• CPE: 1.5

    Level: Overview

    Recommended Prerequisite:None

    Field of Study: Specialized Knowledge

    Fraud happens in owner-contractor and contractor-subcontractor relationships, and it's committed by employees of any type or size of contracting firm. Last year’s Kroll Annual Global Fraud and Risk Report showed that 70% of construction companies experienced at least one incidence of fraud. There are almost unlimited ways that you can be defrauded in the construction industry, but there are many ways that you can protect yourself from those who want to steal from you and hurt your business.


    This session will discuss how to identify fraud indicators in construction costs, detect material costs that seem inflated compared to market value and review best practices for project controls.

    You Will Learn How To:

    • Identify fraud indicators in construction projects
    • Identify material costs that seem inflated compared to their market value
    • Ascertain best practices on project controls, as well as “trust through verification”

    mfucilli headshot
    Michael Fucilli, CFE, CIA, CRMA

    Auditor General, Metropolitan Transportation Authority

    Michael J. Fucilli, CFE, CIA, CRMA, is the Chief Audit Executive for the largest public-sector transit authority in North America, with operating revenues in excess of $15 billion. He has 38 years of internal auditing experience that includes financial services, public sector, governance, risk and compliance, technology and SOX reporting. Fucilli has an audit staff of 85 professionals and is president of the IIAs’ Internal Audit Foundation and the IIA vice chairman. He has also held previous positions in banking and defense contracting. He is a frequent speaker on governance, risk and fraud.

  • mfucilli headshot
    Michael Fucilli, CFE, CIA, CRMA

    Auditor General, Metropolitan Transportation Authority

    Michael J. Fucilli, CFE, CIA, CRMA, is the Chief Audit Executive for the largest public-sector transit authority in North America, with operating revenues in excess of $15 billion. He has 38 years of internal auditing experience that includes financial services, public sector, governance, risk and compliance, technology and SOX reporting. Fucilli has an audit staff of 85 professionals and is president of the IIAs’ Internal Audit Foundation and the IIA vice chairman. He has also held previous positions in banking and defense contracting. He is a frequent speaker on governance, risk and fraud.

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