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

Continuing Professional Education for Audit, Assurance, & Info Security

Course Description

This course is designed to provide an overview of financial statement and accounting fraud including how it is committed and the motivation behind it. The course will provide participants with the fraud knowledge and forensic accounting techniques necessary to identify accounting and financial statement fraud within their organizations. Real-life comprehensive fraud case studies and the forensic accounting and fraud examination techniques used to identify and quantify the frauds will be used throughout the course to further the learning process. Participants will work through fraud case study examples and exercises.

This interactive course will be taught through a combination of lecture, group exercises and class participation.

Learning Objectives

  • Recognize the most common financial statement fraud schemes 
  • Identify the red flags of financial statement fraud 
  • Detect fraud using forensic accounting and audit procedures 
  • Understand the fraud implications of emerging issues in financial reporting
  • Understanding fraud fundamentals used to identify fraud within your organization.
  • Knowing and understanding the fraud tree schemes and identifying how they may manifest as fraud scenarios in your organization.
    Understanding the characteristics of fraudsters to identify potential high risk departments or individuals.

Course Outline

Fraud Basics

  • The Fraud Triangle
  • ACFE 2014 Report to the Nation – Fraud & Corruption Statistics
  • Fraudsters – characteristics and behaviors

The Fraud Tree Schemes and Scenarios

  • Analysis and auditing techniques for identifying Red Flags and potential fraud
  • Corruption
  • Financial Statement Fraud
    • Improper Revenue Recognition
    • Concealed Liabilities and Expenses
  • Asset Misappropriation
  • Fraudulent Disbursements

Techniques for Financial Statement Analysis

  • Comparative Techniques
  • Ratios
  • Financial Relationships
  • Cash Flow

Understanding Trends and Patterns in Data

  • How to spot them
  • Understanding what the data is telling you
  • Red Flags versus changes in the business

Analytics and Forensic Accounting Techniques

  • Regression Analysis
  • Ratios
  • Benford’s Law
  • Benish M-Score Indicies
  • Reasonableness Testing
  • Damerau-Levenshtein - Fuzzy Logic

Example Data Analytics Techniques for:

  • Accounts Payable
  • Payroll
  • Inventory & Fixed Assets
  • Financial Statements

Investigations – Basics for conducting a fraud investigation

  • Planning and conducting an investigation
  • Analyzing Documents
  • Covert investigations
  • Sources of Information
  • Forensics
  • Useful resources for investigations

Additional Information

Who Should Attend
  • Internal audit staff and management
  • Financial auditors
  • Internal control professionals
  • Accounting staff
Learning Level






Advanced Preparation


Recommended Prerequisites

Working knowledge of accounting and financial statements.

Session Duration

Online: N/A

On Site: 2 days

CPE Credits: 16