Forensic Accounting for Fraud

The seminar reviews and answers the following questions:

• Internal Control Principles and Fraud Management

• Forensic Accounting Skill Set

• Understanding the people that commit fraud

• Overview of fraud classification

• Financial Statement Fraud Analysis

• "Best Practice" Anti-Fraud Controls

• Using Software Tools to examine "Big Data"

• Using Software Tools to examine "Metadata"

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Attendees will:

• Understand how forensic accounting is part of the internal auditor function.

• Learn how to identify fraud risks

• Review best practices in fraud prevention and detection programs

• See what software tools are available for the forensic project.

Introduction
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

• Corruption

• 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

• Prevention

• Detection

• 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

• Confirmations

• 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

In this CPE event "Forensic Accounting for Fraud," attendees will immerse themselves in an insightful exploration of the critical role of forensic accounting in uncovering and combating fraudulent activities.

This event provided by CCS emphasizes the significance of forensic accounting techniques in detecting, investigating, and preventing financial fraud within organizations. Participants can anticipate a comprehensive session delving into real-world case studies, practical methodologies, and emerging trends in forensic accounting, empowering them to navigate the complex landscape of fraud with precision and expertise.

Expanding your knowledge after the CPE event on Forensic Accounting for Fraud is essential for staying informed about industry best practices and gaining deeper insights into the subject matter. Here are some authoritative sources along with web links to further enhance your understanding:

• Association of Certified Fraud Examiners (ACFE)
  • The ACFE offers valuable resources and insights related to forensic accounting, fraud examination, and anti-fraud practices, providing a comprehensive understanding of fraud detection and prevention techniques.
• Journal of Forensic Accounting Research
  • Accessing the Journal of Forensic Accounting Research can provide in-depth scholarly articles, research findings, and case studies in the field of forensic accounting, offering a wealth of knowledge for professionals seeking to deepen their expertise.
• The Institute of Internal Auditors (IIA)
  • The IIA offers training courses, resources, and publications focusing on fraud and forensic auditing, equipping attendees with practical skills and knowledge to effectively address fraud-related challenges.

By delving into these authoritative sources, you can continue to build upon the insights gained from the CPE event, fostering a deeper understanding of forensic accounting for fraud and empowering yourself with the latest industry knowledge and best practices. Our goal is to help you do a better job at criminal accoutning investigations and in handling fraud investigations.