Learnings from Dixon, IL: How to detect and prevent financial reporting fraud
Today’s Presenters Kelly Richmond Pope Joe Howell CPA, Ph.D. Co-Founder, EVP Associate Professor, DePaul University Workiva Chief Content Officer, Helios Digital Learning
Obtaining Your CPE Credit • One hour of CPE credit • Four attendance questions asked during webinar • Logged in with correct contact information
Learnings from Dixon, IL: How to detect and prevent financial reporting fraud
About Kelly • Founder, Helios Digital Learning • Associate Professor of Accounting, DePaul University • Documentary filmmaker • Forensic storyteller
My Fraud Story
Workplace Employee Crimes • Anti-organizational • Pro-organizational • Non-aligned organizational
Anti-Organizational • Driven by the desire to harm others and result in gain • Acts include: • Workplace deviance • Minor infractions • Filing false expense statements
Pro-Organizational • Crimes committed with the intent to benefit one’s organization • Employees may participate to: • Advance their company’s reputation • Meet financial goals
Pro-Organizational • Acts include: • Overstating revenues to strengthen a company’s position among shareholders • Customer deceit to increase product sales
Non-Aligned Crimes • Primary motive is for personal gain • Committed by employees at higher levels such as managers or executives who have access to information • Examples include organizational corruption including accepting bribes and insider trading
Before Rita Crundwell
Dixon’s Mistakes • Ignoring a lavish lifestyle • Lack of review • No one questioning the budget • Failure to share duties
The Settlement Janis Card & Associates 35.15 MILLION 3.85 MILLION 1 MILLION
Fraud Can Happen in Organizations When…
Too Many Moving Parts
How Can Technology Help? • Automation reduces risk (manual processes can lead to fraud) • Tying reports together • Ability to trace changes • Making information easier to understand
Selected Publications and Media
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