Forensic Accounting for Fraud
Fraud is a serious problem organizations need to prepare for and looking for.
Any Internal Audit function needs support management's efforts to establish a culture that embraces ethics, honesty, and integrity. Internal Auditors assist management with the evaluation of internal controls used to detect or mitigate fraud, evaluate the organization's assessment of fraud risk, and are involved in any fraud investigations.
What is forensic accounting and how does the Internal Audit function approach its detection and investigation?
This CPE Event provides an overview of the concepts along with the techniques and processes used by forensic accounting to identify whether fraud has occurred.
This timely, CPE training seminar is designed for the accountant or internal auditor who has to be aware of how to approach using Forensic Accounting in their audit function.
Follow the below links for further detail information:
. Seminar Highlights
. Learning Objectives
. Key Issues on the Agenda
. Professional Organizations that focus on Forensic Accounting Issues
. Organizations that concern themselves with Fraud Detection and Prevention
The retail cost of the virtual CPE seminar is $240.00 for the first attendee from a single organization. Discounts are available for more than one attendee from each organization: (2) $450.00 (3) $650.00 (4) $810.00 (5) $960.00.
To reserve your space, click on the "SIGN-UP NOW!" link in the right margin, complete the registration form, and use the corresponding "Submit Registration Form and Move to Payment Options Page" button for filing the registration and moving to the payment page.
Each attendee will receive 4 Auditing Hours CPE (YB). A certificate of completion will be provided.
Virtual Forensic Accounting for Fraud Events
Future In-Person Forensic Accounting for Fraud Events
In response to the Coronavirus Pandemic, we will start providing all our events using a distant learning approach.
In some cities we have local instructors and are providing limited events on a request basis. If you have two or three professionals who would like in person instruction please contact us.
Day - Date
Refer to our Seminar Cities Index for a list of our seminar locations. The individual city
pages provide a listing of topics being presented. Our Seminar Cities by Week provides a
guide to the locations during a calendar week.
top of page
- Internal Control Principles and Fraud Management
- "Best Practice" Anti-Fraud Controls
- Using Software Tools to examine "Big Data"
- Using Software Tools to examine "Metadata"
top of page
- Forensic Accounting Skill Set
- Understanding the people that commit fraud
- Overview of fraud classification
- Financial Statement Fraud Analysis
- Attendees will understand how forensic accounting is part of the internal auditor function.
top of page
- Attendees will learn how to identify fraud risks
- Attendees will review best practices in fraud prevention and detection programs
- Attendees will what software tools are available for the forensic project.
Key Issues on the Agenda
top of page
Section 1 - Internal Control Frameworks for Fighting Fraud
- What is Corporate Fraud?
- What is Forensic Accounting?
- Forensic Accounting Skill Set
- Forensic examination services
- COSO "Fraud Risk Management" Model
- External Auditor's Responsibilities
Section 2 - The Fraud Perpetrators
- Things that do not prevent fraud.
- "Violators of Trust"
- "The Fraud Triangle"
- Who are the "Fraud Perpetrators"?
- Where is the "Fraud"?
- Behavioral Red Flags
- Fraud Discovery
Section 3 - Fraud Classification
- Asset Misappropriation
- Financial Statement Fraud
Section 4 - Financial Statement Fraud Schemes
- Top Reasons to cook the Books!
- Methods for testing for fraud
- Examples of how financial fraud is committed
- Forensic tests of financial transactions
Section 5 - Preventing and Detecting Financial Statement Fraud
- Forensic Techniques
- Forensics: Financial Ratio Analysis
- Forensics: "Monday Tracing"
- Benford's Law of Numbers
- How to think like Mark Nigrini, PhD, MBA
- Computer Forensics
Section 6 - "Best Practice" Anti-Fraud Controls
- How are frauds concealed?
