ACPEN Signature 2025-2026: Business Fraud Update and Managing the Risk of Fraud
Overview
Fraud has not been conquered. Although most organizations like to think, “it can’t happen to us,” the fact of the matter is that fraud can happen to any organization and its impact can be catastrophic. Accountability professionals are the first line of defense against fraud. When fraud happens, management always turns to the accountability professional and either says (a) “this must be your fault,” or (b) “you were right; you warned us; help us make sure this cannot happen again.” Consequently, accountants, internal auditors, external auditors, fraud examiners, and risk management professionals need to develop the skills needed to prevent, detect, and deter fraud and need to be proactive in promoting and effecting organizational change.
According to the Association of Certified Fraud Examiners’ (ACFE) 2024 Report to the Nations:
- The median loss per fraud case is $145,000; the average loss per fraud case is $1.7 million.
- 43% of frauds are discovered by tips, usually from employees.
- Asset misappropriation schemes are the most common (89%) but least costly ($120,000 median loss).
- Financial statement fraud schemes are the least common (5%) but most costly ($766,000 median loss).
- Corruption is the most common scheme in all global regions.
- Median losses for frauds by owners/executives ($459,000) were more than 7X GREATER than those carried out by employees ($60,000).
- 84% of fraudsters exhibited at least one behavioral red flag.
- Organizations that have implemented anti-fraud measures suffer significantly lower losses and find fraud much more quickly.
These conclusions are alarming and should be a wake-up call for all business and government professionals. The impact of fraud is always devastating and can be catastrophic. The 2025 Business Fraud Update is another fast-moving seminar that will provide a comprehensive look at the latest developments about fraud from the technical, legal, and operational perspectives and update participants on the most recent legal and regulatory developments in this important area of professional responsibility.
In addition, our panel of legal, accountability, and forensic experts will explain key steps and methods in conducting a successful fraud investigation:
- Establishing predicate for an investigation
- Gathering and preserving evidence
- Conducting interviews and obtaining confessions
- When to involve law enforcement professionals and regulators
- The CPA's Role
- Preparing an expert report
- Providing expert testimony
- Implementing corrective action plans
Highlights
- Business Fraud
- Fraud Risk Management and Fraud Risk Assessments
- Data Analytics and Digital Analysis
- Providing Forensic Services
- Conducting Investigations
Prerequisites
None
Designed For
Industry and Government Accountability Professionals, Certified Public Accountants, Certified Fraud Examiners, and Risk Management Professionals
Objectives
- Understand fraud risk management from the technical, legal, and operational perspective.
- Learn the most recent legal and regulatory developments pertaining to fraud deterrence, prevention, and detection.
- Understanding what to do (and what not to do) in conducting investigations into suspected fraud.
Preparation
None
Notice
This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).
Leader(s):
Leader Bios
David Cotton, Cotton & Company LLP
Dave Cotton has served as Cotton & Company’s managing partner since the firm’s founding in 1981 until July 2006. In July 2006, with the election of two new managing partners, he became the firm’s first chair. Dave served on the Advisory Council on Government Auditing 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. Dave also served on the American Institute of CPA’s (AICPA) Anti-Fraud Task Force and co-authored Management Override: The Achilles Heel of Fraud Prevention. He 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 also chaired the Fraud Risk Management Task Force, sponsored by COSO and the ACFE and is a principal author of the COSO-ACFE Fraud Risk Management Guide. He currently serves on the AICPA’s Performance Audit Standards Task Force. Dave served on the board of the Virginia Society of Certified Public Accountants (VSCPA), and on the VSCPA Litigation Services Committee, Professional Ethics, Quality Review and Governmental Accounting and Auditing committees. He is a member of the Association of Government Accountants (AGA) and is past-advisory board chairman and past-president of the AGA Northern Virginia Chapter. Dave is also a member of the Institute of Internal Auditors and the Association of Certified Fraud Examiners. Dave has testified as an expert in governmental accounting and auditing issues and fraud issues before the U. S. Court of Federal Claims and other administrative and judicial bodies. He makes frequent presentations on professional ethics and fraud topics. Dave has instructed for the George Washington University Master of Accountancy program (Fraud Examination and Forensic Accounting) and for the George Mason University Small Business Development Center (Fundamentals of Accounting for Government Contracts). Dave was the recipient of the AGA’s 2006 Barr Award and the AGA’s 2012 Educator Award.
Non-Member Price $300.00
Member Price $250.00