Forensic auditing provides an investigation methodology and accounting analysis that is suitable to the court which will form the basis for discussion, debate and ultimately dispute resolution. This course concentrates on practical advice for internal auditors in the fight against fraud, with focus sessions on deterrence, data mining and interviewing in a stressed environment. It provides an incisive analysis of how fraud occurs within an organisation and explains the latest techniques for fighting it.
»»Detection of white collar crimes within an organization
»»Skills for Forensic Investigations
»»Successful prosecution of economic crimes, in particular fraud
»»The integration of accounting, auditing and investigative skills.
»»Carry out good interviews
»»Reporting your findings
»»Detection of risk and red flags+
»»audit committee members, and those who have personal responsibility for the proper reporting of financial results.
Introduction: Presentation of the course and the objectives
Introduction to Fraud Auditing and Forensic Accounting
»» Definition of ‘forensic’
»» Forensic Accounting v Auditing
»» Understanding the Business Environment
»» Importance of Organisational Structure
»» Review of Internal Controls
»» Fraud Detection: Responsibility
»»When, How, by Whom fraud was commited?
»» What is Fraud
»» Fraud Triangle – Fraud Diamond
»» Profile of Fraudsters
»» Fraud Schemes: Financial Statements Schemes
»» Asset Misappropriation Schemes
»» Red Flags
Case studies / Work group
Fraud Risk Assessment
»» Approach to risk management: Definitions
»» Risk and culture
»» The COSO Framework for Enterprise Risk Management
»» The Sarbanes-Oxley Act (SOX)
»» Risk identification
»» Management of risk
»» Definitions and outline
»» Determining the level of assurance required
»» Audit risk analysis model
»» Establishing the assignment plan
»» Building a picture of the risks
»» Methods of testing
Case study: an audit assessment using the model
»» Methods and techniques to identify Fraud
»» Financial and Non-Financial data
»» Data analysis
»» Benford’s Law
»» Time-Series Analysis
»» Ratio Analysis
»» Horizontal and Vertical Analysis
»» Net Worth and Expenditure Method
Case studies: application of data analysis methods
»» Characteristics of a Good Interview
»» Question Typology
»» Elements of Conversations
»» I nhibitors of Communication
»» Facilitators of Communication
»» Mechanics of Interview
»» Group work: Interview practice
»» Objectives of reporting
»» Who is the report for?
»» What makes a good report?
»» Professional standards
»» How to link objectives, risk and audit observations: best practice
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