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