountability professionals—accountants, internal auditors, or external auditors—who tried to warn them about fraud vulnerabilities and the importance of proactive fraud risk management.  The accountability professional needs to (a) remain at the cutting edge of knowledge about fraud and (b) constantly warn management and those charged with governance about fraud risks.

This year’s Business Fraud Update edition is another fast moving seminar that will provide a comprehensive look at the latest developments about fraud from the technical, legal, and operational perspectives and update participants on the most recent legal and regulatory developments in this important area of professional responsibility.  Particular attention and focus will be directed to the latest developments in "best practices" for implementing the recently-revised Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission.  Every organization that purports to follow the COSO Internal Control Framework must now adhere to the following key principle:

The organization considers the potential for fraud in assessing risks to the achievement of objectives.

To assist COSO users in meeting these new fraud related requirements, COSO and the ACFE recently issued a Fraud Risk Management Guide.  Our ACPEN panel will include the principal authors of this comprehensive guidance. 

The panel will include experts in the rapidly-evolving field of data analytics who will explain how data analysis software can be used to prevent fraud and identify fraudulent transactions early, before the fraud can become catastrophic.

The panel will also focus on two new emerging trends related to Enterprise Rick Management: protecting against cyber threats and ensuring a proper focus on sustainability.

Our panel of legal experts (prosecutors and white-collar defense lawyers) will weigh in on these emerging issues from their special points of view.

Participants will learn and master new skills for meeting their professional, legal and ethical responsibilities to make reasonable efforts to deter, prevent, and detect fraud.

As in previous business fraud update programs, the materials discussed will be further illustrated using a fact pattern presented via role playing scenarios using our expert panelists to play key roles in an intriguing “who done it” format.

Business fraud happens.  This program will help accountability professionals manage the risk of fraud effectively and proactively.  AND, give them the tools they need to keep senior management and governance officials apprised of the importance of constant vigilance regarding fraud risks and the need for proactive fraud risk management.

Program Chair: David L. Cotton, CPA, Cotton & Company, LLP, Alexandria, VA

(Note: The final Speaker List and detailed marketing will be available 90 days before the original course date, above)

Basic Course Information

Learning Objectives

*Provide a comprehensive look at fraud risk management from the technical, legal, and operational perspectives and update participants on the most recent legal and regulatory developments pertaining to fraud deterrence, prevention, and detection

Major Subjects

*Business Fraud

*Fraud Risk Management

*Fraud Risk Assessments



Course Materials


David L. Cotton, CPA, CFE, CGFM's Profile

David L. Cotton, CPA, CFE, CGFM Related seminars and products: 7

Chairman of Cotton & Company LLP

Dave Cotton is chairman of Cotton & Company LLP, Certified Public Accoun­tants. Cotton & Company is headquartered in Alexan­dria, Virginia.  The firm was founded in 1981 and has a practice concentration in assist­ing government grantees and contractors, Federal and State government agencies, and inspectors general with a variety of govern­ment program-related assurance and advisory services.  Cotton & Company has performed grant and contract, indirect cost rate, financial statement, financial related, and performance audits for more than two dozen Federal inspectors general as well as numer­ous other Federal and State agencies and programs. 


Cotton & Company’s Federal agency audit clients have included the U.S. Government Accountability Office, the U.S. Navy, the U.S. House of Representatives, the U.S. Capitol Police, the U.S. Small Business Administration, the U.S. Bureau of Prisons, the Millennium Challenge Corporation, the U.S. Marshals Service, and the Bureau of Alcohol, Tobacco, Firearms and Explosives.  Cotton & Company also assists numerous Federal agencies in preparing financial statements and improving financial management, accounting, and internal control systems.


Cotton & Company has conducted financial and compliance audits of federal contractors and grantees for numerous federal agencies and offices of inspector general, including the Department of Energy, National Science Foundation, Environmental Protection Agency, Department of State, Agency for International Development, Corporation for National and Community Service, and the Department of Justice.  Dave directed most of these engagements.


