PPT-Managing the Risk of Fraud in

Higher Education Robin Woods Stacey M Walker Internal Audit Director Internal Audit Director Texas AampM System Auburn University Topics What is fraud Where does fraud occur. Recent cases. Madoff - $54bn (£38bn). Allen Stanford - $8bn (£5.6bn). Kazutsugi Nami, Japanese Ponzi scheme $2.5bn (£1.76bn). US Ponzi schemes . Nadel $300m. Schrenker . “Chicago suburban businessman ... Tens of millions of dollars”. Ryan Burnett. Caitlen. . Eibeck. Mike Davis. Acctg403-001. Pennsylvania state university. Professor . izzo. 3/1/2015. Greed and Pressure. Greed. Greed can be attributed to personal financial gain, attempts to conceal losses and/or poor job performance that could harm a person’s employment, and enhancing potential bonuses, among other factors.. What are the central securities depositories doing to mitigate this risk?. Cancún, . May. 21, 2015. What is Fraud?. Generally, fraud is described as a deliberate act of abuse of trust, taking advantage of swindles. . Management . and the Profile. of a Fraudster. Business of Fraud. Fraud, corruption and unethical behaviour have become a reality in both the private and public sector. Hard . Facts. South Africa ranked . Keith Jacks Gamble. Department of Finance. Patricia Boyle. Lei Yu. David. Bennett. Acknowledgements. Sandell. Grant – Center for Retirement Research at Boston College. National Institute of Aging (grant R01-AG33678). . . Definition of Fraud. The . Institute of Internal Auditors’ IPPF defines . fraud . as:. . . . “. Any illegal act characterized by deceit, concealment, or violation of trust. These acts are not dependent upon the threat of violence or physical force. Frauds are perpetrated by parties and organizations to obtain money, property, or services; to avoid payment or loss of services; or to secure personal or business advantage.”. . Think Like a ‘Demon’ & Add IA Value. April 10, 2013. 2:30p – 3:30p. Mark P. Ruppert. . CPA, CIA, CISA, CHFP, CHC. Director, Internal Audit . (CAE). The Institute of Internal Auditor Los Angeles Chapter. Deterrence . Detection . and . Prevention. Presented by . . Ryan Schnobrich, Internal Auditor. A considerable amount of information in this presentation was provided by:. The Association . of Certified Fraud Examiners, . NIDHI RAO, CPA, CFE, CFF, CIA. OCTOBER 12, 2017. FRAUD DETECTION IS AS SIMPLE AS…. DISCUSSION THEMES. Tales. Risk Assessment. Cost. Fraud Myths. It couldn’t happen to us. . If something happened, it would be discovered quickly.. Joint Financial Management Improvement Program (JFMIP) Conference. May 9, 2016. Erin A. McLaughlin. Senior Analyst, Forensic . Audits and Investigative Service (FAIS. ). U.S. Government Accountability Office. Praise for Managing the Risk of Fraud and Misconduct: Meeting the Challenge of a Global, Regulated, and Digital Environment This book belongs on any desk where fraud and misconduct threaten. It is bristling with the kind of detail this field truly needs. Written by leading pros at the top of their game, its soup-to-nuts advice matches solutions to problems. Read it once to gain broad insight come back again and again to manage particular risks. Thomas Donaldson, Professor of Legal Studies and Business Ethics, Wharton School of the University of PennsylvaniaA valuable road map for corporate fraud fighters in an age when shareholders, regulators, and whistleblowers are making their work more vital than ever. Neil Weinberg, Executive Editor, Forbes Media LLC coauthor, Stolen Without a GunAuditors, managers, and directors may argue over who is responsible for minimizing fraud and misconduct. The fact is, we all share this responsibility. As a current and comprehensive guide to the subject, this book should be recommended reading for every public company director. Kenneth Daly, President and CEO, National Association of Corporate DirectorsWritten for managers from C-level on down -- without avoiding technical jargon. This approach, combined with a consistent, efficient, easy-to-read writing style, leads to a thorough understanding of the subject without compromising its technical accuracy. I strongly recommend this book. - Randall LaSalle, Ph.D., CPA, CFE, John Jay College of Criminal Justice Department of Economics Managing the Risk of Fraud and Misconduct delves in great depth into the issues and provides sage advice. Based on my experience, the book should be required reading for every general counsel and most corporate counsel. - Albert Driver, Editor, The Metropolitan