#3 New Year's Resolution: Expand International Growth Efforts to New Regions

GUEST BLOGGER

Kevin Taparauskas, CFE
ACFE Director of Marketing and Events

#3: Expand International Growth Efforts to New Regions

The first-ever ACFE Asia-Pacific Fraud Conference, held last October in Singapore, was a great success, with more than 200 attendees representing 23 countries. I had the pleasure of attending this eye-opening event in a part of the world where the ACFE is quickly growing. I knew we had loyal members in the region, but I was honored to witness the enthusiasm of our attendees and their dedication to truly growing the profession. I now understand why we have expanded so rapidly in the region for the last several years.

With members in more than 150 countries, the ACFE is truly an international association. However, certain regions have a much stronger foothold of CFEs and anti-fraud professionals than others. This discrepancy is changing, and the ACFE is committed to building a strong presence throughout the world.

The ACFE intends to fully support and help facilitate ongoing growth. I announced to attendees at the conclusion of the Asia-Pacific Conference that the ACFE would hold our first CFE Exam Review Course in Singapore, March 26-29. We are also currently working on a regional call center based in Singapore that will greatly improve support for all of our members in the Asia-Pacific region and beyond.   In addition, we are committed to returning to the region for additional training seminars and the second ACFE Asia Pacific Conference in late 2012. We hope to emulate this in cities and countries all over the world, and we are excited to take these next steps.

With the global nature of fraud in business today, it is essential for the ACFE to have an international presence in every country in the world. The diverse representation of fraud-fighters we see in membership is also evident in our social media groups. This week, we reached 10,000 members in our LinkedIn discussion group, an invaluable resource for members from all over the globe to connect and learn from one another.

We hope our global network of anti-fraud professionals will benefit you no matter where you live and work, and that our global reach can also be one of the tools you use on your next case.

Montana Hosts Internal Controls Enforcement Seminar with Ralph Summerford

GUEST BLOGGER

Scott Patterson
ACFE Media Relations Specialist

Montana state officials recognize the threat that fraud poses to any government organization, and the responsibility that rests upon managers to help prevent and detect it. During International Fraud Awareness Week, Montana’s Department of Administration, Risk Management & Tort Defense Division hosted a four-hour seminar on fraud prevention awareness for managers.

The seminar was presented by Ralph Q. Summerford, CFE, CPA/ABV, CFF, CIRA , a distinguished fraud expert and the ACFE’s Cressey Award winner for 2010. Summerford is president of Forensic/Strategic Solutions, PC, and an ACFE faculty member, where he is a regular speaker and instructor at programs across the United States and abroad.

The seminar addressed a key dilemma: While many organizations have basic internal controls to limit the risk of fraud, managers do not always understand or enforce them. The apparent "disconnect" between the presence of internal controls and management's shortcomings in enforcing them must be addressed through training and education.

More than 400 managers participated in Helena and remotely from other parts of Montana. The slides from the presentation are available for download here.

A portion of the seminar addressed corruption, and bidding and billing schemes. Summerford included a rundown of the major red flags for fraud in the bidding process:

• Complaints from employees or other vendors
• Bid prices drop when a new bidder submits a bid
• Qualified contractors refrain from bidding
• Geographical or rotational pattern to winning bidders
• Different bidders make same mathematical or spelling errors
• Bidders frequently change prices by comparable amounts at about same time
• Competitors regularly socialize, hold meetings, visit each others’ offices, travel together
• Statements acknowledging territories, such as, “we do not bid in ‘X’ county”
• Winning vendor always last to bid
• New vendors receive disproportionate number of winning bids

The presentation ends with an apt quote from Mark Twain: “I trust everybody - but I always want to cut the cards!” Once again, thank you to Summerford, the State of Montana and all of the Official Supporters of International Fraud Awareness Week.

Exam Day Anxiety Eased with New Review Course Options

GUEST BLOGGER

Bruce Dorris, J.D., CFE, CPA, CVA
ACFE Program Director

Many, if not all, of us have taken a test or two in our lifetime. We go to a class, take notes, mentally prepare, study and ultimately sit down to proclaim to the world what we know about a particular subject. For those who have taken, or are about to take, the CFE Exam, the process is no different.

One of the joys of instructing the CFE Exam Review Course live is having the opportunity to watch the incredible reaction of people when they learn they have passed the CFE Exam and earned their CFE credential. I routinely get a big hug, a high five and even the occasional fist bump from people who have just passed: rewards you can’t quantify.