Dave received a BS in me­chanical engineering (1971) and an MBA in management science and labor rela­tions (1972) from Lehigh University in Bethle­hem, PA.  He also pursued gradu­ate studies in accounting and auditing at the University of Chicago, Graduate School of Business (1977 to 1978).  He is a Certified Public Accountant (CPA), Certified Fraud Examiner (CFE), and Certified Government Financial Manager (CGFM).


Dave served on the Advisory Council on Government Auditing Standards (the Council advises the United States Comptroller General on promulgation of Government Auditing Standards—GAO’s yellow book) from 2006 to 2009.  He served on the Institute of Internal Auditors (IIA) Anti-Fraud Programs and Controls Task Force and co-authored Managing the Business Risk of Fraud: A Practical Guide.  He served on the American Institute of CPAs Anti-Fraud Task Force and co-authored Management Override: The Achilles Heel of Fraud PreventionHe is the past-chairman of the AICPA Federal Accounting and Auditing Subcommittee and has served on the AICPA Gov­ernmental Account­ing and Auditing Com­mit­tee and the Government Technical Standards Subcom­mittee of the AICPA Profes­sional Ethics Execu­tive Commit­tee.  He authored the AICPA’s 8-hour continuing professional education course, Joint and Indirect Cost Allocations—How to Prepare and Audit Them.  Dave served as a technical reviewer for the 1999 through 2003 editions of the AICPA Audit and Accounting Guide Audits of Federal Government Contractors.

He is presently serving on the AICPA’s Performance Audit Standards Task Force and is chairing the Fraud Risk Guidance Task Force, sponsored by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission and the ACFE.


Dave served on the board of the Virginia Society of Certified Public Accountants (VSCPA) and on the VSCPA Litigation Services Committee, Professional Ethics Committee, Quality Review Committee, and Governmental Accounting and Auditing Committee.  He is member of the Greater Washington Society of CPAs (GWSCPA).  He is a member of the Association of Government Accountants (AGA) and past-advisory board chairman and past-president of the AGA Northern Virginia Chapter.  He is also a member of the Institute of Internal Auditors and the Association of Certified Fraud Examiners.


Dave has testified as an expert in governmental accounting, cost accounting, contract claims, auditing, and fraud issues before the United States Court of Federal Claims and other administrative and judicial bodies. 


Dave has spoken frequently on cost accounting, professional ethics, and auditors’ fraud detection responsibilities under SAS 99, Consideration of Fraud in a Financial Statement Audit.  He has been an instructor for the George Washington University masters of accountancy program (Fraud Examination and Forensic Accounting)and instructs for the George Mason University Small Business Development Center (Fundamentals of Accounting for Government Contracts). 


Dave was the recipient of the AGA’s 2006 Barr Award (“to recognize the cumulative achievements of private sector individuals who throughout their careers have served as a role model for others and who have consistently exhibited the highest personal and professional standards”) as well as AGA’s 2012 Educator Award (“to recognize individuals who have made significant contributions to the education and training of government financial managers”).


Margie Reinhart, CPA, CFF, CFE, Related seminars and products: 2

Margie Reinhart, CPA, CFF, CFE
Director, Forensic Investigative and Dispute Services

Margie Reinhart is a Director in Grant Thornton LLP’s Forensic, Investigative and Dispute Services practice in Dallas, Texas.

Experience:  Margie has devoted her 19 year career to be highly skilled in the multi-facets of forensic investigation, expert services, forensic data analytics, fraud consulting and white collar investigations. She spent over eleven years at a big four accounting firm and over two years running boutiques forensic investigation firms.

