Forensic Accounting and Auditing Course

This Forensic Auditing and Accounting course is to empower the investigator or the overseer with:

•         Fundamentals of accounting practices and financial statement analysis.
•         An overview of the forensic accounting legal environment
•         An understanding of the forensic accountant’s responsibility, forensic accounting and fraud examination
•         In-depth study of the procedures in fraud detection including:
•         Methodologies to identify and categorize fraudulent practices
•         Various approaches to the collection of evidence
•         Fraud investigation procedures
•         Reporting, and the recovery procedure following legal prosecution
•         Business Valuation Strategies
•         Knowledge to plan and strategize viable frameworks and procedures for fraud detection and prevention
•         The essential expertise and to become a more effective and efficient forensic auditing and accounting investigator/overseer.

 Introduction to Forensic Accounting and Fraud Examination

•         Fundamentals of accounting practices
•         The essentials of forensic examination
•         Responsibilities of accounting investigators and auditors
•         The forensic accounting legal environment

Understanding Corporate Fraud

•         Synopsis of white-collar crimes
•         Overview of effective fraud investigation
•         Types of corporate fraud
•         Psychology of the fraudster profile
•         The Fraud Triangle theory
•         Implications of corporate fraud to internal and external stakeholders

Examination of Financial Statements and Analytical Techniques

•         Scope and types of financial statement frauds
•         Analysis of financial statements and audit reports
•         Horizontal and vertical analysis
•         Financial ratio analysis
•         Anomaly detection to identify nonconformities

The Fraud Investigation and Engagement Processes

•         Techniques for recognizing the symptoms of fraudulent behaviour
•         Review of the investigation process and case initiation
•         Evidence collection techniques–
•         Gathering & Assessing Observational Evidence
•         Gathering & Assessing Financial Evidence
•         Gathering & Assessing Non-Financial Evidence

Data compilation and analysis

•         Importing & Analyzing data utilizing MS Office tools
•         Root cause analysis (RCA) of corporate fraud
•         Understanding the analysis of data based on Newcomb-Benford’s law
•         Overview of Data-driven Fraud Analysis Techniques
•         Evaluating the extent and scope of fraudulent practices

Reporting of Findings and Analysis

•         Auditor responsibility and reporting standards
•         Forensic audit report template
•         Risk assessment and reporting
•         Business Valuation and Damages reporting

Fraud Prevention

•         Examining the existing internal control environment
•         Understanding the COSO Model (“Internal Control-Integrated Framework”)

                         i.        Control Environment

                       ii.        Risk Assessment

                      iii.        Control Activities

                      iv.        Information & Communication

                        v.        Monitoring

•         In-depth review of COSO’s Fraud Risk Management Guide 2016.
•         Learning the ‘Evaluate – Identity – Deter – Respond’ cycle of managing corporate fraud

FOR WHOM:

Auditors, Accountants, Chief Financial Officers, Financial professionals, Directors, Risk managers, Board Members, Shareholders, investors, Legal professionals,

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.