FORENSIC ACCOUNTING AND CORPORATE FRAUDS CONTROL

About Forensic Accounting and Corporate Frauds Control – Online Workshop

Corporate crime is an unlikable fact in today’s big business world. It has touched every country, every industry, and has no signs of stopping. Throughout the past 5 years, the number of reported cases of fraud and corruption has continued to grow radically. Compounding this are the challenges faced by the audit team and a general lack of the necessary skill sets to collect the right audit evidence so critical to criminal investigations.

While the regulatory measures and internal controls in reporting requirements help to lessen the potential for falsified activities to take place, history has shown that ingenious employees can and have manipulated even the best control systems for personal gain.

Virtually every entity suffers from fraud, though management might not know it. With fraud costing entities an estimated 5% of their annual revenues, organizations lacking proactive fraud prevention measures are the most at risk.

Occupational fraud is a significant threat to any organisation. Those organisations which employ fewer anti-fraud controls are more vulnerable to fraud.

Forensic auditing provides an investigation methodology and accounting analysis that is suitable to the court which will form the basis for discussion, debate and ultimately dispute resolution. This course concentrates on practical advice for internal auditors in the fight against fraud, with focus sessions on deterrence, data mining and interviewing in a stressed environment. It provides an incisive analysis of how fraud occurs within an organisation and explains the latest techniques for fighting it.

Course Objectives

On completion of this course, attendees will be able to:

  • Conduct anti-fraud and anti-bribery audits
  • Detect white collar crimes within an organization
  • Skills for Forensic Investigations
  • Successful prosecution of economic crimes, in particular fraud
  • The integration of accounting, auditing and investigative skills
  • Gain the expertise to conduct investigations and ensure recovery
  • Learn how to make your organization resistant to all forms of unethical businesses
  • Secure, Analyze and Present the Evidence
  • Find elusive misconducts that others miss

Course Methodology

The course is fully interactive where participation is encouraged for a maximum benefit. Delegates are invited to present their own cases, scenarios where questions can be answered and queries or doubts can be resolved. There will also be work groups. Case studies and practical examples for discussion will be used.

Who Should Attend?

This course is ideal for middle and senior managers who have ownership of the responsibility of overseeing the audit process as it relates to the detection and prevention of economic crime. Some of the focus job titles for this course include:

  • Chief Internal Auditor
  • Head of department for Auditing
  • Forensic auditor
  • Investigation auditor
  • Financial auditor
  • IT auditor
  • Internal audit manager
  • Internal audit executive
  • Internal audit and compliance
  • Project audit manager
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  • Definition of ‘forensic’
  • Forensic Accounting vs Auditing
  • Importance of Organizational Structure
  • Review of Internal Controls
  • What is fraud
  • Fraud Triangle – Fraud Diamond
  • Understanding How Fraud Can Be Committed – Red Flags
  • Fictitious Revenue
  • Timing Differences
  • Improper Asset Valuation
  • Concealed Liabilities and Expenses
  • Skimming v Cash Theft
  • Billing Schemes
  • Payroll Fraud Schemes
  • Expense Reimbursement Schemes
  • Misuse of Inventory
    and other Assets
  • Theft of Inventory and other Assets
  • Misappropriation of Intangible Assets

Case studies/Work group: Identifying fraud schemes and their red flags

  • Developing an Investigation Plan
  • Begin collecting information
  • Create a subject profile for each investigation target
  • Profiling the subject
  • Methods and techniques to identify Fraud
  • Financial and Non-Financial data
  • Data analysis
  • Benford’s Law
  • Ratio Analysis
  • Horizontal and Vertical Analysis

Case studies: application of data analysis methods

  • Obtaining documentary evidence
  • Examining fraudulent documents
  • Handling documents as evidence
  • Interviewing Witnesses
  • Question typology to be used: open, closed, introductory, informational
  • Inhibitors of communication: ego threat, forgetting, chronological confusion, unconscious behaviour
  • Dealing with resistance and difficult people
  • Admission seeking questions: preparation and steps
  • Presenting the results of your investigation
Juan Carlos Venegas
CIPFA (AFILL) FAIA ACPA CACM ICFS FCFIP
Juan Carlos Venegas is a highly experienced accountant, certified forensic investigation professional, counter- fraud specialist, and trainer; founder of Fiscal Accounts in 2003 incorporated in 2018, an accountancy firm specialised in taxation (UK/Spain), financial management, budgeting and forecasting, financial reporting and financial planning, and founder of FA Forensics Ltd in 2017, an consultancy firm in the UK specialised in fraud prevention, detection and investigations, and forensic accounting. He advises clients on taxation, financial management, budgeting and strategy implementation, fraud prevention and detection and internal control. His clients are companies from different sector: construction, retail, multimedia, manufacturing, etc. He is also a consultant for the Global Bankers Institute.
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Event Details
  • Start Date
    August 24, 2020 09:00
  • End Date
    August 25, 2020 17:00
  • Status
    Expired
  • Location
  • Category
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