Fraud Audit School

Seminar: ID# 1218505
Fraud Audit School
Metropolitan Area:
New York
MicroTek Computer Lab NY
180 Maiden Lane
Suite 102
New York, NY 10038
Contact Phone:
10/15/2018 - 10/18/2018 (Days 1-3: 8:30am - 5:00pm, Day 4: 8:30am - 3:00pm)
About This Course:
When it comes to fraud, crime does pay…The Association of Certified Fraud Examiners reports that fraud and abuse cost typical US organizations 7% of revenues. This amounts to $994 billion dollars annually when applied to the US gross domestic product.

Add to this astronomical figure the requirements of Sarbanes-Oxley, HIPAA, GLBA, and PCAOB, and it is clear why finding and preventing fraud is a top priority in today's organizations.

About This Course

Fraud Audit School is designed to provide you with a thorough understanding of the types of fraud taking place in today's business environment, and the techniques you need to build effective fraud prevention and detection measures into your audit plan.

In four intensive days you will learn fraud schemes typically found in organizations, the red flags of fraud, how to minimize fraud, the impact of internal controls on fraud, and the steps to investigating fraud should it strike your organization. You will learn a proven fraud audit methodology, and cover such high-risk areas as misappropriation of assets, financial statement fraud, and management fraud.

You will focus on fraud detection strategies, the composition of a fraud scheme, fraud risk assessment, and the legal considerations of fraud.

Learning Objectives

  • Fraud Auditing Defined
  • Update On Professional Standards
  • The Realities Of Fraud
  • Auditing For Fraud
  • Fraud Risk Assessment At The Enterprise Level
  • Fraud Risk Assessment At The Audit Level
  • Financial Statements
  • Misappropriation Of Assets
  • Conducting The Fraud Investigation
  • The Legal Implications Of Fraud Auditing
  • Fraud Prevention Programs

What You Will Learn:

1. Understanding How Fraud Occurs
  • Integrating The Fraud Theory Into Your Audit
  • Incorporating The Fraud Audit Matrix
  • Comparing Approaches: Internal Audit, Fraud Audit, And Forensic Investigation
  • The Fraud Triangle: Opportunity, Pressures, And Rationalization
  • Identifying Who Commits Fraud
  • Fraud In Plain English
  • Identifying What Actually Constitutes Fraud In Your Organization
  • How Perpetrators Conceal Fraud
  • The Premise Of Concealment And Concealment Strategies
  • Conversion: How Perpetrators Benefit From The Fraud Scheme
  • Identifying Types Of Conversion And Understanding Different Audit And
  • Industry Strategies
2. Building Fraud Scenarios
  • Understanding The Fraud Risk Structure
  • The Inherent Fraud Schemes In Every Business System
  • How To Build Fraud Scenarios For Individual Audit Programs
3. Preparing a Business Process Fraud Risk Assessment for Audit Programs
  • Using The Drill-Down Approach To Identify Scheme Variations For Each Business System
  • How To Link Fraud Risks For Each Business Process To Your Control Structure
  • Establishing A Score For Mitigation Of Fraud Risk By Internal Controls
  • How To Link The Control Fraud Scores To The Audit Response
4. Incorporating Fraud Risk Assessment into the Audit Program
  • Fraud Scheme Approach
  • The Fraud Opportunity Approach
  • Techniques To Assess The Risk Of Fraud
  • Linking Internal Controls To Fraud Risk
  • Linking The Audit Response To Fraud Risks
  • Individual And Aggregate Fraud Risks
  • Business Risk Factors
5. Integrating Fraud Testing into Your Audit Program
  • Using Red Flags To Identify Fraud
  • How To Build And Analyze Red Flags For Specific Fraud Schemes
  • Fraud Data Analysis: Approaches And Strategies
  • How To Build The Fraud Data Profile: The Step Approach For Data Mining
  • Identifying The Response To Fraud Based On The Fraud Risk Assessment: Control Vs. Fraud Approach
  • Incorporating Fraud Steps Into The Audit Program
  • How To Design Fraud Audit Procedures To Pierce The Concealment Strategy
  • Linking The Audit Program To The Risk Assessment
  • Sampling Designed To Locate Fraud
  • Testing And Evaluating The Design Of Your Anti-Fraud Controls
  • Identifying Suspicious Transactions Through Fraud Audit Procedures
  • Protocol For Resolving A Suspicious Transaction
  • Writing Fraud Audit Findings And The Legal Considerations Involved
6. Interviewing for Fraud in the Audit Process
  • Using The Fraud Scenario Approach
  • Understanding The Five Question Types
  • Preparation For The Interview Process
  • Managing The Reluctant Witness
  • Connecting The Fraud Scenario To The Illegal Act
7. Internal Controls and Fraud
  • How Controls Are Related To The Fraud Theory
  • Fraud Control: Prevention, Detection, Deterrence, Prosecution, And Approval
  • Fraud Prevention Programs And Policies
  • How To Design Controls To Minimize Fraud
  • Managing Fraud Costs
  • Developing Fraud Awareness Programs
8. Misappropriation of Assets
  • Disbursement Fraud Schemes
  • Purchasing Fraud Schemes
  • Fraud In Payroll And Human Resource Functions
  • Contract Fraud Schemes
  • Fraud In Revenue And Cash Receipts Functions
  • Theft Of Inventory, Equipment, And Assets
  • Travel Expense Fraud Schemes
9. Financial Statement Fraud
  • Fraud In The Revenue Cycle
  • Inventory Fraud Schemes
  • Expenditure Fraud Schemes
  • Journal Entry Fraud Schemes
  • Management Fraud: Incentive, Opportunity And Rationalization
10. Professional Standards
  • Sarbanes-Oxley And PCAOB
  • SAS No. 99
  • Institute Of Internal Auditors
  • Yellow Book
  • Current Surveys And Reports On Fraud
11. Fraud Investigation
  • Identifying Resources To Conduct An Investigation
  • Focusing On Fraud Theory And Development
  • Using Private Investigators
  • Types Of Interviews And The Appropriate Approach
  • Understanding The Interview Methodology
  • Legal Considerations When Conducting An Interview
  • Appropriate Collection And Analysis Of Documentation
  • Forensic Examination Of Documentation
  • Individual Rights During Investigations
  • Understanding The Civil Court Process
  • How The Legal System Works
  • Attorney Work Product
  • Types Of Evidence
  • Web Sites And Fraud Information
12. Interviewing: Admission-Seeking and Legal Elements
  • Initial Steps To Securing The Admission
    • How To Confront The Suspect
    • Use Of Admission Seeking Questions
    • Managing The Denial Process
    • Using Physical Evidence
  • Obtaining The Oral Confession
  • What Are The Legal Considerations
    • Employees Obligation To Cooperate
    • Combating Legal Objections
Prerequisites: None
Learning Level: Basic

Who Should Attend?
Financial, Operational, IT, Internal and External Auditors; Audit Managers; Corporate Attorneys; Information Security professionals; Risk Management Personnel and Line Managers who need to gain an understanding of the growing risks of fraud.

Dates & Times
Classes start on the date(s) posted herein, and run from 8:30am to 5pm daily, except for the last day of class, which ends at 3:30pm.
Fraud Audit School
Metropolitan Area:
New York
MicroTek Computer Lab NY
180 Maiden Lane
Suite 102
New York, NY 10038
Contact Phone:
10/15/2018 - 10/18/2018 (Days 1-3: 8:30am - 5:00pm, Day 4: 8:30am - 3:00pm)
Qty: 3
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