Skip to main content
 This program is not active.
Live Webcast Replay

ACPEN Signature: 2019 Business Fraud Update


Total Credits: 8 including 4 Accounting - Technical, 4 Auditing- Technical


Dates


Description

Fraud Happens; and it can happen to your organization.  The public expects accountability professionals to be the first line of defense against fraud. To meet this expectation, accountants, internal auditors, external auditors, and risk management professionals need to develop the skills needed to prevent, detect, and deter fraud.

According to the Association of Certified Fraud Examiners (ACFE), the typical organization loses about 5% of its revenues each year due to fraud.  So, an organization with $10,000,000 in revenue would lose about $500,000 in revenue—and profit, because the lost revenue goes right to the organization’s bottom line.  If that organization had a profit rate of 15%, it would need to generate about $3,333,000 in additional revenue to recover those lost profits. The impact of fraud is almost always devastating, and can be catastrophic.

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 besides themselves.  The scapegoat is often the very accountability professionals—accountants, internal auditors, external auditors, risk management professionals—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.

The 2019 Business Fraud Update 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.  The Update will cover:

  • The latest developments in "best practices" for implementing the 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.
  • The COSO/ACFE Fraud Risk Management Guide, with an emphasis on the dynamic fraud risk management tools that are available at the ACFE web site (see: http://www.acfe.com/fraudrisktools/tools.aspx). 
  • The latest developments related to cyber-risk and cyber-security.
  • The legal ramifications of the most recent fraud cases.
  • Continuing developments in data analytics and digital analysis.

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.

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.
 

 

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
  • Cyber-Crime
  • Data analytics
  • Digital analysis

Course Materials

Speaker

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

David L. Cotton, CPA, CFE, CGFM Related Seminars and Products

Chairman of Cotton & Company LLP


David L. Cotton, CPA, CFE, CGFM, is an accountant with Cotton, a Sikich Company, headquartered in Alexandria, Virginia. He 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.

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).

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 Prevention.

Dave is the past-chair 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.

Dave chaired the Fraud Risk Management Task Force, sponsored by COSO and ACFE and is a principal author of the COSO-ACFE Fraud Risk Management Guide. Dave has testified as an expert in governmental accounting, auditing, and fraud issues before the United States Court of Federal Claims and other administrative and judicial bodies. He has been an instructor for the George Washington University masters of accountancy program (Fraud Examination and Forensic Accounting), and has instructed for the George Mason University Small Business Development Center (Fundamentals of Accounting for Government Contracts).

Dave was the recipient of the ACFE 2018 Certified Fraud Examiner of the Year Award (“presented to a CFE who has demonstrated outstanding achievement in the field of 2 fraud examination … based on their contributions to the ACFE, to the profession, and to the community”).

 


Margie Reinhart, CPA, CFF, CFE's Profile

Margie Reinhart, CPA, CFF, CFE Related Seminars and Products

Director

The Kenrich Group, LLC


Margie Reinhart, CPA, CFF, CFE has devoted her career to be highly skilled in the multi-facets of forensic accounting, forensic data analytics, expert witness consulting, white collar investigations and fraud consulting. She has 12 years Big 4 experience and 10 years within a commercial setting. Possesses demonstrable success in analyzing and interpreting business performance data and producing insights for C-level leadership that ‘cuts to the heart’ of where business performance can be improved.  Ms. Reinhart works closely with corporate executives, government agencies and law firms to serve as an expert in forensic accounting matters, fraud investigations, data analytics, interviews and interrogations, financial disputes, risk management, internal audit special projects, and litigation consulting. She has practiced both in the United States and Canada.


Sandra Johnigan, CPA's Profile

Sandra Johnigan, CPA Related Seminars and Products


Sandra Johnigan is a CPA, Certified in Financial Forensics, and a Certified Fraud Examiner. She currently serves as an Editorial Advisor to the Journal of Accountancy. She served a four-year term, completed in 2016, as a member of the Auditing Standards Board of the American Institute of CPAs (AICPA). She is also one of the principal authors of the Committee of Sponsoring Organizations of the Treadway Commission’s (COSO) Fraud Risk Management Guide. The Guide is intended to serve as best practices guidance for organizations when implementing the COSO fraud risk assessment principle.

Ms. Johnigan is engaged by public companies in civil litigation involving internal controls, disclosures, fraud and accounting issues in SEC filings. Engagements by accounting firms have included the application of auditing standards and accounting principles to a wide variety of issues, including internal controls, allowance for loan losses, financial instruments, revenue recognition and detection of fraud. She has also been engaged by the Department of Justice and the Securities and Exchange Commission. Prior to her current consulting, Ms. Johnigan was an audit partner with EY, where she served as the National Office Chair of both the Thrift Industry Group and Real Estate Industry Group, and Co-Chair of the Financial Services Group. She previously was chair of the AICPA Forensic & Litigation Services Committee and served on the AICPA Council and the AICPA Forensic and Valuation Services Executive Committee.

