Focus on Fraud - Corruption
Field: Fraud | Delivery Method: Self Study | CPE Hours: 1.5
The American Association of Certified Fraud Examiners has introduced the concept of a fraud tree. The tree delineates three major categories of fraud as:
- Asset Misappropriation
- Financial Statement Fraud
This course will evaluation the concepts that fall within the corruption segment of the fraud tree. We will examine the various components of corruption and solutions that can be used to mitigate corruption impacts. In doing so, we will evaluate the types of corrupt activity that may lend itself to financial fraud.
In addition, we will evaluate the sub-components of the corruption leg of the fraud tree. This includes:
- Conflict of Interest
- Illegal Gratuities
- Economic Extortion
To identify how fraud can be mitigated, individuals must understand the types of fraud that are most prevalent to their business.
- Explore the definition of corruption and its connection to fraud.
- Explore types of financial corruption, causes and specific business sectors involved.
- Explore the ACFE fraud tree that includes corruption.
- Examine aspects of:
- Illegal gratuities
- Economic distortion
Delivery Method: Self-Study
Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive
Business Consultant, Trainer, Author
Ms. Fountain has over 40 years of experience in the business profession, which includes public and industry accounting and over 20 years within internal and external auditing combined. She is a nationally recognized trainer and speaker and also a published author. She is a subject matter expert and specializes in Internal Audit, Sarbanes-Oxley, Enterprise Risk Management, Fraud, Governance and Compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. She currently performs consulting for companies on internal audit, risk management, internal controls, SSAE 18, financial reporting and accounting along with performing training. She has also been instrumental in the establishment of ERM, Sarbanes-Oxley and Governance frameworks.
Ms. Fountain has authored a publication for the Institute of Internal Auditors Research Foundation (IIARF) titled “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”. The publication will be released April 20, 2015. In addition, she is authoring a publication for Auerbach on “The Realities of performing the Chief Audit Executive Role”. The publication will be released in the Fall 2015. In addition, she has performed as an adjunct instructor for the School of Business for Grantham University and the School of Business at the University of Kansas.
Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has active, current CPA, CGMA, and CRMA credentials.