On Demand Webinar
Webinar Details $219
- Webinar Length: 60 Minutes
- Guest Speaker: Christine Stolpe
- Topic: Payroll, Human Resources
- Credit: ATAPR 1.0, CPE 1.0, SHRM 1.0, HRCI 1.0, RCH 1.0
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The bad guys are trying to steal your information!
It seems there is another story on the news every day about large security breaches and the potential exposure of private, personal data. During this hour, attendees will learn what the fraudsters are looking for, how they are gaining access to it and which employee populations are most at risk. This course has the potential to prevent millions in future payroll fraud losses.
Your Benefits For Attending:
- Understanding how payroll fraud happens
- Payroll's responsibility regarding payroll fraud
- Identifying types of payroll fraud
- Preventing against payroll fraud
- Ability to educate others about payroll fraud
- Plan of action for payroll fraud policy review
- How to redefine “balance” as work or life circumstances change
- Introduction 00:01:58
- Agenda 00:03:35
- The Fraud Triangle 00:07:36
- Identifying Risk 00:12:18
- Payroll Process Flow Chart 00:20:41
- Determining Data, Review Processes, Reconciliations, And Funding 00:22:38
- Compliance 00:30:05
- Audit Preparedness 00:35:48
- Educating Others 00:39:17
- Create Competencies At Varying Levels 00:39:43
- Best Practices 00:46:37
- To Prevent Against Fraud 00:47:39
- Case Study #1 00:54:47
- Case Notes I 00:55:55
- Case Study #2 00:56:47
- Case Notes II 00:57:06
- Article References 00:57:42
- Payroll Fraud Vulnerability 00:59:34
- Thank You! 01:00:37
- Presentation Closing 01:01:00
- Audit 00:18:22, 00:18:46, 00:18:15, 00:31:43, 00:32:02, 00:32:25, 00:35:51, 00:44:12
- External Audits 00:19:51, 00:35:03, 00:49:56
- Internal Audits 00:19:50, 00:34:25, 00:34:31, 00:34:54, 00:49:57
- Payroll Process Flow Chart 00:20:54, 00:20:56, 00:21:11, 00:21:18, 00:22:18, 00:22:44, 00:36:31
- Reconciliation 00:18:07, 00:18:12, 00:18:34, 00:19:06, 00:19:19, 00:20:17, 00:28:10
- SOX -Sarbanes Oxley Act 00:32:28, 00:33:56, 00:34:00
- The Fraud Triangle 00:07:36, 00:07:42
- Vendor 00:26:08, 00:55:38
- W-4 00:25:31
Audit: A formal examination of an organization's or individual's accounts or financial situation
External Audit: An external audit is an examination that is conducted by an independent accountant. This type of audit is most commonly intended to result in a certification of the financial statements of an entity. This certification is required by certain investors and lenders, and for all publicly-held businesses. The objectives of an external audit are to determine:The accuracy and completeness of the client's accounting records; whether the client's accounting records have been prepared in accordance with the applicable accounting framework; and whether the client's financial statements present fairly its results and financial position.
Form W-4: Form W-4 (otherwise known as the "Employee's Withholding Allowance Certificate") is an Internal Revenue Service (IRS) tax form completed by an employee in the United States to indicate his or her tax situation (exemptions, status, etc.) to the employer.
Internal Audits: Internal audits evaluate a company's internal controls, including its corporate governance and accounting processes. These audits ensure compliance with laws and regulations and help to maintain accurate and timely financial reporting and data collection.
Payroll Process Flow Chart: A payroll flowchart visualizes the process of running payroll, withholding deductions, and distributing paychecks to employees. In short, it breaks down the process bit by bit.
Reconciliation: Payroll reconciliation is when you compare your payroll register with the amount you're planning to pay out to your employees to confirm those numbers match. The simplest way to think about it is double-checking your math to ensure that you pay your employees correctly. Payroll reconciliation should happen frequently.
SOX -Sarbanes Oxley Act: The Sarbanes-Oxley Act of 2002 is a federal law that established sweeping auditing and financial regulations for public companies. Lawmakers created the legislation to help protect shareholders, employees, and the public from accounting errors and fraudulent financial practices.
The Fraud Triangle: The Fraud Triangle outlines three elements that are typically present when an individual commits occupational fraud – Pressure, Opportunity, and Rationalization. All of these elements are typically present, so effectively addressing any one of them will help minimize the fraud risk. “Pressure” refers to the motivation of the employee. “Opportunity” to commit fraud is a risk factor that is heightened where internal controls are weak or non-existent. “Rationalization” is the final factor and it is how the perpetrator justifies his or her fraud.
Vendor: A vendor is a person or business that supplies goods or services to a company. Another term for the vendor is the supplier. In many situations, a company presents the vendor with a purchase order stating the goods or services needed, the price, delivery date, and other terms.
