PROGRAM DETAILS

Introduction:

 Forensic accounting and fraud examination are different but they are related. Forensic accounting is completed by accountants in anticipation of litigation. They include investigation, valuation, bankruptcy, and a host of other professional services. On the other hand, fraud examinations can be carried out by either accountants or non-accountants and refer only to anti-fraud matters and often help in fraud prevention and deterrence efforts.

Fraud examinations generally fall under forensic accounting category because the majority of examinations, investigations, and reports on fraud are done with the aim of litigation. In other words, fraud examiners are taught to oversee their examination with the assumption that the case may end in litigation.  This five-day masterclass will provide participants with the various tools, techniques and processes to help minimise the severely damaging impacts of internal fraud.

 Learning Objectives:

By the end of this workshop, delegates will be able to:

• Explain the key differences between forensic accounting and fraud examination
• Implement fraud Examinations to decrease the likelihood of fraud in the organization
• Use Microsoft Office tools to find fraudulent transactions and report on them
• Apply statistical and forensic accounting tools to analyze data
• Assist internal audit and senior management in testing data and finding anomalies
• Use Excel efficiently to identify suspicious information that needs further fraud investigation
• Identify fraud and anomalies using Excel

Target Audience:

This workshop will be of particular benefit to those who are currently working as professionals in the field of finance and accounting.  This may include, but is not limited to the following:

• Chief Financial Officers
• Financial Directors and Controllers
• Accounting Managers
• Senior and chief accountants
• Business Analysts
• Internal and external auditors and accountants at all levels seeking to enhance their practical forensic accounting skills.

 Training Methodology:

This practical and results-oriented program incorporates short inspiring facilitated discussions with structured lessons from the learning manual.  There is a captivating PowerPoint slide presentation with stories to enhance learning, a variety of pertinent video sequences, ongoing learning reinforcement and discussions with action planning. Ample time will be given for questions and answers.

Program Content:

Day 1 – Fraud and Forensic Accounting

• Introduction to fraud
• Fraud triangle
• Fraudsters’ profile
• Introduction to forensic accounting
• Introduction to fraud examination
• Corporate governance and ethics
• Code of conduct

 Day 2 – Fraud Schemes and Examinations

• Financial statements
• Corruption schemes
• Fraud Schemes in Assets
• Fraud Schemes in Liabilities
• Fraud Schemes by outsiders
• Fraud Schemes in Purchasing
• Fraud Schemes in Sales
• Red flags
• Fraud detection
• Fraud prevention
• Fraud response
• Internal Examinations

 Day 3 – Forensic Analysis with MS Office

• Importing data into Excel
• Analysing data in Excel
• Protecting data in Excel
• Reporting data in Word
• Reporting data in PowerPoint
• High-level data tests
• Data profile
• Periodic graph
• Histogram
• Utilizing Excel to prepare data profile

Day 4 – Using Benford’s Law to Test Numbers

• Data sets that could be used
• Effect of data size
• Basic digit test
• First two-digit tests
• Summation test
• Number duplication test in Excel
• Last two digits test

 Day 5 – Identifying Fraud and Anomalies Using Excel

• Largest growth test
• Largest subsets test
• Relative size factor test
• Same-Same-Same test
• Same-Same-Different test