Cooking the Books: What You Need to Know About Identification and Deterrence for Directors and Their Trusted Advisors

SummarySerious, sometimes fatal irregularities in results reporting are nothing new. The list of great organizations that have fallen because of their results reporting shenanigans in a vain attempt to camouflage the real weaknesses of the business is endless. This program helps Directors and their Advisors cut through the fog to identify and correct results manipulation schemes before they can damage or destroy the organization.

This program is part of AICBA’s series on Business Integrity and Crisis Response. It’s designed to provide Directors and Board Advisors with practical guidance on understanding accounting irregularities and other results manipulation schemes along with suggestions and how to manage these exposures.


Learning Objectives

In this program, Directors and their Trusted Advisors will learn how to:

  • Determine the type, magnitude and trajectory of potential financial accounting and other result
    reporting integrity risks
  • Develop and implement an effective crisis management plan – before it’s needed!
  • Deal with the broader business implications of a results reporting integrity breakdown

Program Content

Each AICBA program is tailored to the specific risks and training needs of Board Members and Board Advisors. Possible topics for this program include:

  • Understanding financial shenanigans and how to detect subtle and devious accounting tricks including: recording revenues prematurely, shifting expenses, boosting earnings by inappropriately capitalizing expenses and failing to record liabilities
  • The role of Board Members and Senior Management in ensuring financial misstatement accuracy
  • The roles of the key players in the results reporting process, including the Audit Committee of the Board, outside auditors, Internal Audit, the CFO, and accounting and operational staff
  • Dealing with personnel, customer, supplier, competitor, partner and banker issues
  • Dealing with legal, SEC, insurance and other regulatory issues
  • Brand management, public relations and crisis communications
  • Correcting known organizational weaknesses before they are exploited

Instructional Method, Program Length, and Continuing Education Credits

This program utilizes a combination of lecture, facilitated discussion and short exercises. The suggested length is one full day. Summary programs and Webinars are planned for one or two hours in length. Actual program content and length is tailored to the unique needs of each client, and is determined in planning conversations with the client. In accordance with the standards of the National Registry of CPE Sponsors CPE credits will be granted based on a 50-minute hour.

Program Level: Intermediate
Prerequisites: Working Knowledge of Accounting and Financial Reporting
Advance Preparation: None
Deliver Method: Group-Live or Internet-Based Webinar
Field of Study: Accounting (Financial Statements and Reports)
Recommended CPE Credits: 1 to 8 credits, depending on actual tailored program length


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