Course Number:

Credit Hours:

1

Course Title:

Occupational Fraud and Abuse

Course Description:

Provides an overview of both the pervasiveness and the causes of fraud/white-collar crime in our society; examines the types of fraud and fraud schemes that affect business enterprises; explores methods of fraud detection, investigation, and prevention; and helps increase one’s ability to recognize potential fraud and develop a “fraud-risk-management” philosophy. Fraud and abuse can be categorized into employee fraud (misappropriation of assets) and management fraud (fraudulent financial reporting). Occupational fraud and abuse cost U.S. organizations an estimated $400 billion annually. The average organization loses more than $9 a day per employee. Approximately 6 percent of total annual revenue of businesses is lost to employee fraud alone. Although employee fraud occurs more often, management fraud is four times more costly. Recent corporate scandals support these statistics.