Ms. Reinhart works closely with law firms, government agencies and corporate executives practicing in both the United States and Canada.  An accountant, Margie has extensive knowledge of a variety of white-collar civil and criminal matters, including internal corporate and financial fraud investigations. She has conducted and coordinated multifaceted investigations involving retail, manufacturing, fraud against the government, real estate and many other industries. She has testified as a fact and expert

Representative experience: 
· Analyzed and calculated damages for numerous types of litigation matters involving complex accounting and business aspects. Written expert reports and testified in these types of matters.
· Engaged by the Federal Trade Commission, Ms. Reinhart assisted in writing the expert report opining on policies, procedures and
practices that businesses should use to detect fraud and abuse. The work performed by Ms. Reinhart was used to testify that a lack of adequate procedures allowed the practice of billing over $30 million in bogus charges by a large aggregator. Resulted in settlement of a large fine.
· Hired to provide forensic consulting services to a federal task force from the Department of Labor, Inspector General’s Office of
Labor Racketeering and Fraud Investigations. Successfully conducted and completed this work and provided recommendations, advice, and support to investigators concerning the financial aspect of this investigation.
· Analyzed millions of procurement, employee and payroll records over a two year period uncovering payroll overpayment, false and
2 © Grant Thornton LLP All rights reserved U.S. member firm of Grant Thornton International Ltd abusive payments to related vendors and numerous other improper payments, waste and abuse.
· Served as financial expert witness for a healthcare provider defending a $50+ million Department of Justice charge accusing the
provider of false Medicare claims. Electronically analyzed over a million lines of payroll and human resource records for an eight year period. Jointly prepared an expert report supporting the Medicare claim. Settled in hospital’s favor.
· Retained by a Bermudian financial institution to investigate suspicious transactions. Reviewed customer investment account statements and identified lapping scheme concealing the use of customer investment accounts for personal stock trades by an

Professional qualifications and memberships:
· Certified Public Accountant
· Certified in Financial Forensics
· Certified Fraud Examiner
· Member of the Association of Certified Fraud Examiners
· Member of the American Institute of Certified Public Accountants

Ryerson Polytechnic University, Toronto, Canada
Bachelor of Business Management

Charles W. Blau, JD Related seminars and products:

Charles W. Blau, JD, is an attorney, in private practice, in Dallas, Texas. He focuses his practice on the representation of individuals and entities that are accused of white collar crimes. Mr. Blau assists companies in discrete internal investigations both before and during governmental inquiries. He also aids corporations in fashioning, enacting and administering compliance and ethics programs. He regularly advises clients how to prevent and detect criminal, civil and administrative problems, often in conjunction with independent accountants and investigators. His practice concentration and experience includes criminal law and litigation: Tax Fraud, Criminal Anti-Trust and Securities Fraud, Defense Procurement Fraud, Environmental Crimes, Health Care Fraud, Bank Fraud and Money Laundering Crimes. Mr. Blau was an Assistant United States Attorney for the Southern District of Indiana in 1976 and held various federal prosecutorial positions through 1987, including Associate Deputy Attorney General of the United States. He is a prolific author and speaker. He is an active member of the ABA White Collar Crime Subcommittee and served as a co-chair of the Southwest Regional Committee of the organization. He is member of the Florida, Indiana and Texas bar associations as well as many other professional organizations. He received his undergraduate degree from Indiana University, his law degree from the University of Louisville and his L.L.M. in taxation from Georgetown University.

Alan M. Buie, JD Related seminars and products:

Alan M. Buie, JD has been an Assistant United States Attorney for the Northern District of Texas since 2005.? He is currently assigned to the fraud section of the criminal division in the Dallas office.? Before joining the United States Attorney?s Office, Mr. Buie was an enforcement attorney, then a branch chief and an assistant director, with the Fort Worth office of the SEC from 2000 to 2005.? He is currently focusing on the prosecution of securities-related crimes, but his experience at the United States Attorney?s Offices in Dallas and Fort Worth has encompassed a variety of trial and appellate cases, including tax crimes, health care fraud, passport fraud, bank fraud, wire fraud, mail fraud, access device fraud, and bankruptcy fraud, as well as mail theft, counterfeiting of U.S. currency, impersonation of federal officials, theft from interstate shipments, threats against the president, bank robberies, immigration violations, international child kidnapping, and firearms and narcotics offenses.? Mr. Buie has been licensed to practice in Texas since 1992.? He graduated from Harvard Law School in 1992.

