Identify Business Risk, Increase Control and Confidence

Identify Business Risk, Increase Control and Confidence

Did you know that 30% of fraud detected happened in businesses with less than 100 employees? On top of that – 40% of cases identified were because of a tip or were found by accident*If you run a small business, it’s imperative that you are aware of what constitutes fraud and how it is committed. You also need to know the necessary steps to either detect fraud in your business or prevent it from occurring altogether. This course is designed to teach fundamental concepts in four easy-to-digest sections. The first section defines fraud by accounting terminology (rather than what the mainstream media uses). The second explains a common concept called the “fraud triangle” (which is more psychology than accounting) that is critical to understanding where the risk of fraud exists in a business. The third section explains what elements of the fraud triangle are the hardest to eliminate, and more importantly, why it is so difficult to do so. The fourth and final section combines the previous three sections and provides specific targeted advice to reduce the risk of fraud. By the end of this course, you will understand WHY these changes work and have applicable lessons to incorporate into your business to limit the probability of fraud being committed.

*2016 Global Fraud Study conducted by the Association of Certified Fraud Examiners).

Simple Ways To Reduce Risk in Your Businesses

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What you will learn

• Define fraud and what it means for your business
• Define and understand the three elements of the fraud triangle
• Understand why the elements are difficult to eliminate and the impact on your business

Rating: 5

Level: Beginner Level

Duration: 31 mins

Instructor: Amanda Kopp, CPA