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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Financial Statement Fraud | 10–15% | - Timing and disclosure manipulations - Detection and red flags - Expense and liability understatements - Revenue and asset overstatements |
| Topic 2: Asset Misappropriation – Cash Receipts | 5–10% | - Cash larceny schemes - Prevention and detection methods - Cash skimming schemes |
| Topic 3: Accounting Concepts | 5–10% | - Financial statements structure - Basic accounting principles - Recording and summarizing transactions - Internal control fundamentals |
| Topic 4: Identity Theft | 1–5% | - Prevention and detection - Types and techniques |
| Topic 5: Industry-Specific Financial Crimes | 15–25% | - Real estate and securities fraud - Healthcare fraud - Financial institution fraud - Insurance fraud - Cyber-enabled and cryptocurrency fraud |
| Topic 6: Asset Misappropriation – Cash Disbursements | 10–15% | - Billing schemes - Check and payment tampering - Expense reimbursement schemes - Payroll schemes |
| Topic 7: Corruption Schemes | 5–10% | - Bribery and kickbacks - Conflicts of interest - Illegal gratuities and extortion |
| Topic 8: Asset Misappropriation – Non-Cash Assets | 5–10% | - Concealment techniques - Misuse of assets - Inventory and equipment theft |
| Topic 9: Theft of Data and Intellectual Property | 5–10% | - Corporate espionage - Safeguarding proprietary information - Data and IP theft methods |
1. Reconciling the sales records to the cash receipts is an effective way to detect a sales skimming scheme.
A) False
B) True
2. Which of the following methods is NOT used to detect conflicts of interest?
A) Interviews with purchasing personnel
B) Review of vendor ownership files
C) Tips & Complaints
D) Underbillings of assets
3. Which of the following is NOT a justifiable reason to depart from generally accepted accounting principles (GAAP)?
A) The expected costs associated with following GAAP would exceed the expected benefits of compliance.
B) The application of GAAP could produce misleading financial statements.
C) It is likely that assets would be understated and liabilities would be overstated.
D) A transaction is considered immaterial and therefore irrelevant to the accurate interpretation of financial statements.
4. Asset misappropriations have an effect on the liabilities and do also have an indirect effect on the equity account.
A) False
B) True
5. Which of the following is NOT a measure that is commonly taken by fraudsters during account takeover schemes?
A) Using log-in credentials that have been stolen from one account to attempt to gain access to other payment accounts
B) Obtaining email addresses and other account log-in information by sending phishing emails
C) Placing orders for products or transferring funds from the overtaken accounts
D) Ensuring that the contact information for the overtaken account remains the same to avoid alerting the true account holder
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: D |
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