Corporate CounselAn extremely detailed book that serves as a comprehensive guideline for risk managers. - Business FinanceThe definitive authority on this important business issue-the fraud risk management bible that stresses the ever- growing importance of integrity in business. - Risk ManagementBoth a history of recent developments in the field -- and a comprehensive plan for developing a robust approach to deterring, detecting, and preventing fraud, and to assessing both a company\'s vulnerabilities and the success of its anti-fraud measures. - Accounting TodayThis book addresses the challenges posed by changes in law, technology, and globalization in a comprehensive manner that can help the reader improve core competencies and initiate some interesting dialogue in the process. - Elizabeth Sullivan Armetta, CIA, CAMS, The Institute of Internal AuditorsA Comprehensive C-Level Guide to Preventing and Responding to Fraud and MisconductMaintaining and enhancing the integrity of an organization in a global, regulated, and digital environment has become an increasingly complex and difficult challenge for business leaders. Despite major legislative and regulatory reforms over the past decade, the headlines are replete with instances of corporate misdeeds. Indeed, nearly two-thirds of executives surveyed by KPMG reported that fraud and misconduct were significant risks in their industries, and a third of these executives expected fraud or misconduct to rise in their organizations within the year.Managing the Risk of Fraud and Misconduct is an A-to-Z guidebook for business leaders who are looking for an integrated and comprehensive approach for cutting through the complexities in today\'s environment. This solution driven book provides insights from top experts who walk you through proven approaches to customize a strategy for preventing, detecting, and responding to fraud and corruption by building a culture of ethics and integrity.Managing the Risk of Fraud and Misconduct will help business leaders to stay a step ahead of tomorrow\'s demands by providing guidance on how to:Assess your organization\'s vulnerability to fraud and misconduct, and design and implement controls to prevent, detect, and respond to these occurrencesAddress increased regulatory enforcement and enhanced scrutinyPreserve and create value from corporate governance and compliance programsUse technology and data analytics to mitigate fraud and misconduct risksEvaluate the ongoing effectiveness of your compliance program A strategic, practical, cost-effective approach to fraud preventionIn troubled economic times, the risk of fraud and financial crime increases. In our post credit crunch environment, new laws and tougher penalties for financial crime mean that if you are in business, you have a responsibility to help fight fraud.However, to design effective, proportionate fraud controls for your business, you need a complete picture of all the risks. Managing Fraud Risk shows you where to look for fraud, setting out a route-map for finding and fighting fraud risks in your business, with the practical, strategic advice you need.Combining the latest theory with forensic risk analysis, this book reveals how you can provide assurance to your Board and stakeholders. Practical examples are used to clearly show cost-effective techniques for preventing and detecting business fraud. An innovative fraud awareness quiz enables you to easily apply the theories and principles.Answers questions such as: Who commits more fraud: men or women? How many of your employees are prepared to falsify documents?Essential information to ensure your procedures are sufficient to meet compliance with new international legislation increasing the liability of directors and managers in cases of fraud and corruptionTakes a new perspective from the point of view of business risk, making it unique to other texts that take only an auditing, investigative, or specialist approachThis route-map is essential reading to help you navigate the complex landscape of business fraud. Anti-Fraud Awareness. Audit and Risk Division. 14. th. September 2016. Outline. Definition of Fraud Risks. Role of Audit and Risk Function. The fraud triangle. Trends . within . NLC. NLC Fraud Prevention Policy and Strategy. Why a New Standard? . Provide CPAs with . Clarified and Focused Auditing Guidance . on . Fraud. Re-emphasize the role of . entity management . and boards . in preventing . and detecting fraud. This Presentation .