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Day 2- Session II

Learn about potential fraud risk indicators and high-risk areas through a case study on Xerox Corporation, highlighting management involvement in fraud. Identify red flags and employee fraud symptoms.

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Day 2- Session II

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  1. Day 2- Session II Potential fraud risk indicators and high risk areas RTI, Nagpur

  2. Session overview • Case study on Xerox corporation highlighting involvement of management in fraud • Employees’ fraud symptoms • Identification of ‘red flags’ RTI, Nagpur

  3. Learning objectives • Participants will learn to identify typical ways by which management try to project falsehoods before unsuspecting stakeholders through a case study • Participants will learn to observe unusual traits in employee behaviour involved in fraud and identify other ‘red flags’ RTI, Nagpur

  4. Typical employee fraud symptoms ·   Excessive credit memos ·   General ledger out of balance ·   Inventory shortage ·   Behavioural anomalies in employee - absence of leave, absence of vacation, changes in lifestyle, temperament, attitude RTI, Nagpur

  5. Risk indicators of unusual or anomalous trends ·    Insufficient working capital ·    Loss of key accounting and other financial personnel ·    Sole source procurement ·    Excessive travel cost ·    Transfer of funds between divisions without substance ·    Change in external auditors ·    Excessive consultant costs ·    Unexplained shortages in physical assets ·    Presence of many bank accounts RTI, Nagpur

  6. Additional risk indicators • Tips and complaints • Whistleblowers RTI, Nagpur

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