Forensic Accounting and Auditing

Introduction

Corporate frauds have the inherent power to bring large organizations to their knees, cause huge monetary loss, prompt lawsuits followed by significant legal expenses, lead to the imprisonment of employees, and deteriorate confidence in the market, governments, and institutions.

While developments in the business world, especially on the technological front have accelerated the evolution of various industries, it has also engendered the evolution of white-collar crime, especially corporate fraud. The destructive repercussions of corporate fraud have been felt across governmental bodies and companies irrespective of the industry they belong to.

Training Schedule

In response, corporations and governments across the globe have stepped up their effort to inspect, prevent, and penalize fraudulent practices; resulting in a greater emphasis on the domains of forensic auditing and accounting in the current economy.

This training course will empower you to recognize the root causes of fraud and white-collar crime in the current economy, understand the categories of fraud, equip you with methodologies of fraud detection and prevention, and heighten your ability to detect potential fraudulent situations.

In addition to the fundamentals of fraud investigation and detection in a digital environment; profit-loss evaluation, analysis of accounting books, legal concepts, and quantification of financial damages are also examined in this course.

Course Objectives

The primary objective of this Forensic Auditing and Accounting course is to empower the investigator or the overseer with:

• Fundamentals of accounting practices and financial statement analysis.
• An overview of the forensic accounting legal environment
• An understanding of the forensic accountant’s responsibility, forensic accounting, and fraud examination
• In-depth study of the procedures in fraud detection including:
• Methodologies to identify and categorize fraudulent practices
• Various approaches to the collection of evidence
• Fraud investigation procedures
• Reporting, and the recovery procedure following legal prosecution
• Business Valuation Strategies
• Knowledge to plan and strategize viable frameworks and procedures for fraud detection and prevention
• The essential expertise to become a more effective and efficient forensic auditing and accounting investigator/overseer.

Course Outline

The Forensic Auditing and Accounting course will comprise the topics mentioned hereunder that are crucial aspects of Forensic Auditing and Accounting:

Module 1 – Introduction to Forensic Accounting and Fraud Examination

• Fundamentals of accounting practices
• The essentials of forensic examination
• Responsibilities of accounting investigators and auditors
• The forensic accounting legal environment

Module 2 – Understanding Corporate Fraud

• Synopsis of white-collar crimes
• Overview of Effective Fraud Investigation
• Types of Corporate Fraud
• Psychology of the Fraudster Profile
• The Fraud Triangle theory
• Implications of corporate fraud to internal and external stakeholders

Module 3– Examination of Financial Statements and Analytical Techniques

• Scope and types of financial statement frauds
• Analysis of financial statements and audit reports
• Horizontal and vertical analysis
• Financial ratio analysis
• Anomaly detection to identify non-conformities

Module 4 – The Fraud Investigation and Engagement Processes

• Techniques for recognizing the symptoms of fraudulent behavior
• Review of the investigation process and case initiation
• Evidence collection techniques–
• Gathering & Assessing Observational Evidence
• Gathering & Assessing Financial Evidence
• Gathering & Assessing Non-Financial Evidence

Module 5 – Data compilation and analysis

• Importing & Analyzing data utilizing MS Office tools
• Root cause analysis (RCA) of corporate fraud
• Understanding the analysis of data based on Newcomb Benford’s law
• Overview of Data-driven Fraud Analysis Techniques
• Evaluating the extent and scope of fraudulent practices

Module 6 – Reporting of Findings and Analysis

• Auditor responsibility and reporting standards
• Forensic audit report template
• Risk assessment and reporting
• Business Valuation and Damages reporting

Module 7- Fraud Prevention

• Examining the existing internal control environment
• Understanding the COSO Model (“Internal Control-Integrated Framework”)
• Control Environment
• Risk Assessment
• Control Activities
• Information & Communication
• Monitoring
• In-depth review of COSO’s Fraud Risk Management Guide 2016.
• Learning the ‘Evaluate – Identity – Deter – Respond’ cycle of managing corporate fraud

Module 8- Deterring Corporate Fraud

• Identifying organizational tolerance to risk and improvement of internal controls
• Formulating a Critical Fraud Response Strategy
• Developing an anti-fraud program

Module 9 – Effective Functioning within an organizational framework

• Aligning objectives and expectations with key decision-makers
• Effectively Communicate objectives to relevant personnel
• Cooperating with internal and external auditors
• Working alongside other legally trained departments such as compliance, legal and ethical committees.

TRAINING APPROACH

This course will be delivered by our skilled trainers with vast knowledge and experience as expert professionals. The course is taught in English and through a mix of theory, practical activities, group discussion, and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

TAILOR-MADE COURSE

This course can also be tailor-made to meet organizational requirements. For further inquiries, don’t hesitate to get in touch with us on: Email: info@advantaedgedev.com Tel: +254 713 072 883

TRAINING VENUE

The training will be held at our Advantaedge Training Centre. We also offer training for a group at requested locations worldwide. The course fee covers tuition, training materials, two break refreshments, and a buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

CERTIFICATION

Participants will be issued with an Advantaedge certificate upon completion of this course.

AIRPORT PICKUP & ACCOMMODATION

Airport pickup and accommodation are arranged upon request. For booking contact our Training Coordinator through Email: info@advantaedgedev.com Tel: +254 713 072 883