- Having a process to report fraud and other activities
- Fraud Policy
- Corporate Code of Conduct
- Segregate Incompatible Duties
- Internal Audits
- Physical Security
- Human Resources Policies
- Vendor Management
- "Tone at the Top"
- Information Security
- Controls over Money Laundering (AML)
Section 7 - Software Tools and Techniques for Fighting Fraud
- Fraud Examination Software
- Forensic, Data Extraction and Analysis Tools
- Case Management Software
Section 8 - Creating a Fraud Risk Assessment
- The Heat Map - 80% - 15% - 5% Rule
- Where in the organization's functions will the fraud occur?
Section 9 - Forensic Examinations
- Electronic Data Recovery (EDR) Model
- Metadata Extraction
- Metadata Extraction Tools for PDF files
- Metadata Extraction Tools for Image files
- Metadata Extraction Tools for general files
- History and Custody of Documents and Files
- Document Examination
- Social Media Research
- T&E Forensic Analysis Example
Section 10 - Summary and Wrap-up
Professional Organizations that focus on Forensic Accounting Issues
top of page
Association of Certified Fraud Examiners The ACFE is the world's largest anti-fraud organization. Together with more than 85,000 members, the ACFE is reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity within the profession.
Certified Insolvency and Reorganization Accountant (CIRAs) The Association of Insolvency and Restructuring Advisors (AIRA) is a nonprofit professional association serving financial advisors, accountants, crisis managers, business turnaround consultants, lenders, investment bankers, attorneys, trustees and other individuals involved in the fields of business turnaround, restructuring, bankruptcy and insolvency.
Forensic CPA Society (FCPA) The FCPA Society was founded July 15, 2005 with the purpose of promoting excellence in the forensic accounting profession.
National Association of Certified Valuation Analysts The National Association of Certified Valuators and Analysts (NACVA) supports the users of business and intangible asset valuation services and financial litigation services, including damages determinations of all kinds and fraud detection and prevention, by training and certifying financial professionals in these disciplines.
Canadian Institute of Chartered Accountants (CICA) Chartered Professional Accountants of Canada (CPA Canada, formerly the Canadian Institute of Chartered Accountants (CICA)) in association with the American Institute of Certified Public Accountants (AICPA) now offers the Certified in Financial Forensics (CFF) credential to members of CPA Canada.
Association of Certified Forensic Investigators of Canada Certified Forensic Investigators (CFIs) are professional fraud investigators who have by experience, education and examination satisfied the requirements of the Association of Certified Forensic Investigators of Canada (ACFI) and have been admitted as regular members of the Association. Certified Forensic Investigators are valued for their integrity and expertise.
Association of Certified Fraud Specialists (CFS) This organization directs its efforts at providing affordable, quality training opportunities to the fraud investigation industry.
Forensic Expert Witness Association (FEWA) This San Francisco based group is the only non-profit professional membership organization that verifies that each of its professional members has testified at least three times as an expert witness.
Association of Certified Financial Crime Specialists The Certified Financial Crime Specialist (CFCS) examination covers AML, cyber-crimes, fraud, bribery, corruption, tax evasion, sanctions, terrorist financing, compliance programs, asset recovery, crypto crimes, and investigations.
Organizations that concern themselves with Fraud Detection and Prevention
Association of Certified Fraud Examiners
The ACFE is the world's largest anti-fraud organization and premier provider of anti-fraud training education and certification.
Whisleblower Communication Solutions from NAVEX Global.
Ongoing reminders to keep fraud prevention top of mind, including posters with your hotline number. A positive workplace culture with open lines of communication with management. Annual training that provides employees with a deeper level of understanding of corporate fraud and appropriate ethical behavior.
Ten Essential Tips for Preventing Corporate Fraud i-Sight
The bulk of your company's fraud prevention efforts should be focused on the creation and implementation of proactive preventive techniques, including internal controls, policies, and procedures that are specifically designed to prevent fraud.
Preventing corporate fraud during organizational transformation
Change is inevitable, but it exposes companies to significant financial, occupational and compliance fraud risks - as Waste Management Inc. showed.