Toby Bishop, CPA, CFE Related seminars and products:

Toby Bishop, CPA, CFE, is the director of the Deloitte Forensic Center for Deloitte Financial Advisory Services LLP (Deloitte FAS). He has been named five times to Accounting Today?s Top 100 Most Influential People in the Accounting Profession. He is co-author, with Frank Hydoski, of the book Corporate Resiliency: Managing the Growing Risk of Fraud and Corruption (Wiley, 2009) and a related article in Harvard Business Review (October 2009). Toby is a contributing author and a member of the board of editors of Business Crimes Bulletin, a member of the Institute of Internal Auditors? (IIA) Board of Research and Education Advisors, a board member for the Institute for Fraud Prevention, has presented to the Public Company Accounting Oversight Board?s (PCAOB) Standing Advisory Group, and serves on a task force for the Center for Audit Quality?s Anti-Fraud Working Group. Toby co-authored the IIA/AICPA/ACFE guidance Managing the Business Risk of Fraud: a practical guide. He also co-authored the AICPA guidance papers Management Antifraud Programs and Controls: Guidance to Help Prevent, Deter, and Detect Fraud and Management Override: The Achilles? Heel of Fraud Prevention ? The Audit Committee and Oversight of Financial Reporting. Toby is the former president and chief executive officer of the Association of Certified Fraud Examiners (ACFE), the professional association of over 50,000 antifraud professionals in 125 countries. He is a thought leader in the area of fraud prevention and detection with a special focus on the issue of financial statement fraud. A global commentator on fraud trends, Toby has been quoted in major international publications such as The New York Times, London?s The Daily Telegraph and India Today. His material has appeared in many publications including BusinessWeek, CFO magazine,, Fraud Magazine, Reuters, USA Today, Accounting Today, The American Banker, The Auditor?s Report, Compliance and Ethics Magazine, Compliance Week, Corporate Board Member, Corporate Counsel, The CPA Journal, Director?s Alert, GRC 360, Internal Auditing, Journal of Accountancy, NACD Directorship, Rzeczpospolita, Sarbanes-Oxley Compliance Journal, Wall Street & Technology, and White-Collar Crime Fighter. Toby has appeared on television in several countries. He has brought his thought-provoking insights on fraud to events for organizations such as CFO Conferences, Financial Executives International, the American Accounting Association, the American Institute of Certified Public Accountants (AICPA), state CPA societies, the Association of Certified Fraud Examiners, Beta Alpha Psi, the Institute for International Research, the Institute of Internal Auditors, the Institute of Management Accountants and the Wiley Faculty Network. He also provides executive education on fraud for companies internationally. Dedicated to using education to empower others to fight fraud effectively, Toby has given presentations to more than 1,000 professors to help them equip the next generation of accounting and finance professionals. A popular invited speaker, he has given interactive presentations to thousands of undergraduate and graduate students at universities around the world. A native of England, Toby is a graduate of Oxford University. He is a CPA licensed in Illinois and Massachusetts, a CFE (Certified Fraud Examiner) and a fellow of the Institute of Chartered Accountants in England & Wales (FCA).

Paul Yanowitch, JD Related seminars and products:

AUSA, Northern District of Texas,

United State Attorney’s Office, Dallas, TX

John Toney Related seminars and products:

