Financial Statement Frauds constitute one of the highest median loss in occupational fraud landscape.

As per Reports To The Nation Survey, 2022, published by The Association of Certified Fraud Examiners (ACFE), Financial Statement Fraud Schemes constitute 9% of the total fraud and a median loss of $593000. 

The top management (CXOs) are primarily responsible for such frauds.

Not having ethical tone at the top and managements power to override existing controls contribute to such frauds.

You will learn the following in this course:

What is financial statement fraud?

The Fraud Tree

The Fraud Triangle by Dr. Donald Cressey which includes:

Pressure

Opportunity

Rationalization

Fictitious Revenue

Red Flags to identify Fictitious Revenue

Timing Differences

Red Flags to identify Timing Differences

Improper Asset Valuation

Red Flags to identify Improper Asset Valuation

Concealed Liabilities & Expenses

Red Flags to identify Concealed Liabilities & Expenses

Improper Disclosures

Red Flags to identify Improper Disclosures

How to analyse Financial Statements

Vertical Analysis

Horizontal Analysis

Ratio Analysis

Tax Return Analysis

Prevention of Financial Statement Frauds

Simple techniques and examples, illustrations have been used in an immersive way to enhance learner experience. Concepts are explained in a lucid manner enabling beginners to CXOs to understand the frauds perpetrated in financial statements.