BarbriSFCourseDetails
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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Accounting

Date & Time
  • event Date

    Tuesday, September 1, 2020

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

$197.00
CPE
ALL

This course will provide nonprofit advisers and individuals involved with NPOs practical guidelines to identify and prevent common fraudulent schemes perpetrated against these organizations.

Faculty

Amy Altholz
Partner
RubinBrown

Ms. Altholz is the Vice Chair of the Firm's Not-For-Profit Services Group. Her focus is on assurance services and the not-for-profit industry. She has significant experience in audit, review, and internal controls and operations of not-for-profits, attest services, as well as tax returns and other filings for not-for-profits.

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Brandon Loeschner
Partner
RubinBrown

As Gaming Services Practice Leader, Mr. Loeschner is responsible for strategy, growth, client service, quality control and team member development for the practice. His expertise is in online and mobile gaming, gaming regulatory compliance consulting, and examination services focused on gaming system compliance, with the goal of achieving efficient and effective gaming regulation compliance. Mr. Loeschner brings the gaming industry specific experience performing internal audits, IT audits, control rationalization, risk assessments, compliance, operational audits, forensic reviews and financial modeling.

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Description

Every entity should implement practices and procedures to deter fraud. Nonprofit organizations, often run by volunteers or with limited staffing that creates segregation of duties challenges, may be more vulnerable than for-profit businesses. Nonprofit advisers working with NPOs as well as individuals working at NPOs need to ensure proper controls are in place to identify and prevent fraud from negatively impacting these worthy organizations.

Accounts of fraud and embezzlement at the expense of nonprofits pose a significant reputational risk for NPOs. The IRS requires disclosure via question number 5 on IRS Form 990, Return of Organization Exempt From Income Tax, which asks, "Did the organization become aware during the year of a significant diversion of organization's assets?" For NPOs filing the 990, this answer and its related disclosures on Schedule O, will be viewed by all peruses of the organization's 990.

Listen as our panel of nonprofit experts explains the prevalence of charitable fraud, including recent examples of NPO embezzlement, common fraud schemes, recognizing red flags, and steps NPOs can take to prevent the most frequent fraud scenarios. A simple understanding of typical schemes and the implementation of relatively simple, cost-effective procedures can circumvent later agony.

Outline

  1. Prevalence of fraud
  2. Recent examples of fraud
  3. Common types of fraud schemes
  4. Red flags
  5. Preventive and detective internal controls

Benefits

The panel will review these and other pertinent issues:

  • How can NPOs strengthen internal controls to guard against certain fraud?
  • What are the red flags that could lead to the identification of fraud?
  • What types of embezzlement commonly take place at NPOs?
  • What are easily implemented safeguards to protect an NPO?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify prevalent types of fraud committed in and to NPOs
  • Determine specific ways to strengthen internal controls in NPOs
  • Decide specific markers that may be red flags
  • Ascertain differences between NPOs and for-profit organizations relative to fraudulent activity

  • Field of Study: Accounting
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, preparing complex tax forms and schedules; supervisory authority over other preparers/accountants. Specific knowledge and understanding of cost allocation principles; familiarity with government standards for nonprofit organizations receiving federal grant monies

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.