Fraud Risk

Misappropriation of Assets

Course Overview
In this course, you will learn techniques to identify, detect and prevent asset misappropriation. Asset misappropriation schemes, while not the largest from a dollar standpoint, are the most common type of occupational fraud. The fraud triangle will be discussed in the context of these schemes. The absence of strong internal controls often provides the opportunity element of the fraud triangle. Pressure and rationalization, the other elements of the fraud triangle, are unique to the individual. Strengthening internal controls, particularly segregation of duties, helps to prevent future asset misappropriation in the organization.

Learning Objectives:

After completing this course, the course participant should be able to:
  • Define asset misappropriation as it relates to occupational fraud.
  • Recognize the major types of asset misappropriation schemes.
  • Identify red flags associated with asset misappropriation schemes.
  • Determine fraud prevention strategies centered on improving internal controls.

  • Prerequisites/Advanced Preparation:


    Speaker / Author:

    John M. Fleming, CPA, MBA, is currently the Director, Content Development for SmartPros LTD, a division of Kaplan Professional Education. SmartPros is an international educational and training company specializing in accounting, finance and ethics educational programs. John previously served as President and Director of Accounting and Auditing for LOSCALZO ASSOCIATES, a division of SmartPros for twenty-eight years. John retired as President of Loscalzo Associates on January 1, 2014.

    John’s prior practice experience includes audit, tax, consulting, office management, and human resource responsibilities with Deloitte LLP, Richard Eisner & Company LLP, and Ernst & Young LLP. John is a graduate of LaSalle and Drexel Universities with degrees in accounting and finance.

    John, a Pennsylvania CPA, served as the 1999/2000 President of the 8,300 member Greater Philadelphia Chapter of the Pennsylvania Institute of Certified Public Accountants (PICPA) and currently serves as a member of the Institute’s Accounting and Auditing Technical Committee. In 2006, the PICPA recognized John as a Joseph E. Sterrett Fellow for his contributions to the accounting profession and in 2007, the Philadelphia Chapter recognized John with their Champion Award for his contributions to the PICPA, Chapter, profession and community. John has also served as the 2002/2003 President of the American Accounting Association’s Mid-Atlantic Region.

    John and his wife Marge live in Medford, New Jersey.


    Price (USD)

    Standard: $24.95


    Course Code : 99FLE08

    Release Date : 04/15/2014
    Expire Date : 12/31/2020
    Credits :
    CPE 1.00
    QAS 1.00

    Length : 50min
    Course Level : Basic
    Course Type : New Standards
    Passing Grade : 70%
    Format Type : eLearning
    Mobile Compatible
    Field Of Study : Auditing

    Theme : Fraud Risk

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