Detecting and Auditing for Fraud in Financial Statements: Identifying the “Red Flags” and Risk Management Techniques

Financial risks are linked to your company's administrative and operational procedures ranging from your IT systems, to regulations to recruitment. Rising revenue without corresponding growth in cash flow — this is the most common warning sign of financial statement fraud. 

This AML compliance webinar will look at the use of financial statements as a tool to commit fraud upon the financial sector and investors and common tricks used by fraudsters, as well as identifying “red flags” for potential problems.

There are red flags and warning signs that are often missed in detecting financial statement fraud.
Many companies have started addressing financial statement fraud due to the financial losses suffered and collapse of their well-established brand identity. 

Financial fraud is a serious white-collar crime that often results in harsh penalties and fines. If you are an auditor or a financial statement preparer, you must be aware of the red flags or potential red flags for fraud in financial statements. Other users of financial statements, such as shareholders, regulators, and creditors, will benefit from this as well.

This webinar will discuss some of the ways in which one relying on such financial information may take steps to prevent falling victim to fraud.

• Understand the components and red flags of fraud
• Management’s responsibility in fraud prevention
• Practical approach that can be applied

• Financial Statement Fraud – what is it and some examples of its use
• Often-used tricks to commit fraud in financial statements
• How to verify financial statement information
• Red flags -how to identify potential fraudulent information
• What to do when potential fraud is found or identified
• How to confront a person or company providing fraudulent information
• Developing a policy to verify fraud and risk management techniques
• Some recent notable cases involving financial statement fraud

• CFO, CPA, CIA
• CFEs, CFFs, Fraud Investigators 
• Banks and other financial institutions
• Credit Unions
• Financing Companies
• Risk Managers
• Securities Dealers
• AML Compliance Officers
• Heads/Directors of AML Compliance
• Anti-Money Laundering Investigator
• CCOs (Chief Compliance Officers)
• MLROs, (Money Laundering Reporting Officers)