John Toney joined EY in December 2015 as a Senior Manager in the Fraud Investigation Dispute Services practice. Prior to joining EY, John served as a Special Agent with the US Secret Service, specializing in electronic crimes, critical systems protection, and protective operations. John began his US Secret Service career assigned to the financial crimes unit of the Philadelphia Field Office. In this role, he led multi- state investigations dealing with bank
fraud, large scale identity theft, and violations of the Bank Secrecy Act. John was among the first agents selected for the Network Intrusion Response (NITRO) program. Through training designed by the Department of Defense, and US Secret Service, John studied advanced concepts in network architecture, packet analysis, and penetration testing. He investigated
crimes ranging from e-commerce data thefts to privilege escalation exploits. His work was also formally recognized by the National Center for Missing and Exploited Children for the identification of eighteen child victims and the arrest of their abuser. He has served as a subject matter expert for the US Attorney’s Office in the Eastern District of Pennsylvania, educating Assistant US Attorneys on cyber investigations. John has extensive trial experience, managing all phases of trial preparation as well as appearing in US District
Court, before federal Grand Juries, and preparing civil asset forfeiture matters. John’s casework has also withstood review by the US Circuit Court of Appeals. John has led digital forensics and incident response (DFIR) investigations such as: Ransomware attacks (to include incident triage, server decryption, data restoration, enterprise remediation, active
monitoring, and follow-up investigation under attorney-client privilege); polymorphic worm infections; shadow investigations; phishing attacks; business email compromise attacks; unauthorized access and privilege escalations; and loss of PII requiring victim notification. John also has extensive global experience, conducting on-site assessments in Belgium,
Mauritius, Namibia, Botswana, Vietnam, and Cambodia. He reviewed controls and policies governing the protection of assets valued between $16 million dollars and $240 million dollars per site, and designed remediation solutions for gaps requiring urgent attention. John has supervised nationwide teams of investigators during a large scope Anti-Money Laundering transaction lookback involving 500,000 accounts and 250 million transactions
spanning a four year period. During the course of this engagement, John traced transactions involving high risk jurisdictions, and completed detailed risk assessments based upon customer profile, due diligence information, and movement of funds internationally.

Larry M. Blancett Related seminars and products:


Larry M. Blancett, MBA, Chief Technology Officer for AcSys Biometrics. He manages the US segment of business after building enterprise to bring to market products utilizing cutting-edge Artificial Intelligence based biometrics face recognition security products. Create and execute product development plans. Deliver beta test models and manage field trials of new products. Meet and communicate with potential customers to market our Artificial Intelligence
Engine HNet. Oversee transfer of technology, processes, and operations from Toronto to Dallas to penetrate National Security Agency market. Demonstrate products in industry trade shows and events. Manage 117 technology, AI and IT security professionals.

Vincent Walden Related seminars and products:

Vincent Walden is a CPA and a Certified Fraud Examiner, as well as a Partner with Ernst & Young, in its Fraud Investigative and Dispute Services practice. He is based in New York. Vincent’s focus area is in forensic technology, investigations, eDiscovery and anti-fraud analytics where he leads a national team of skilled forensic technology professionals. Vincent has over 17 years of experience handling the information management, forensic analysis and electronic discovery needs for large scale, complex litigations, investigations and proactive anti-fraud and compliance programs where he integrates big data concepts utilizing both structured and unstructured data sources. Vincent has written several publications featured in ABC News Online, The Economist, FRAUD Magazine, Internal Auditor Magazine and Compliance Week, among others. Vincent holds a Bachelors degree in business administration from the University of Southern California. He taught a half-day course on anti-fraud analytics at the 2013 Association of Certified Fraud Examiners’ Global Annual Conference.

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Course Developer Business Professionals' Network, Inc.
Yellow Book No
Original Recording Date 09/20/2017
Date Added to Catalog 02/02/2017
Designed For

*Public Accountants and Accountants in Industry

*External Auditors

*Internal Auditors

*Risk Management Professionals

Additional Information

Instructional Delivery Method Group Internet Based
Complaint Resolution Policy Please contact Anne Taylor for any complaints., (972-377-8199).
Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Course Registration Requirements

Online Registration

Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 



Overall:      4.4

Total Reviews: 76


Rachel S

"I really enjoyed this course! I liked working through the fraud scenario and how you would handle the situation. The presenters obviously knew their stuff. Thank you! "

Edward C - WESTERN SPRINGS, Illinois

"Great course. Loved the case studies!"

Lauren F - Clive, Iowa

"This was the best CPE course I have taken in several years. The fraud case was extremely interesting and well presented. I felt that I learned a great deal from this course. The speakers all spoke insightfully of their varied experiences. Well done!"

Todd F - Coral Springs, Florida

"Great program with intelligent instructors."

Annette T - x

"Very well presented and interesting! "

Steven E

"Great Course and discussion of real world examples and role playing."

Evan G

"Love the panel and real world examples--please continue this type of format and discussion!"

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