TOPIC OF FOCUS: FRAUD
Free Third Thursday-When Internal Controls Break Down
When Internal Controls Break Down: 9 Often-Overlooked Areas Where Controls Fall Apart in the Accounts Payable Function
April 18, 2012
11:30...
Start Date:
4/18/13
Confirmation.com further illustrates its commitment to information security by achieving an ISO 27001 certification
Confirmation.com, the creator and the world’s leading provider of secure audit confirmation services, announced today that it has earned the prestigious ISO 27001 certification. This certification...
AP Fraud Schemes - Background for writing fraud prevention policies
This tool identifies the most common AP fraud schemes, including the symptoms and the traditional detection methods for each.
Improper tone at the top causes breakdown in basic AP controls
Sloppy controls and abuses by the superintendent, board members, and senior employees of a Southwestern school district illustrate how poor financial leadership can lead to multiple instances of...
Technology boosts check fraud, keeping AP on front lines
A recent survey revealed that nearly 70 percent of corporate respondents had been hit by check fraud. The most common type of fraud was alteration of the payee name (68 percent), and the second most...
Despite Sarbanes-Oxley, losses due to fraud up 20 percent — accounting tops list
Business losses due to fraud increased 20 percent in recent months, according to the 2010/2011 Global Fraud Report from risk consulting firm Kroll Inc.
Try these best practices for giving your supplier data a makeover that will stick
Organizations have begun to realize that the half-life of useful and accurate information is similar to that of someone who has gone through a one-time-only makeover. In other words, give that company...
Write-offs and other schemes: How they work and how to stop them
There are numerous popular approaches to fraud among AR employees, including write-off schemes, lapping, or forced balancing. Typically, receivables schemes succeed because of a lack of internal...
Case study: Living large at Citigroup
Despite an ostentatiously extravagant lifestyle, it wasn’t until internal auditors noticed some discrepancies regarding wire transactions at Citigroup that Gary Foster was caught as the mastermind of...
5 practices to prevent P-card misuse and fraud
When cases of P-card misuse are reported, it’s easy to think they represent the norm, rather than the successful programs that don’t make the news. But those successes shouldn’t lead to lax practices....
A Brazen Disbursements Fraud Scheme
On December 19, 2009, the community of Milwaukee, WI, and the stakeholders of the Koss Corp. woke up to find out that, the CFO and VP of Finance, Sue Sachdeva, had embezzled millions of dollars from...
Maintaining a Safe Environment for Payment Cards
“Maintaining a Safe Environment for Payment Cards: Examining Evolving Threats Posed by Fraud,” was designed both to continue discussion of topics that emerged from a September 2006 conference on data...
21st Century Financial Controls
This tool illustrates the potential monetary loss from fraud, what to look for in monitoring software, risk factors to watch, and the need to incorporate comprehensive controls.