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Live Webcast Replay

Fraud Risk Management and Assessment


Total Credits: 2 including 1 Accounting (Governmental) - Technical, 1 Auditing (Governmental) - Technical

Average Rating:
   98
Categories:
Accounting and Auditing |  ACPEN Industry Institute |  Industry
Speaker:
David L. Cotton, CPA, CFE, CGFM
Course Levels:
Intermediate
Duration:
2 Hours
Product Type:
Live Webcast Replay
License:

Dates


Description

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) began its existence with a focus on fraud.  Soon, however, COSO shifted its attention to internal controls.  ALL publicly-traded US companies (as well as most other organizations around the world) follow the COSO Internal Control Framework (ICF), initially published in 1992.  COSO returned to its fraud-focused roots when it revised the ICF in 2013.  COSO added 17 important principles, including Principle 8: The organization considers the potential for fraud in assessing risks to the achievement of objectives.  In response to COSO-follower needs for further guidance on assessing fraud risk, COSO (along with the ACFE) published a new Fraud Risk Management Guide in September 2016.  This course will explain what this new fraud risk management guidance requires, what it portends for accountability professionals working for corporations and other organizations, and what it will mean for auditors.  Every organization that uses the COSO ICF will benefit from this course on this important new guidance.

Basic Course Information

Learning Objectives

* Understand the background and history of COSO's Internal Control Framework and the new Fraud Risk Assessment requirement

* Understand the format and content of the new COSO/ACFE Fraud Risk Management Guide

* Understand how to conduct a comprehensive fraud risk assessment

* Consider the future possibilities related to managing fraud risk


Major Subjects

* Committee of Sponsoring Organizations (COSO) of the Treadway Commission

* COSO's Internal Control--Integrated Framework

* Fraud risk governance

* Assessing fraud risk

* Fraud Control Activities

* Fraud reporting, investigation, and followup

* Fraud Risk Management monitoring

* Implications for auditors


Course Materials

Speaker

David L. Cotton, CPA, CFE, CGFM's Profile

David L. Cotton, CPA, CFE, CGFM Related Seminars and Products


Dave Cotton is chairman of Cotton & Company LLP, Certified Public Accoun­tants, headquartered in Alexan­dria, Virginia.  The firm was founded in 1981 and has a practice concentration in assist­ing Federal and State government agencies, inspectors general, and government grantees and contractors with a variety of govern­ment program-related assurance and advisory services.  Cotton & Company has performed grant and contract, indirect cost rate, financial statement, financial related, and performance audits for more than two dozen Federal inspectors general as well as numer­ous other Federal and State organizations, programs, activities, and functions. 

Cotton & Company’s Federal agency audit clients have included the U.S. Government Accountability Office, U.S. Navy, U.S. Marine Corps, U.S. Transportation Command, U.S. House of Representatives, U.S. Capitol Police, U.S. Small Business Administration, U.S. Bureau of Prisons, Millennium Challenge Corporation, U.S. Marshals Service, and Bureau of Alcohol, Tobacco, Firearms and Explosives.  Cotton & Company also assists numerous Federal agencies in preparing financial statements and improving financial management, accounting, and internal control systems.

Dave received a BS in me­chanical engineering (1971) and an MBA in management science and labor rela­tions (1972) from Lehigh University in Bethle­hem, PA.  He also pursued gradu­ate studies in accounting and auditing at the University of Chicago Graduate School of Business (1977 to 1978).  He is a Certified Public Accountant (CPA), Certified Fraud Examiner (CFE), and Certified Government Financial Manager (CGFM).

Dave served on the Advisory Council on Government Auditing Standards (the Council advises the United States Comptroller General on promulgation of Government Auditing Standards—GAO’s yellow book) from 2006 to 2009.  He served on the Institute of Internal Auditors (IIA) Anti-Fraud Programs and Controls Task Force and co-authored Managing the Business Risk of Fraud: A Practical Guide.  He served on the American Institute of CPAs Anti-Fraud Task Force and co-authored Management Override: The Achilles Heel of Fraud Prevention. Dave is the past-chair of the AICPA Federal Accounting and Auditing Subcommittee and has served on the AICPA Gov­ernmental Accounting and Auditing Com­mit­tee and the Government Technical Standards Subcom­mittee of the AICPA Profes­sional Ethics Execu­tive Commit­tee.  Dave chaired the Fraud Risk Management Task Force, sponsored by COSO and ACFE and is a principal author of the COSO-ACFE Fraud Risk Management Guide. 

Dave served on the board of the Virginia Society of Certified Public Accountants (VSCPA) and on the VSCPA Litigation Services, Professional Ethics, Quality Review, and Governmental Accounting and Auditing Committees.  He is a member of the Association of Government Accountants (AGA) and past-advisory board chairman and past-president of the AGA Northern Virginia Chapter and currently serves on the AGA Professional Ethics Board.  He is also a member of the Institute of Internal Auditors and the Association of Certified Fraud Examiners (ACFE).

Dave has testified as an expert in governmental accounting, auditing, and fraud issues before the United States Court of Federal Claims and other administrative and judicial bodies. 

Dave has spoken frequently on cost accounting, professional ethics, and auditor fraud detection responsibilities under SAS 99, Consideration of Fraud in a Financial Statement Audit.  He has been an instructor for the George Washington University masters of accountancy program (Fraud Examination and Forensic Accounting), and has instructed for the George Mason University Small Business Development Center (Fundamentals of Accounting for Government Contracts). 

Dave was the recipient of the ACFE 2018 Certified Fraud Examiner of the Year Award (“presented to a CFE who has demonstrated outstanding achievement in the field of fraud examination …  based on their contributions to the ACFE, to the profession, and to the community”); AGA’s 2012 Educator Award (“to recognize individuals who have made significant contributions to the education and training of government financial managers”); and AGA’s 2006 Barr Award (“to recognize the cumulative achievements of private sector individuals who throughout their careers have served as a role model for others and who have consistently exhibited the highest personal and professional standards”).


Additional Info

Basic Course Information

Prerequisites

None


Advanced Preparation

None


Designed For

Internal and external auditors at all levels; accountants and risk management professionals at all levels


Original Recording Date

01/09/2018


Yellow Book

Yes


Course Developer

David L. Cotton, CPA, CFE, CGFM


Date Added to Catalog

01/07/2018


Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Instructional Delivery Method Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.

Reviews

5
4
3
2
1

Overall:      4.6

Total Reviews: 98

Comments

Rumiko O

"Very comprehensive and timely presentation. Enjoyed the presentation very much. Mr. Cotton is a true expert!"

Vincent S - north mankato, Minnesota

"One of the best courses I have attended in some time!"

Bolt J

" "

Angela B - Fort Worth, Texas

"This course provided a good framework for laying out a matrix in our organization to assist us the the assessment of Fraud risk. "

Henry B

"Very good update on IC and Fraud"

Roger S

"I have used ACPEN in the past. Great internet technology. "

Lori Franckowiak L

"Mr Cotton provides great resources for additional information. This subject can be overwhelming but he does an excellent job in breaking it up in logical steps."