Five Strategies for Avoiding Corporate Fraud Science of People
Here are 5 strategies for avoiding corporate fraud in your business. ... stats from the report and end with some suggestions on preventing corporate fraud.
A Three-Point Plan to Prevent Corporate Fraud AllBusiness.com
In its simplest form, effective fraud prevention can be broken down into three pieces. The substantive policies, procedures, and activities which a company implements can be complex, but are sometimes best understood within this simple framework.
Identifying and Preventing Corporate Fraud Fraud Files Forensic
Jun 8, 2017 - Internal fraud is a huge risk to companies. Experts estimate that on average it costs companies 3% to 5% of revenue each year. When profit margins are thin, internal fraud can literally put some companies out of business. Executives are prone to underestimating the amount of fraud that exists within their companies. They want to believe that their internal controls are better, their employees are more honest, and their ability to stop fraud is more effective than that of executives at other companies.
Corporate Fraud: Tips for Fraud Prevention and Protection Shred-it
Mar 2, 2017 - Get the top 10 tips for prevention and protection against corporate fraud. Read more to secure your workplace today with these proactive.
Corporate Fraud Prevention - Now Is The Time Corporate Counsel
Jun 1, 2009 - Editor: Many companies take a reactive approach to fraud prevention and respond to fraud events only after the fact.
Small Business Fraud Prevention Tips (from Experts) Chargeback
May 18, 2018 - Fraud comes in all shapes and sizes. From suspicious employees to fraudster, a small business needs to strengthen their fraud prevention
Seven Ways to Avoid Corporate Fraud Azrael, Franz, Schwab, & Lipowitz
For more information on preventing corporate fraud or what to do in the event of such, contact a corporate fraud attorney from Azrael, Franz, Schwab & Lipowitz.
Six Strategies For Fraud Prevention In Your BusinessComplete
Jul 3, 2018 - Implement these six strategies to minimize fraud risk in your business and promote anti-fraud policy.
Fraud Prevention Keys | Corporate Governance | WhistleblowersRed Flag Reporting
May 26, 2015 - When it comes to fraud, many executives default to thinking either it won't happen here, or we don't have the resources to do anything differently. But there are five practical steps to prevent fraud that every company can manage.
Fraud prevention and detection - focus on the technological trend Financier Worldwide
How much loss could fraud cause? According to a report from the Association of Certified Fraud Examiners (ACFE), which contains an analysis of 2410 cases from January 2014 to October 2015, it is estimated that fraud could cause losses totalling 5 percent of the annual revenue of an organisation (ACFE, Report to the Nations, 2016 Global Fraud Study). Additionally, from the perspective of organisations' sustainable operation, there is a high possibility that their reputation could suffer from fraud. Despite this astonishing figure and potential reputational damage, companies still fail to appreciate the importance of establishing a sound fraud prevention and detection policy. For practical reasons, companies show indifference due to compliance costs and the naive attitude that fraud will never affect them. This financial strategy and careless view ensure that fraud continues.
Strong Corporate Governance Needed for Managing Fraud Risk Kaufman Rossin
Nov 30, 2017 - Fraud risk threatens firms of all sizes, and managing that risk starts at the top.
The median loss from a single case of occupational fraud is $150,000, with 23% of cases resulting in losses of $1 million or more, according to the 2016 ACFE Report to the Nations on Occupational Fraud and Abuse published by Association of Certified Fraud Examiners. The global fraud study also found that the median damage was 10 times worse when owners or executives committed fraud than when it was employees.
Fraud Prevention Tips For Small Business Clients Accountant
Fraud prevention seems like a heavy topic for many small business owners, but the risks are real. They can begin to protect themselves using these 10 tips.
