Regardless of size, all organizations must be aware of the risks associated with intentionally fraudulent acts. Fraud can be executed from within an organization, by external parties, or both. Therefore, a primary method to thwart fraud is understanding how and why it occurs. First, understand why internal and external intentional defalcations take place. Discuss the difficulty in understanding the motives driving those who undertake fraud. Finally, review measures organizations can implement to stop fraud and add security to the enterprise.
Learning Objectives
• Recall reasons that employees and others who are internal to an organization choose to undertake fraudulent acts
• Indicate the factors that make an organization attractive to those considering an external fraud attempt
• Identify the types of control measures that work best as entities strive to mitigate fraud risk
• Recognize specific internal control measures that can help to reduce fraud activities
• Indicate how anti-fraud measures add security to all segments and aspects of a business organization
Major Topics
• Understanding why internal fraud occurs
• Fraudulent acts initiated by outside organizations
• Policies, procedures and control measures designed to fight fraud
• Steps that verify anti-fraud activities are working
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