Unique Fraud Challenges Facing Small Businesses (Currently Unavailable)

Author: Paul McCormack

CPE Credit:  2 hours for CPAs

The Association of Certified Fraud Examiners reported in 2012 that the median fraud loss for businesses with less than 100 employees is $147,000. As a result of limited resources to invest in the fight against fraud, small businesses are especially vulnerable to fraud perpetrated by both employees and third parties. Unfortunately, when a small business is the victim of fraud they often end up going out of business.

This course discusses the unique challenges facing small businesses. It includes a review of innovative measures that small businesses can implement with relative ease to prevent fraud as well as a detailed discussion regarding lessons learned from actual fraud cases at small businesses.

Publication Date: January 2015

Designed For
CPAs responsible for preventing, detecting, and investigating fraud.

Topics Covered

  • Overview of fraud statistics related to small businesses
  • The internal controls that small businesses can implement to generate the maximum return on investment
  • Proactive measures that companies can implement to enhance the "perception of detection"
  • 10 real world examples of fraud within small businesses and the lessons learned

Learning Objectives

  • Identify the types of fraud risks facing small businesses.
  • Recognize how to assess your company's overall risk of fraud.
  • Recognize the types of internal controls that are most effective in preventing fraud within small businesses.

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
None

Advance Preparation
None

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