Corporate Fraud: Prevention and Detection Stephen Hill (Author)
Since the first edition of this practical book, there has been a huge change in this area of the law, in terms of both the types of fraud that are committed and the surrounding legislation. This book provides a step-by-step guide to detecting fraud and sets out the most effective counter-measures. Written for practitioners as well as nonspecialists, including auditors and company directors, Corporate Fraud puts solid forensic accounting skills into plain English, making the title an important addition to the library of anyone with responsibilities in this area. The new content includes: coverage of Fraud Act 2006 and Proceeds of Crime Act 2002; ISA 240 and the responsibility of auditors; how fraudsters utilise IT; corporate identity fraud; motivation and the Fraud Triangle, and loss of data.
Payment Fraud Prevention Solutions Mastercard
The speed of modern payment systems is being exploited every day, leaving financial institutions and their clients to bear the costs. These new threats demand that we apply cutting-edge data science to payments data to develop new financial crimes solutions. For businesses, this can mean having help to protect from payment fraud, and for financial institutions, this means help with improvements in business performance and managing reputational risk. Be prepared for whatever the payments revolution has in store.
Credit Card Fraud Prevention American Express
Fraud is a growing concern, but you can help protect your business against it. We have information and resources to help you minimize the risk of fraud at your company.
Tips and Techniques for Detecting and Preventing Fraud Corporate Compliance Insights
Data analysis techniques and tips for detecting and preventing fraud
Fraud, whether it occurs in the form of carefully crafted ponzi scams, fudging financial reports or theft from one's own employer, is reaching alarming proportions and is not without its costs. Businesses and government agencies worldwide suffer hundreds of billions in lost or misused funds, diminished value, and irreversible damage to company reputation and customer trust.
Investor Protection and Corporate Fraud Center George Mason University
The Investor Protection & Corporate Fraud Research Center strives to provide thought leadership on investor protection and fraud risk by sponsoring, conducting, and disseminating research in these areas. The Center focuses on investor protection activities such as the role corporate governance, the role of auditors, insider trading, management disclosures, and the legal and regulatory environment of business. The Center's focus on fraud prevention includes among other things, detecting and understanding fraudulent financial and tax reporting, deliberate efforts by management to mislead stakeholders, and fraud investigation and discovery techniques.
Building a Robust Fraud Prevention Program Fraud Magazine
Microsoft, of course, is huge. That computer on your desk probably contains at least one Microsoft product. The firm has almost 80,000 full-time employees with offices in more than 100 countries and thousands of vendors. Like many burgeoning global corporations, it has to seek staffers with integrity. But even with the best hiring practices, no entity can ignore the possibility of fraud in its ranks.
Seven Habits of Highly Effective Fraud Prevention Programs Lowers & Associates
Avoiding the losses that result in cases of fraud is not a matter of luck or good fortune. Strategic fraud prevention programs, strategies, and processes form the front line of fraud defense by identifying and filling gaps before losses happen.
The Association of Certified Fraud Examiners (ACFE) has a valuable resource available to help assess the health of your existing fraud prevention processes. Known as the ACFE Fraud Prevention Check-Up, the self-administered 'check-up' can give you a candid view into your company's vulnerability to fraud and identify major gaps in your processes.
The ACFE's seven-point assessment covers the following issues, which can be interpreted as the most essential elements or "habits" of an effective fraud prevention program:
1. Fraud Risk Oversight
Effective programs establish a process for the broad oversight of fraud risks. This oversight is governed by the board of directors, an audit committee, or other group charged with governance.
2. Fraud Risk Ownership
Organizations with effective fraud prevention programs assign "ownership" of fraud risks to a senior manager. This individual then assigns down responsibilities to unit-level managers to instill a similar level of ownership across the organization.
3. Fraud Risk Assessment
Having an ongoing process for identifying significant exposure to fraud risk is another characteristic of an effective prevention program.
4. Fraud Risk Tolerance and Risk Management Policy
Certain fraud risks are tolerable and considered an acceptable cost of doing business. Others are simply too risky in their potential to cause catastrophic financial or reputational damage. Effective fraud prevention programs are calculated by their identification and categorization of risks and have a clearly accepted tolerance level for each. Taking this further, when an organization has clearly identified and has approval of its board of directors concerning policies on managing fraud risks, its processes will be more effective.
