22 Sep 2021
12:25 - 13:15
DAY 2 - TRACK 3 - SESSION 4
Fraud Risk After COVID-19Level: Intermediate
Fraudsters love chaos because it provides opportunity. The COVID-19 pandemic has upended normal processes and activities leaving everyone, business and individuals, more susceptible to fraud. The ACFE recently reported there is expected to be a significant increase in fraud risk due to the pandemic. Changes in organizational processes and professional interactions is creating opportunity for fraud. There is expected to be an increase in all areas of fraud – corruption, asset misappropriation and potentially most damaging, financial statement fraud.
This session will examine the most likely and anticipated fraud schemes to occur as a result of COVID-19 and how to prevent and detect new and emerging fraud and fraud risk. It will look at the changes in pressure and opportunity for fraud as related to the significant changes being experienced and what organizations should be doing to prepare and deal with increased fraud risk.
In this session, you will learn:
What’s changed and why it will provide opportunity for fraud
What auditors, accountants, fraud examiners should be looking at in their organizations
Most significant areas of concern post COVID-19
What individuals should be concerned about personally
What every individual and organization should be doing post COVID-19 to fight fraud.