Course description
Testing for Fraud: How to Conduct Forensic Audits, Exams, and Evals
Participants will learn how to test for the occurrence of occupational fraud, conduct forensic audits, examinations and evaluations by using a systematic, logical and comprehensive approach that can be applied to a wide variety of investigations, including: code of conduct complaints, fraud evaluations and allegations, health, safety and environment, employee malfeasance, asset misappropriation, human resource grievances, management practices and a variety of other complaint types.
Participants will learn how to prepare an audit program and investigation work plans by applying critical thinking concepts when developing hypotheses and analyzing assertions. Participants will learn how to gather relevant evidence by utilizing a lecture/case study teaching format that introduces topics and applies them to illustrative cases. Participants will learn how to prepare an investigation work plan that identifies key stages involved in conducting investigations, including: planning, fieldwork, evidence collection and analysis, interviews and interrogations, and reporting. Participants will leave the seminar with a sound understanding on how to organize and conduct investigations using a proven and reliable framework to support and document conclusions reached.
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Upcoming start dates
Who should attend?
Financial, Operational, IT, and External Auditors; Audit Managers; Corporate Attorneys; Business Managers; Quality Assurance, Risk and Compliance Managers; and Information Security Professionals.
Prerequisites
- Fundamentals of Internal Auditing – OAG101
- Fraud Audit School – OAF201
- Equivalent Experience
Training content
You will learn how to implement and develop audit procedures that will increase the likelihood of discovering fraud.
You Will Learn:
Fundamentals of Fraud from a Corporate Auditor’s Perspective
- how fraud is defined by fraud examiners
- what constitutes a forensic investigation
- origins of complaints
- importance of searching for fraud and investigating allegations
- how to analyze allegations of fraud
- differences between occupational fraud and organizational fraud
- how fraud is typically detected
- the impact of fraud on the enterprise
- how organizations track fraud and why
- key findings from ACFE 2020 Report to the Nations
Key Terms and Definitions Auditors Should Know
Fraud Audit Standards and Guidelines
- professional audit standards relating to fraud adopted by associations (AICPA, ACFE, IPPF)
- how traditional audits differ from auditing for fraud
- how auditing for fraud differs from conducting a fraud investigation
- how to evaluate fraud assertions
- overview of COSO’s Fraud Risk Management Guidelines
- the internal auditor’s role in an organization’s anti-fraud program
Planning for the Fraud Examination/Investigation
- deciding which approach to use: stand-alone fraud audit or build in fraud detection steps
- identifying the business fraud risk universe and assessing fraud risk propositions
- how to analyze SOX testing procedures
- critical thinking, theory, and data
- how to develop arguments when reaching conclusions
- how to apply Toulmin’s six categories to when evaluating arguments
- the purpose of data analytics to scope the fraud examination
- how Schneier’s attack trees are useful in the planning phase of the fraud audit
- illustrative examples and case exercises
Occupational Fraud and Detection
- learn what constitutes common fraud schemes and scenarios found in financial statement frauds, and methods used for detection
- what constitutes common fraud schemes and scenarios found in asset misappropriation frauds, and methods used for detection
- what constitutes common fraud schemes and scenarios found in bribery and corruption frauds, and methods used for detection, including:
- what constitutes common fraud schemes and scenarios found in theft of data and intellectual property frauds, and methods used for detection
- illustrative examples and case exercises
Fieldwork: Conducting the Fraud Audit/Fraud Investigation
- illustrative examples and case exercises
- Wicklander and Zulawski Technique
- PEACE Framework
- Reid Technique
- interrogation techniques
- how to conduct a cognitive interview
- how to maintain attorney-client privilege communication- interviewing techniques
- techniques used to gather evidential matter
- how to develop and integrate a fraud hypothesis into the examination
- incorporating an investigation work plan into your investigation
- how to recognize investigator biases
- how to conduct a forensic investigation
- things to consider when conducting the audit remotely
- how to write a fraud audit program
The Fraudster’s Profile
- why the fraud triangle remains relevant
- characteristics and behavioral traits of fraudsters
- illustrative examples and case exercises
Reporting
- how to organize the fraud report
- general tips used if called to testify
- illustrative examples and case exercise
Course delivery details
Bring this course to your organization at your convenience. ACI Learning can deliver this instructor-led course for your team at a chosen location or virtually. Alternatively, choose the topic(s) you need and ACI will craft a training solution to keep your team future-proof.
Certification / Credits
NASBA Certified CPE: 24 Credits Auditing
Internal Audit Certificate, Fraud Audit and Investigation Certificate
What You'll Learn
You will learn how to implement and develop audit procedures that will increase the likelihood of discovering fraud.
ACI Learning
At ACI Learning, we train leaders in Cybersecurity, Audit, and Information Technology. Whether you're starting your IT career, mastering your profession, or developing your team, we're with you every step of the way. We believe that training is not a...