5. Process-Level Anti-Fraud Controls and Reengineering
Fraud can be prevented by layering controls over existing processes or re-working processes entirely to eliminate or reduce the potential for fraud. Organizations with effective fraud prevention practices conduct a risk assessment and then address those identified risks with process-level controls or reengineering to help prevent, deter, and detect cases of fraud.
6. Environmental-Level Anti-Fraud Controls
"Major frauds usually involve senior members of management who are able to override process-level controls through their High-Level of authority," states the ACFE. To combat this, many believe that "soft" controls, such as promoting ethical behavior, deterring wrongdoing, and encouraging all employees to report known or suspected fraud, offer a strong defense against fraud.
7. Proactive Fraud Detection
Having a process in place to proactively detect, investigate, and resolve potentially significant fraud is the final area of the ACFE's risk check-up. Proactive fraud detection tests, or audit "hooks", that are designed to spot or flag the potentially meaningful risks uncovered in a fraud risk assessment are particularly beneficial.
Assessing your organization across these seven dimensions will give you a general sense of your performance related to fraud prevention. Click here to view the full ACFE Fraud Prevention Check-Up.
For a more detailed look at fraud prevention, it is wise to consult a Certified Fraud Examiner.
top of page
Experts Providing CPE Training Events
Corporate Compliance Seminars (CCS) was created by experts who enjoy providing CPE training events. All our experts have years of experience in providing training courses, workshops and consulting on internal controls, internal auditing, information technology, cybersecurity and accounting related subjects. We have focused on SOX, COSO, PCAOB, COBIT, CMMI, GRC, GAAP, IFRS, AICPA, GAO, NAIC, ISO, and IIA Standards. We are your best source for continuing professional education (CPE).
Our programs, live in-person, webinar and on-demand, provide CPE for professionals with CPA, CGA, CIA, CFE, CISA, CMA and CA designations. CCS is focused on providing the best learning programs in using three distinct distribution channels: live in-person events, virtual webinar events and on-demand self-study e-learning.
Corporate Compliance Seminars presents CPE to a range of professionals, auditors, accountants, finance staff, compliance personnel, information technology (IT) professionals, Boards of Directors and Audit Committees. We examine the details of risk management, Sarbanes-Oxley Act compliance, Model Audit Rule (MAR) compliance, auditing, internal controls, cybersecurity and compliance, and fraud prevention and detection.
Within the U.S.A. marketplace, Corporate Compliance Seminars allows the attendee to earn NASBA CPE credit.
Our events focus on the details of the Sarbanes-Oxley Act of 2002 (SOX), Internal Controls over Financial Reporting (ICFR), Committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control Frameworks, ISACA's Control Objectives over Information Technology (COBIT), Information Technology Infrastructure Library (ITIL), Open Compliance & Ethics Group's (OCEG) Governance, Risk & Compliance (GRC) methodology, PCAOB's Auditing Standard 5 (AS5), AICPA auditing standards, and NAIC regulatory model regulations and acts .
Our live in-person events are generally presented in a small classroom setting with two to five attendees. Over the last few weeks, we have come to the understand we need to provide distant e-learning events. We are now in the process of moving all our content to an online available status. We have created distant e-learning opportunities using both a virtual webinar event approach and on-demand e-learning self-study modules. These two e-learning approaches: webinars and on-demand self-study with extended web access to our content into the global continuing professional development (CPD) marketplace. In the webinar e-learning events we will limit the number of students to maximize the interaction between the live instructor and attendees. The on-demand self-study e-learning modules will be created and offered to meet the NASBA CPE credit requirements .
Our seminars provide CPE for the CPA, CFE, CIA, CISA, auditors and others with effective and engaging internal audit training courses.
Our instructors have had direct experience in the following industries: financial activities, bank, insurance, healthcare, construction, leisure and hospitality, professional and business services, mining and oil & gas extraction, manufacturing, educational, government agencies, transportation, software, technical, hi-tech and agricultural.
top of page