 


John D. Gill, JD, CFE's Profile

John D. Gill, JD, CFE Related Seminars and Products


John D. Gill, J.D., CFE, graduated from the University of Arkansas with a Bachelor’s Degree in English. In 1990, he received his J.D., with honors, from the University of Texas School of Law.

Prior to working for the ACFE, Mr. Gill was an attorney in the Austin, Texas office of the law firm of Bragg, Smithers and Curry, where he was involved with civil fraud, insurance, and deceptive trade practices cases. He was the editor of the DTPA Forms and Practice Guide, written by David Bragg and Michael Curry.

In 1995, Mr. Gill joined the ACFE and served as both its general counsel and the manager of the Research Department for nine years. When the Research Department expanded in 2003, he took on the role of Research Director where he oversaw the development of dozens of educational products. In 2009, he was promoted to Vice President – Education. In that capacity, he continues to assist in the production and development of books, manuals, self-study courses, seminars, and conferences produced by the ACFE.

He serves on the faculty of the ACFE and is a co-instructor of the CFE Exam Review class. He is a co-author of The Fraud Examiners Manual. He is the publisher of and a contributing author to Fraud Magazine.

Mr. Gill is a member of the Association of Certified Fraud Examiners, the Austin Chapter of ACFE, Phi Beta Kappa, and the State Bar of Texas.


Vincent M. Walden, CPA, CFE's Profile

Vincent M. Walden, CPA, CFE Related Seminars and Products

CEO

Kona AI


Vincent Walden, CPA, CFE, is CEO of KonaAI, specializing in forensic data analytics, continuous controls monitoring, anti-bribery & corruption analytics and compliance. His primary area of concentration is in providing leading technology and perspectives on both proactive compliance programs and reactive investigations and is 2022’s CFE of the Year by the Association of Certified Fraud Examiners.

Prior to leading KonaAI as their CEO, he was a managing director at Alvarez & Marsal, and a partner at Ernst & Young’s Forensic & Integrity Services Practice in Dallas, New York and Atlanta. Before EY, he worked at KPMG and Arthur Andersen. During his career, he also served as President and CFO of a privately-funded Internet company, which was subsequently sold to a Fortune 500 Company.

As an industry thought leader, Mr. Walden sits on Compliance Week’s Advisory Board and is featured in many publications including Internal Auditor Magazine, Compliance Week, Forbes, The Wall Street Journal, Harvard Business Review and The Economist. He is a regular columnist for FRAUD Magazine and writes about anti-fraud innovation. As part of COSO’s Anti-Fraud Task Force, Mr. Walden co-authored its “Fraud Risk Management Guide”, which was released in September 2016 and is being updated in 2022. He also hosts a bi-weekly podcast show, “The Walden Pond”, which focuses on compliance innovation and is an Adjunct Professor at Fordham Law School teaching on compliance technology & innovation.




Kevin M. Rockecharlie, CISA's Profile

Kevin M. Rockecharlie, CISA Related Seminars and Products

Principal

CohnReznick


Kevin M. Rockecharlie, CISA, is a former Partner/Principal of Information Technology Assurance Services for CohnReznick, LLP in Dallas, TX. Kevin has more

than 20+ years of experience providing assurance and consulting services to a wide range of industries working with both public and privately held companies.

Kevin’s expertise includes implementing technical accounting guidance such as ASC 606 (Revenue Recognition), implementing artificial intelligence in financial audits, configuration of financial systems, development of data analytics, evaluating and recommending cybersecurity controls as well as performing information technology audits. Kevin has held positions at Accenture, Protiviti, Alcatel-Lucent (Nokia) and Dell Computer.

Kevin graduated from Texas Tech University with a Bachelor of Business Administration in Management Information Systems. He also holds a Master of Science in Accounting and Information Management as well as a Master of Business Administration.

 


Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Course Developer Business Professionals' Network, Inc.
Yellow Book No
Original Recording Date 09/25/2019
Date Added to Catalog 02/11/2019
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. anne.taylor@acpen.com, (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: www.nasbaregistry.org


Course Registration Requirements

Online Registration


Refund/Cancellation Policy

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


Reviews

5
4
3
2
1

Overall:      4.5

Total Reviews: 62

Comments

Benjamin S

" "

Amber T

"Loved the format of this class. Very interesting!"

Jacob K - Fairbanks, Alaska

"Overall good."

Kristin M

"I really enjoyed the long case study. That was really entertaining and kept my attention. "

Jessica S - Conway, Arkansas

" "

Amy D - x

"Great course! Loved the panel discussion and case study role play! Great class! "

Jacobs G - Leesburg, Virginia

"I actually enjoyed the class. Mr. Cotton did a great job."

Debbie B - Charleston, South Carolina

"I liked the case Study on Fraud. I think this is one of the best educational presentations I have been to. "

Gary W

"Excellent Course!"

Teresa C

"Absolutely FABULOUS! Thank you for a great presentation"