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The Little Book of Local Government Fraud - Yellow Book Series (Course Id 1550)

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Author : Leita Hart-Fanta, CPA
Status : Production
CPE Credits : 3.0
IRS Credits : 0
Price : $50.00
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Auditing (Governmental) - Auditing (Governmental) for Course Id 1550

Description :

The Little Book of Government Fraud is for both the professional fraud examiner and lay-man alike. Even if you know little about fraud, Charles Hall, CPA, CFE, MAcc, will guide you to a much better understanding of how fraud is carried out and why it happens. The professional fraud examiner will find easy-to-understand prevention and detection techniques, which are complemented by a complete series of checklists.

Usage Rank : 0
Release : 2019
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 24-Jul-2019
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 1550

Keywords : Auditing (Governmental), The, Little, Book, Local, Government, Fraud, Yellow, Book, Series, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Identify common characteristics of fraudsters.
  • Identify various types of fraud schemes.
  • Recognize ways to detect and prevent fraud in local governments.
  • Recognize ways to prevent fraud by identifying varies types of fraud schemes
  • Recall various red flag situations for detecting and preventing fraud.
  • Identify the primary methods of stealing from governments.
  • Specify details of receipt and disbursement fraud tests.
  • Recall the three receipt fraud tests
  • Specify common times when detection of fraud surfaces.
  • Cite exemptions that may occur within local governments.
  • Select the dollar amount associated with median-sized governments.
  • Identify the importance of forensic audits.
  • Define terms associated with deficiencies in internal controls.
  • Identify ways of categorizing and communicating control weaknesses.
  • Recall lower cost options for preventing fraud in smaller governments.
  • Identify recommended internal controls for small governments.

Chapter 1
Local Government Fraud - An Overview

Objectives:
  • Identify common characteristics of fraudsters.
  • Identify various types of fraud schemes.

    Chapter 2
    General Local Government Fraud Prevention

  • Recall various red flag situations for detecting and preventing fraud.
  • Recognize ways to detect and prevent fraud in local governments.

    Chapter 3
    Transaction Level Fraud Prevention

  • Identify the primary methods of stealing from governments.
  • Recognize ways to prevent fraud by identifying varies types of fraud schemes.

    Chapter 4
    Detecting Fraud

  • Specify details of receipt and disbursement fraud tests.
  • Recall three receipt fraud tests
  • Specify common times when detection of fraud surfaces.

    Chapter 5
    Procuring Fraud-Related Audit Services

  • Cite exemptions that may occur within local governments.
  • Select the dollar amount associated with median-sized governments.
  • Identify the importance of forensic audits.

    Chapter 6
    Auditing and Certified Public Accountants

  • Define terms associated with deficiencies in internal controls.
  • Identify ways of categorizing and communicating control weaknesses.

    Chapter 7
    Supplemental Information

  • Recall lower cost options for preventing fraud in smaller governments.
  • Identify recommended internal controls for small governments.
  • Course Contents :

    Preface

    Course Learning Objectives

    Introduction

    $53 MILLION AND SOME CHANGE

     

    Chapter 1: Local Government Fraud - An Overview

    Objectives:

    Thou Shalt Not Steal

    The Poster Child

    While in France

    Fraud—What Is It?

    Three Fraud Categories

    Abuse—What Is It?

    Fraud Prevention and Detection

    Which Fraud Is More Common?

    Average Local Government Fraud Damages

    Average Life of a Fraud

    Fraud—Where It Happens

    Stealing from Little Old Ladies

    Stealing While Dying

    The Fraud Triangle

    Lessons Learned

    Study Questions for Chapter 1

     

    Chapter 2: General Local Government Fraud Prevention

    Objectives:

    Segregation of Duties

    A Simple Segregation of Duties Test

    Whistleblower Programs

    Red Flags of Fraud

    External Red Flags

    Cash Receipts and Billing Red Flags

    Disbursements and Purchasing Red Flags

    Payroll Red Flags

    Capital Assets Red Flags

    General Red Flags

    Hiring a Fraud Specialist—Before Fraud Occurs

    Study Questions for Chapter 2

     

    Chapter 3: Transaction Level Fraud Prevention

    Objectives:

    CASH RECEIPTS AND BILLING FRAUD

    Decentralized Cash Collections

    Why?

    Cash Drawers

    Elected Officials and Collections

    Check-for-Cash Substitution

    DISBURSEMENT AND PURCHASING FRAUD

    Bribes

    How Are Governments Harmed?

    The Power to Buy

    Detecting Bribes

    Mitigating Corruption

    Fictitious Vendors

    Mitigating Fictitious Vendor Risk

    Misuse of Old Vendors

    Misuse of Existing Vendors

    Altering Check Payees

    How?

    Duplicate Payments to Valid Vendors

    Credit Cards

    Wire Transfer Fraud

    PAYROLL FRAUD

    Duplicate Payments

    Ghost Employees

    Inflating Pay Rates and Hours Worked

    Backdoor Thefts of Payroll Withholdings

    Segregation of Payroll Duties

    CAPITAL ASSET FRAUD

    Planes, Trains, and Automobiles

    Nip It in the Bud

    Capitalization Thresholds

    Construction Fraud

    Kickbacks

    Over-Billing

    Deficient Materials and Cutting Corners

    Mitigating Construction Fraud

    Study Questions for Chapter 3

     

    Chapter 4: Detecting Fraud

    Objectives:

    Receipt Fraud Tests

    1.     Test Adjustments Made to Receivables

    Why test?

    How to test?

    2.     Confirm Checks Received

    Why test?

    How to test?

    3.     Search for Off-the-Book Theft of Receipts

    Why test?

    How to test?

    Disbursement Fraud Tests

    1.     Test for Duplicate Payments

    Why test?

    How to test?

    2.     Review the Accounts Payable Vendor File

    Why test?

    How to test?

    3.     Check for Fictitious Vendors

    Why test?

    How to test?

    4.     Compare Vendor and Payroll Addresses

    Why test?


    5.     Scan All Checks for Proper Signatures and Payees

    Why test?

    How to test?

    6.     Review Checks Falling Just Below Approval Limits

    Why test?

    How to test?

    Study Questions for Chapter 4

     

    Chapter 5: Procuring Fraud-Related Audit Services

    Objectives:

    What an Audit Is (and What It Is Not)

    Solicitation of Fraud-Related Audit Services

    Types of Audit Services

    GAAS Audits

    Forensic Audits

    Internal Control Review

    Who Performs Local Government Audits

    Study Questions for Chapter 5

     

    Chapter 6: Auditing and Certified Public Accountants

    Objectives:

    The Balance Sheet Approach

    Fraud Stings Auditor

    Lessons Learned

    Defining Internal Control Weaknesses

    How to Categorize a Control Weakness

    Communicating Control Weaknesses

    Study Questions for Chapter 6

     

    Chapter 7: Supplemental Information

    Objectives:

    Fraud Prevention for (Very) Small Governments

    First, let’s look at lower cost options:

    Now let’s examine some higher cost options (that are usually more effective):

    Local Governments Internal Control Checklist

    General Controls

    Cash Receipts and Billing Controls

    Disbursements and Purchasing Controls

    Payroll Controls

    Capital Asset Controls

    Local Government Fraud Resource List

    Books:

    Reports:

    Internet Groups:

    Fraud-Related Audit Groups:

    Fraud-Related Blogs:

    Internet Search:

    Documents:

    Fraud Software:

    Study Question for Chapter 7

     

    Bibliography

     

    Glossary

    CPE Auditing (Governmental) Course: https://www.cpethink.com/yellow-book-auditing
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