CPE Credits: 14 (2 day), 21 (3 day)
Description:
The discipline of forensic auditing has evolved from the unification and integration of information technology (IT), along with accounting, auditing and police science investigative techniques. The results of a forensic audit or investigation provides an analysis, grounded in accounting and IT fact, which is admissible and agreeable to a court of law, which eventually forms the basis for discussion, debate, dispute resolution, and potentially criminal or civil prosecution.
The forensic investigator has many tools with which to unravel the truth, using financial intelligence combined with IT skills, cyber forensic techniques and generally accepted investigative practices; the investigator can reconstruct financial transactions and operations to assist in mitigating or uncovering the unauthorized outward flow of organizational assets (e.g., intellectual property, financial resources, data, etc.). This workshop will introduce the attendee to the field of forensic auditing, accounting and associated disciplines, which use in part, accounting techniques and forensic tools to identify and combat organizational fraud.
In an effort to sustain a green workshop, participants will be provided with a URL from which they will be able to download a series of topic related articles and value-added handouts relevant to the workshop.
Three-day Workshop (use of participant case requires a longer presentation time to effectively address all session topics and to obtain full benefit of case exercise)
Two-day Workshop with NO case exercise
Audience:
This workshop is intended for internal and external audit professionals, security investigators, Controllers, CFOs, financial accounting, risk management professionals, compliance officers, legal and credit control personnel, regulatory affairs and corporate governance professionals, anyone interested in obtaining a better understanding of and general introduction to auditing and mitigating fraud with workplace environments.
Prerequisites:
Objectives:
AFTER COMPLETING THIS WORKSHOP, YOU WILL BE ABLE TO…
1. Describe forensic auditing techniques to mitigate fraud by identifying and changing a situation which can lead to fraud
2. Identify and to help mitigate the potential for white collar crime within the organization
3. Facilitate the prevention, detection, investigation and successful prosecution of economic crime, in particular cases involving fraud
4. Minimize the potential for fraud and theft to translate action into substantial savings of both time and money
5. Identify the critical steps of an internal fraud investigation leading to a structured forensic audit
6. Apply accounting skills to track and collect forensic evidence for investigation and the prosecution of criminal acts.
Course Outline:
Introduction
What is forensic accounting? Forensic auditing?
What is the scientific method’s role in forensic auditing?
Growing importance of forensic auditing in organizations
Forensic accounting and auditing dual roles in the investigation and prevention of fraud
Fraud as a risk exposure that adversely affects an organization
What is a fraud audit?
Use of fraud auditing and internal controls to detect and prevent fraud
Fraud auditing versus financial auditing
Reasons for growth in fraud auditing
Effects of SAS 99 on fraud auditing
Trends in fraud auditing
Signs of fraud
The fraud triangle
Two types of engagements
Common types of fraud
Common steps in fraud auditing
Interviewing and the forensic audit process
Methods Used to Detect Fraud
· Journal Entry Testing
· Indirect Methods of Reconstructing Income
· Net Worth Method of Proving Income
· Bank Deposits Method of Proving Income
· Expenditures Method of Proving Income
· Percentage Markup Method of Proving Income
· Data Analysis
Fraud Assessment Tools
· Benford Analysis
· Link Analysis
· Continuous Monitoring
Expert opinions
Alternative Dispute Resolution
The AICPA’s anti-fraud initiatives
The growth of fraud education
Conclusion