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FRAUD EXAMINATION ALBRECHT, ALBRECHT, & ALBRECHT

FRAUD EXAMINATION ALBRECHT, ALBRECHT, & ALBRECHT. Fraud Against Organizations. Chapter 15. Learning Objectives. Recognize the various ways in which employees, vendors and customers can steal assets. Describe the nature of thefts of cash through larceny, skimming, and fraudulent disbursements.

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FRAUD EXAMINATION ALBRECHT, ALBRECHT, & ALBRECHT

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  1. FRAUD EXAMINATIONALBRECHT, ALBRECHT, & ALBRECHT Fraud Against Organizations Chapter 15

  2. Learning Objectives • Recognize the various ways in which employees, vendors and customers can steal assets. • Describe the nature of thefts of cash through larceny, skimming, and fraudulent disbursements. • Explain the nature of thefts of inventory and other assets. • Understand the nature of bribery.

  3. Review Some Common Fraud Statistics

  4. Asset Misappropriations Define Asset Misappropriations

  5. Match Definitions. Delaying the recording of payments, record tomorrow’s payments as today’s Larceny Skimming Stealing cash before it is recorded Lapping Stealing cash that’s already recorded

  6. Define & Describe Check Tampering.

  7. What Are Three Common Cash Register Scams?

  8. Describe How Billing Schemes Work. Comment.

  9. Review Expense Schemes.

  10. Review & Comment on Payroll Scams.

  11. Inventory & Other Asset Frauds Occur What 2 Ways?

  12. Comment on 4 Types of Corruption.

  13. Define & Discuss Bribery.

  14. What is Conflict of Interest?

  15. Define Extortion & Illegal Gratuities.

  16. Terms Match Deceive someone to put money into a fake investment Economic Extortion scheme Disbursement Fraud Fictitious entity created to commit fraud An employee demanding from a vendor in order to influence a decision Dummy or Shell Company Investment Scheme Paying for something or paying too much for something it shouldn’t

  17. Terms Match “Paying off” or “bribing” public or company officials in order to get preferential treatment Bribery Stealing cash once it has been recorded in the records Corruption Another name for frauds committed against an organization Larceny Offering, giving, receiving, or soliciting anything of value to influence an official act Misappropriations

  18. Terms Match Stealing cash by preparing fraudulent checks or intercepting checks made payable to others Bid-rigging Scheme Employees assisting vendors in winning contracts by providing some kind of unfair advantage Check Tampering Embezzling a portion of the cash receipts of an organization Illegal Gratuities Payments made to reward favorable decisions – payment is made after the deal is approved Skimming

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