the alleged wrongful act jurisdiction and other factors Who decides if it is

The alleged wrongful act jurisdiction and other

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the alleged wrongful act, jurisdiction and other factors Who decides if it is fraud? The investigator or forensic accountant finds the evidence and evaluates and communicates his or her findings. The “finder of fact” concludes as to whether the conduct meets the legal definition Defining fraud 4
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2017 Why should we care? Fraud risk is perennial Fraud impacts are significant (5% of revenes) Affects businesses of all size Every kind of accountant has a role Viewing the challenge from a forensic perspective builds skill, awareness, and resilience (and saves money!) Managing fraud risk and responding to allegations is (or should be ) just another business process 5
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2017 Our learning focus: Financial reporting fraud Asset misappropriation Cash Things of value Intellectual property Corruption Bribery Regulatory compliance 6
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2017 What we won’t cover… No cybersecurity Little focus on consumer frauds Identify theft Product frauds Credit card fraud Limited focus on tax fraud Shallow dive into fraud investigation, data analytics and forensic interviewing and litigation support No silver bullet 7
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2017 Fraud triangle 8
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2017 “The Fraud Tree” Source: Association of Certified Fraud Examiners, 9
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2017 Tracking fraud trends ACFE Report to the Nations Focus on occupational fraud (asset misappropriation and financial statement fraud) Big Four and Consultancy Surveys Transparency International (focus on bribery and corruption) EY Global Fraud Survey and PwC Economic Crime Surveys (focus on larger corporations) Government and Enforcement Activity 10
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2017 Understanding and classifying common fraud schemes presented by Lynda Schwartz
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