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Study guide for Executive Roadmap to Fraud Prevention-2nd Edition

The study guide is provided to guide you through the course material in a step by step format.

Reading assignments are for Executive Roadmap to Fraud Prevention and Internal Control-Second Edition by Martin T. Biegelman and Joel T. Bartow.

Forwards and Preface

Reading Assignment: Forwards and Preface <<>> Review Question: # 1

The learning objectives for this lesson are to gain an understanding of:

  • The authors' backgrounds
  • Why the book was written

1) Fraud’s Feeding Frenzy: Overview of Recent Corporate Scandals.

Reading Assignment: Chapter 1<<>> Review Questions: # 2-6

The learning objectives for this lesson are to gain an understanding of:

  • What is a "feeding frenzy" of corporate fraud
  • Recent corporate fraud scandals
  • "Chutzpah defense"

2) Fraud Theory and Prevention.

Reading Assignment: Chapter 2 <<>> Review Questions: # 7-13

The learning objectives for this lesson are to gain an understanding of:

  • What is fraud
  • Why people commit fraud
  • Can fraud be prevented?
  • Understanding the importance of fraud prevention

3) The Path to Greater Corporate Compliance, Accountability, and Ethical Conduct: COSO to Sarbanes-Oxley.

Reading Assignment: Chapter <<>> Review Questions: # 14-21

The learning objectives for this lesson are to gain an understanding of:

  • Recent history of fraud compliance initiatives
  • Culture of compliance
  • SAS 82
  • Sarbanes-Oxley
  • Auditor independence
  • Civil and criminal penalties

4) The Path to Greater Corporate Compliance, Accountability, and Ethical Conduct: SAS 99 to the 2010 Amendments to the Federal Sentencing Guidelines for Organizations.

Reading Assignment: Chapter 4 <<>> Review Questions: # 22-28

The learning objectives for this lesson are to gain an understanding of:

  • SAS 99
  • Fraud risk
  • Obtaining, identifying and assessing fraud risk
  • Evaluating audit evidence
  • Principles of Federal prosecution of business organizations
  • Section 404 of Sarbanes-Oxley
  • Enhanced sentencing guidelines

    5) Internal Controls and Antifraud Programs.

    Reading Assignment: Chapter 5 <<>> Review Questions: # 29-40

    The learning objectives for this lesson are to gain an understanding of:

    • Role of the compliance officer
    • Creating a culture of honesty
    • Evaluating antifraud processes and controls
    • Developing an oversight process
    • ACFE fraud prevention check-up
    • Fraud risk assessment process

    6) Financial Statement Fraud.

    Reading Assignment: Chapter 6 <<>> Review Questions: # 41-48

    The learning objectives for this lesson are to gain an understanding of:

    • Why do they take the risk?
    • The perception of detection
    • Is Sarbanes-Oxley working?
    • Red flags of financial statement fraud

    7) Internal Fraud: Protecting a Company.

    Reading Assignment: Chapter 7 <<>>Review Question: # 49-54

    The learning objectives for this lesson are to gain an understanding of:

    • Fraudulent disbursements and asset misappropriation
    • False billing schemes
    • Payroll schemes
    • Bribes and kickbacks

      8) Former Fraudster and New Man. 

      Reading Assignment: Chapter 8 <<>> Review Question: # 55-61

      The learning objectives for this lesson are to gain an understanding of:

      • Perspective of a fraudster

      9) External Fraud Schemes: The Rest of the Fraud Story.

      Reading Assignment: Chapter 9 <<>>Review Questions: # 62-68

      The learning objectives for this lesson are to gain an understanding of:

      • Classic fraud schemes
      • Credit card fraud
      • Online fraud

      10) Not Too Big to Fail

      Reading Assignment: Chapter 10 <<>>Review Questions: # 69-73

      The learning objectives for this lesson are to gain an understanding of:

      • The multiple causes of the financial crash of 2008
      • Overview of several of the large financial failures in the period such as
        • AIG
        • Lehman Brothers
        • Bear Sterns
        • Merrill Lynch

      11) Designing a Robust Fraud Prevention Program.

      Reading Assignment: Chapter 11 <<>>Review Questions: # 74-76

      The learning objectives for this lesson are to gain an understanding of:

      • Technology solutions
      • Base a fraud prevention program in internal audit
      • Role of human resources
      • Investigative plan
      • Recovery of defrauded assets from fraudsters

      12) Whistle-Blowers and Hotlines.

      Reading Assignment: Chapter 12  <<>>Review Questions: # 77-83

      The learning objectives for this lesson are to gain an understanding of:

      • Sarbanes-Oxley whistle-blower requirements and protections
      • Whistle-blower relief
      • Hotlines-how to build it right
      • Use of third-party vendors
      • The Federal False Claims Act

      13) Time to Do Background Checks.

      Reading Assignment:  Chapter 13 <<>>Review Questions: # 84-86

      The learning objectives for this lesson are to gain an understanding of:

      • Finding criminal records
      • Are background checks worth the cost?
      • Role of HR in background checks

      14) Training, Training, and More Training.

      Reading Assignment: Chapter 14 <<>>Review Questions: # 87-90

      The learning objectives for this lesson are to gain an understanding of:

      • Building fraud awareness
      • New employee orientation
      • Training different department personnel
      • Audit staff training
      • Data mining

      15) Global Fraud and Corruption Risk.

      Reading Assignment: Chapter 15 <<>>Review Questions: # 91-93

      The learning objectives for this lesson are to gain an understanding of:

      • Offshoring
      • The US Foreign Corrupt Practices Act
      • Assessing risk and due diligence
      • Bribery red flags
      • Transparency International

      16) The Feds Are Watching: What to Know and Do Now.

      Reading Assignment: Chapter 16 <<>>Review Questions: # 94-96

      The learning objectives for this lesson are to gain an understanding of:

      • The corporate fraud task force
      • FBI strategic plan for combating corporate crime
      • What to do if the Feds show up at the door

      17)  A Fraud Prevention Culture That Works.

      Reading Assignment: Chapter 17 <<>>Review Questions: # 97-100

      The learning objectives for this lesson are to gain an understanding of:

      • Zero tolerance for fraud and what it means to the organization

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