I was in Orlando recently, and we began a new process of allowing attendees to take single parts of the exam in written format nightly. It was amazing to see how many people took advantage of the opportunity. Being able to piecemeal parts over the week reduced the anxiety of the exam tenfold. The stress load going into what was “exam day” on Thursday is gone. What was once an ecstatic feeling at the end of the week became a nightly occurrence for attendees.

The CFE Exam Review Course, new and improved, gives more than just CPE credit at the end – it opens your eyes to a whole new world of fraud examination.

To find an upcoming CFE Exam Review Course in your area, go here.

Have you attended a Review Course or recently taken the CFE Exam? What was your experience like? Leave us your comments below.

What’s on Your Horizon?

3 Ways to Network and Advance Your Anti-Fraud Career in 2011

For anti-fraud professionals, looking ahead is not only smart from a career perspective — it is essential for being successful at fighting fraud. From the con artist who commits fraud for a living to the office manager who rationalizes his/her latest theft, fraud perpetrators and their methods are always evolving. It is imperative to remain up-to-date with the latest techniques and the ever-changing M.O.s of fraudsters.

Here are 3 Ways to Network and Advance Your Anti-Fraud Career in 2011:

1. Attend a Global Fraud Conference

Whether you are in the United States, Europe or Canada, make it a priority to attend one of the ACFE’s annual fraud conferences. These conferences not only feature the latest training and education, but they are where the true networking between CFEs and other anti-fraud professionals take place; networking that might lead to a break in your next investigation.

2. Get Your CFE Credential

The ACFE has revamped the course that can help you earn your Certified Fraud Examiner (CFE) credential this year. For more than nine months, a team composed of ACFE staff from every department worked together to make the All-New 2011 CFE Exam Prep Course more user-friendly. Thanks to the comments and suggestions from past test takers, every improvement, tweak and upgrade was made with future test-takers in mind.

3. Earn CPE Credits with New and Updated Courses

The ACFE’s newest course, “Fraud Risk Management,” couldn't come at a better time. In this course, Sheila Keefe, CFE, CPA, and principal at BDR Advisors LLC, will help you develop a fraud risk management program, establish an anti-fraud culture and instill monitoring tools and controls.

We have also updated “Investigating on the Internet” to include ways to locate information on the Internet and leverage online resources through social media, public records and databases.

For a complete listing of anti-fraud resources, download the latest Anti-Fraud Resource Guide here.

The Fight Against Fraud Goes Global

AUTHOR'S POST

Mandy Moody, ACFE Social Media Specialist

Fraud conferences in Japan and South Africa lead the way for international anti-fraud professionals

This past fall, the fight against fraud crossed international boundaries when the ACFE South Africa Chapter and ACFE Japan hosted fraud conferences in their respective countries. As the third annual conference for the South Africa Chapter and the first-ever for ACFE Japan, both highlighted relevant fraud trends like the importance of risk management, fraud prevention on a global scale and the role of the Certified Fraud Examiner (CFE) in the auditing function.

“Both of these events highlighted the increasingly global nature of the anti-fraud profession,” Scott Grossfeld, CFE, CPA and ACFE CEO, said. “Their success and the interest that the fraud conferences sparked reinforce the ACFE as the premier provider of education, training and networking to fraud fighters worldwide.”

Africa’s Premier Anti-Fraud Event

The ACFE’s South Africa Chapter hosted its third annual South Africa Fraud Conference in Johannesburg, Sept. 13-15, 2010. The conference attracted attendees from not only South Africa, but from places all over Africa like Zimbabwe, Namibia, Kenya and Nigeria. With session titles such as, “Business Unusual: Dealing with Fraud and its Aftermath in a World Where the Rules Have Changed” and “Benchmarking Your Fraud Risk Management Strategies,” more than 500 attendees received the latest fraud education, participated in workshops and training, and networked with fraud professionals from different functions and locations.

“In the current economic climate the numbers we attracted were impressive, especially taking into consideration that there are a number of similar events available in the market,” Susan Swart, ACFE South Africa Chapter operations manager, said. “We are pleased that the event attracted a large number of non-members. It was the ideal opportunity to introduce the ACFE, and we had a high percentage of new members joining as a direct result.”

Read the complete article here. Also, view photos from the events on the ACFE's Facebook page.