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Preventing Insider Fraud, Expense Cheating, and Embezzlement, by Lorman

Preventing Insider Fraud, Expense Cheating, and Embezzlement is brought to you by Lorman

Learn to prevent and address fraud, embezzlement, and expense account fraud.

Employees, like others, commit fraud and embezzlement, for example, when they perceive they can. In this regard, employees are often in the best position to appreciate where internal controls and organizational oversight do not capture risk or are insufficient to prevent fraud, expense account abuse, and embezzlement. Organizations will also do well to remember that the highest-paid employees often have the least oversight and the ability to spend funds. This program will cover how organizations can prevent and address fraud, embezzlement, and expense account fraud. Among the topics to be discussed are: effective employment screening, use of hotlines, the role of internal audits, reporting to the Board, relying (or not) on financial statement audits by outside accountants, getting appropriate insurance — fidelity and cybercrime, assessing ownership of devices, pros and cons of contacting law enforcement, performing due diligence, and using outside firms to support your organization if there are insufficient internal resources and knowledge to address control failures.

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