15 +/- years internal and external accounting THATS A GREAT - - PowerPoint PPT Presentation

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15 years internal and external
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15 +/- years internal and external accounting THATS A GREAT - - PowerPoint PPT Presentation

Oct 27, 2023 265 likes •667 views

Melissa B Hall, CPA, CFE Associate Director, Forensic Audits 5 years - Georgia Institute of Technology 15 +/- years internal and external accounting THATS A GREAT QUESTION Identify High Risk Learn what you can do Tools available

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Melissa B Hall, CPA, CFE Associate Director, Forensic Audits 5 years - Georgia Institute of Technology 15 +/- years internal and external accounting “THAT’S A GREAT QUESTION”

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Fraud

Tools available to Fraudsters Identify High Risk Financial Transactions Learn what you can do in the Fight against Fraud

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Fraud Triangle

Opportunity Pressure

Rationalization

Rationalization Pressure

Fraud

Opportunity

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Opportunity

  • Defines the method by

which the offense could

  • ccur
  • Position of trust is used

for the advantage of the fraudster

  • Low perceived risk of

getting caught

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Pressure

  • Begins with person

trying to solve financial need

  • Unable to pay bills
  • Addictions
  • Desire for higher social

status

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Rationalization

  • Used to tell themselves why their actions are

acceptable

  • “Borrowing” only – intent to pay it back
  • “I’m underpaid anyway, so it’s ok for me to

take this”

  • “I haven’t had an adequate pay increase”
  • “It’s owed to me – I’m entitled”
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Internal Audit Finding

Suspected Malfeasance

BOR Policy

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ACFE 2012 Report to the Nations – Characteristics

  • first-time offenders
  • clean employment histories
  • never been charged or convicted
  • never been punished or

terminated by an employer for fraud-related conduct

.

Who Commits Fraud?

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ACFE 2012 Report to the Nations – Characteristics

  • living beyond means (36%)
  • financial difficulties (27%)
  • unusually close association with

vendors or customers (19%)

  • excessive control issues (18%)

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Behavioral Red Flags

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Who Commits Fraud?

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Profile Characteristics –

www.acfe.com

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Profile Characteristics – Translation to

  • ur environment
  • Access to multiple funding sources
  • “Don’t you know who I am?” “Don’t you

know how much money I bring into this

  • rganization?”
  • Delegated Authority – Limited Oversight
  • Potential for Conflicts of Interest
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Fraudster Internet Resources

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Fraudster Internet Resources

www.salesreceiptstore.com

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Fraudster Internet Resources

www.salesreceiptstore.com

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Fraudster Internet Resources

www.salesreceiptstore.com

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Internet Resources

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Templates

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Templates

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Pcards - Level 3 data Travel Conflict of Interest

Identify High Risk Financial Transaction

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Your Internet Resources

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Google Vs. Bing

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Google Vs. Bing

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Google Alerts

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Other Internet Resources

Whois.com - Domain Names & Identity for Everyone

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Other Internet Resources www.archive.org

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Social Media Quiz

Facebook

LinkedIn Twitter YouTube Google Yahoo

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Social Media Quiz

Instagram Google + Pintrest Vine Snap Chat Delicious Reddit

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What should you be looking for?

1 2 3 4

Does this make sense? Patterns

Inconsistencies Irregularities

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Examples

Paintball Invoice for Reimbursement from SGA.pdf Extra Cab Expenses - Not Reimbursable.pdf Jacko - Trip Purpose.pdf Harris forged check Req.pdf Gamble receipt

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Examples

PayPal - Real Examples.pdf Another Georgia Tech Professor Under Criminal Investigation

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Patterns of Behavior

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Patterns of f Behavior

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Patterns of Behavior

  • Recurring dates/times
  • Recurring names on receipts
  • Recurring travel patterns
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Melissa B. Hall, CPA, CFE Department of Internal Auditing Associate Director, Forensic Audits Georgia Institute of Technology 756 West Peachtree Street, NW Atlanta, GA 30332-0254 (p) 404-894-3927 melissa.hall@business.gatech.edu