Dates and location
Hours
Dates and location
Hours
Description
Learn anywhere, anytime with audio learning from your trusted source for Professional Development.
Get up to speed in an hour on critical topics for CPAs such as AI, Ethics, Finance, Cybersecurity, Audit, Tax, Sustainability and more.
- Convenient 60-minute audio courses in our new app.
- Flexible format allows you to listen and learn on the go at your own pace.
- Relevant and trending topics affecting CPAs to help you stay at the forefront of the profession.
In this audio learning session, we will focus on Ontario company Strike Holdings Inc.’s Ponzi scheme that ran from 2012 to 2019. Although the scheme was ultimately uncovered, with jail time and a restitution payment of $22.7 million ordered in June, 2024, Ponzi schemes continue to occur with enough frequency that it’s important to understand how to detect the red flags and help ensure neither you nor your clients get caught up in or participate in these schemes.
The topic of Ponzi schemes is important as CPAs often serve as trusted advisors and may be privy to financial reporting, client account statements, or transactional details that could reveal fraud. Understanding how forged documents and diversion tactics are employed within these schemes helps CPAs fulfill their professional responsibilities. Early detection of a potential scheme can protect their clients’ investor interests, preserve our professional reputation, and reduce legal liability.
Lessons Covered:
- Strike Holdings Unveiled: A Real Ontario Example
- Parallels in Fraud: Other Ponzi Schemes of Note
- Red Flags in the Financials: What to Watch Out For
- Monitoring Vigilance: CPA Red Flag Checking Tools
- Role of the Advisor: How CPAs Can Protect Investors
- Handling the Fallout: When Trust is Breached
- The Ethical Imperative: A Key Principles Refresher
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Key Takeaways
Upon completion of this course, learners will:
- Learn how to identify suspicious patterns in investment returns, documentation, and fund flows that commonly indicate a Ponzi scheme.
- Understand how the principles of integrity, objectivity, and professional behavior guide your actions when potential fraud is detected.
- Know the steps to document concerns, escalate appropriately to regulators, and educate clients to prevent them from falling victim to similar schemes.
Who Will Benefit
This session is designed for:
- CPAs who advise clients, such as those in public practice and wealth management.
- CPAs in industry who may be responsible for due diligence on potential investments, partnerships, or acquisitions, and for those overseeing treasury, investment portfolios, or pension funds, where they must validate the legitimacy of investment managers.
- Newer CPAs who need a deeper understanding of how ethics, skepticism, and regulatory obligations apply in real-world fraud scenarios.
Disclaimer
The views expressed in the course are non-authoritative and have not been formally endorsed by CPA Ontario and do not reflect the views of CPA Ontario. The information included in the course if for general information purposes only.
CPA Ontario, the presenters and the authors do not accept any responsibility or liability that might occur directly or indirectly as a consequence of the use or application of or reliance on this material.
How to Access the Course
New mobile learning! Download Blackboard Learn from your app store (iOS or Android). Learn more.
To access the course on your computer please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Lisa Dorian, MSL, CPA,CA, CPA (IL), CIA, CRMSA is a business executive and board director with extensive experience in ethics, compliance, and risk as well as business process and strategy. She has worked with a variety of boards and leadership teams of organizations in both the private and public sector to help implement award winning enterprise risk management frameworks and compliance frameworks. She has authored many internal policies, including codes of conduct. As well as serving in the C-Suite in finance, risk, and internal audit departments, she has also conducted quality assessment reviews of internal audit departments in the public sector and for financial institutions.