Internal Audit Training, IT Audit Training Courses, Information Security Training - CPE Interactive

Continuing Professional Education for Audit, Assurance, & Info Security

View Training Register Now

Course Description

Organizations of all kinds and sizes are increasingly threatened by fraud. Embezzlement, kickbacks, check fraud, financial statement fraud and vendor billing schemes are just a few of the countless economic crimes committed by employees and outsiders.

This training session will provide auditors and other financial professionals with a strong foundation of practical knowledge about how common frauds are committed using a combination of lecture, exercise and group breakout sessions.

We will discuss:

  • Who commits fraud
  • Why employees commit fraud
  • How to detect the red flags of common schemes
  • Essential fraud detection tools and techniques
  • Software tools for auditing for fraud
  • Best practices for developing and implementing anti-fraud controls

Learning Objectives

  • Understand the fraud problem
  • Identify the red flags of fraud
  • How to detect and investigate fraud
  • Building an anti-fraud control environment

Course Outline

The Fraud Problem

  • Introduction
    • Statistical overview of the fraud problem
    • External versus Internal Fraud
    • Who commits fraud Why employees commit fraud (The Fraud Triangle)
    • Lessons from fraudsters
  • Common Types of External and Internal Fraud Today
    • External Fraud
    • Internal Fraud

Red Flags of Fraud

  • Conducting a Fraud Risk Assessment and Recognizing the Red Flags of Internal Fraud
    • The Fraud Risk Mitigation Cycle
    • Implementing an organization-wide system for detecting, preventing and investigating fraud

Fraud Detection and Investigation

  • Fraud Detection
    • How Frauds Are Most Often Detected
    • Additional General Detection Methods
    • Data Mining/Analytics for fraud detection
    • Examples of Fraud Audit Techniques at Work
  • Basic Fraud Investigation Techniques
    • Forensic Accounting Investigation
    • Forensic accounting/auditing techniques: Data Mining and Analytics
    • Gathering and preserving evidence
    • Securing a crime scene
    • Interviewing/interrogating suspects
    • Documenting findings

Anti-Fraud Controls

  • Internal Controls and Other Fraud Prevention Measures:
    • Who Should Manage Anti Fraud Activities
    • Internal Controls: Do’s and Don’t’s
    • Best Practices in Anti-Fraud Controls
    • General controls: Segregation of duties, delegation of authority, background investigation
    • Specific operations-level controls major fraud categories

Additional Information

Who Should Attend
  • Internal and external audit professionals
  • Internal control professionals
  • Finance and accounting management
  • Compliance professionals
  • Loss prevention and risk specialists
  • Security professionals
  • Fraud examiners
  • Procurement and payables specialists
Learning Level

Intermediate

Delivery

Group-Live & Group Internet-Based

Field

Auditing

Advanced Preparation

None

Recommended Prerequisites

Basic accounting concepts.

Session Duration

Online: Four 3-hour sessions

On Site: 2 days

CPE Credits: 16