Workshop On Forensic Accounting And Fraud Control

INTRODUCTION

Forensic, fraud and financial litigation support continue to remain among the hottest practice areas, with expected growth over the next several years. Accounting scandals such as Enron and WorldCom have created an increasing demand for professionals to become skilled and trained in forensic accounting and for business to protect themselves from the proliferation of fraud and white collar crime. In today’s world saving your organizations hard earned revenue and maximizing your profits by protecting against fraud losses is a must! This highly beneficial forensic training workshop provides individuals and organizations with the knowledge and skills in forensic accounting & fraud auditing and with the ability to detect and prevent fraud. It provides participants with the true forensic methods and applications on how to actually conduct examinations and investigations in this field.

COURSE OBJECTIVES

By the end of the course the participant should be able to:

• Clearly Define the meaning of fraud and forensic accounting
• Deploy effective fraud control methods and reduce the risks of fraud occurrence in the organization
• Utilize Various tools to expose fraudulent transactions
• Use statistical and forensic accounting tools to analyze data, test the data and find inconsistencies
• Utilize Microsoft Excel to identify suspicious information

DURATION

5 Days

WHO SHOULD ATTEND

This extensive short-term training course is a perfect suite for:

• Public accountants & internal auditors
• Fraud examiners & Forensic accountants
• Risk Management Professionals
• Regulatory Compliance Specialists
• Financial Security Officers
• Governmental accountants & attorneys
• Internal & External Audit Professionals
• Other accounting/auditing professionals and educators.

COURSE CONTENT

Introduction to Forensic Accounting & Fraud

• Introduction to fraud & Fraud triangle
• Background of Fraud Auditing & Forensic Accounting
• Fraud examination & Fraudster’s Profile
• Types of Fraud & The Fraud Cycle

Fraud schemes and controls

• Financial statements & Corruption schemes
• Assessing the Risk of Fraud & Its Factors
• Keys to Effective Fraud Investigation
• Fraud detection & response
• Revenue Recognition Detection Techniques

Forensic Analysis & Data Tests

• Importing, Analyzing, & Protecting data into Excel
• Reporting data in Word & PowerPoint
• Data profile, Periodic graph & Histogram
• Utilizing Excel to prepare data profile
• Utilizing Benford’s Law
• Data sets that could be used
• Effect of data size
• Basic digit test, First & last two digits tests, One digit a time
• Chi-Square, Mean absolute deviation & Logarithmic basis
• Second order test & Summation test
• Number duplication test in Excel

Using Excel for Detecting Fraud & Data Inconsistencies

• Largest growth test & Largest subsets test
• Relative size factor test, SSS test & SS Different test
• Subset number duplication
• Calculating correlations & Time-Series analysis

Fraud Prevention

• Creating Preventive Environment
• Enforcement of Ethics and Fraud Policies