Financial Statement Fraud

Registration & Fees

Registration Fee:

ACFE Members: $439

Non-Members: $589

Course Outline

Day 1

• 8:00 – 9:20 a.m. Introduction and Revenue Recognition Schemes

  Financial statement fraud is committed for a wide variety of reasons, only a few of which overlap with asset misappropriation. Potential victims range from stockholders to lenders, employees, and others. This session will provide an overview of the circumstances often present when financial statement fraud occurs, followed by a discussion of the different techniques utilized to fraudulently report revenue. 

• 9:35 – 10:55 a.m. Expense, Asset, and Liability Recognition Schemes

  In this session, you will learn how financial statement fraud can be perpetrated in other sections of the financial statements, including underreporting of expenses and liabilities and overreporting of assets. This session also illustrates the importance of understanding that a misstatement in one account inherently requires a misstatement in another account—one of the keys to detecting financial statement fraud schemes. 

• 11:10 a.m. – 12:30 p.m. Asset Valuation and Liability Schemes

  One area of accounting and financial reporting that is especially vulnerable to manipulation involves asset valuation and impairment losses. This session is devoted to a discussion of the techniques used to fraudulently report assets at inflated values, as well as which assets are most prone to this type of manipulation. 

• 12:30 – 1:30 p.m. Lunch Break

  Lunch Break

• 1:30 – 2:50 p.m. Fraudulent Disclosures and Use of Non-GAAP Metrics

  Financial statement fraud isn’t limited to basic financial statements. This session will explain how the notes to financial statements can be used to deceive readers and hide underlying fraud schemes, while also providing clues about their existence. Additionally, companies are increasingly including non-GAAP performance measures as part of their reporting; some of these measures provide useful insight, but they can also be used to misrepresent a company’s performance.

• 3:05 – 4:25 p.m. Ratio Analysis and Other Detection Techniques

  Detecting financial statement fraud requires an understanding of the schemes used and the ability to recognize the red flags indicative of fraud. This session will explore many of the financial and nonfinancial ratios that can indicate the potential for fraud, as well as other indicators commonly observed when financial statement fraud is occurring. 

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