This course review the top internal controls organizations can use to prevent and detect fraud.
Fraud continues to be perpetrated and has in many ways grown and expanded in various new and evolving risk areas. As technology continues to advance, so do the methods used to perpetrate fraud. In addition, the fraudster seems to be getting more intelligent and developing innovative ways to plague businesses and individuals.
In today’s digital world, internal controls are a critical element to allow organizations to prevent and detect fraud. Without proper internal controls, the “opportunity” portion of the fraud triangle is exposed. It becomes an area where employees and other professionals can take advantage and perpetrate fraud.
This course review the top internal controls organizations can use to prevent and detect fraud. A great deal of information and statistics is taken from the Association of Certified Fraud Report to the Nations. Other good resources include the Kroll Fraud Report and the Committee of Sponsoring Organizations fraud guidance at COSO.org
Field of Study: Auditing
Lynn Fountain has over 45 years of experience spanning public accounting, corporate accounting and consulting. 24 years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. In 2011, as the Chief Audit Executive for an international construction/ engineering firm, she was involved in the active investigation of a joint venture fraud. The investigation included work with the FBI and ultimately led to indictment of the perpetrators and recovery of $13M. Ms. Fountain is currently engaged in her own training and consulting business and is a regular trainer for the AICPA. Ms. Fountain is the author of three separate technical books. “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations” was published by the Institute of Internal Auditors Research Foundation. -“Leading The Internal Audit Function” and -“Ethics and The Internal Auditor Political Dilemma” were published by Taylor & Francis In addition Ms. Fountain was a contributing author to the certification program exam for the National Association of Accountants. She also has certificate programs on various on-line platforms. Ms. Fountain has performed as an adjunct instructor for the School of Business for Grantham University and developed the first internal audit curriculum for the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate (non-active).
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