Auditing/Investigating Fraud Seminar

The Auditing/Investigating Fraud Seminar is structured as a series of general lecture and specific breakout sessions developed to get the respective disciplines up to speed in fraud examination. Once a fraud is detected or predication established the next step is the careful planning and execution of the investigation. Not all frauds are created equal and knowing what to do, what skill sets bring to bear and how to conduct the process from the beginning to ensure a successful conclusion to a fraud examination is not always learned on the job. Develop and sharpen your existing skills and techniques necessary for effective fraud detection and investigation. Learn the anti-fraud concepts necessary for auditors and investigators, as well as tips, techniques and perspectives on a variety of industry specific issues.

What You Will Learn 

• An overview of the aspects of fraud examination, the legal elements of fraud and how to best obtain public information.
• From audit and accounting perspective, learn their direct responsibilities for detecting and deterring fraud.
• Review the various asset misappropriation and corruption schemes auditors may encounter.
• How financial misstatement can be a direct result of fraud.
• Analytical techniques as they relate to fraud examination.
• Investigators will get an introduction to the components of occupational fraud and abuse.
• Fundamental interviewing techniques including steps in the admission seeking interview.
• The use of the Internet as an investigative tool during fraud examinations.
• Investigators will get an overview of the legal issues which may impact them directly.
• Basic aspects of preparing reports on the fraud examination.

Who Should Attend 

• Certified Fraud Examiners and other fraud specialists
• Internal and independent auditors
• Loss prevention & security professionals
• Criminal investigators from local, state and federal agencies
• Detectives and private investigators
• Internal and independent auditors
• Lawyers, prosecutors, and other bankruptcy professionals

CPE Credit: 16
Course Level: Intermediate
Prerequisite: None

Course Speaker for Auditor Track: 

Fraud Risk Management

The field of risk management has attracted increased mainstream attention in the wake of the economic meltdown as the public has begun to comprehend the negative effects of uncontained risk. Unfortunately, many risk management professionals tend to underestimate the role of fraud in the scope of their professional duties. With organizations losing an estimated 5 percent of their annual revenues to fraud, the need for a strong anti-fraud stance and proactive, comprehensive approach to combating fraud is clear. As organizations increase their focus on risk, they should take the opportunity to consider, enact and improve measures to detect, deter and prevent fraud. This course will explain how organizations can integrate anti-fraud initiatives into their risk management programs to:

• Identify, assess and manage fraud risks from all sources.
• Support fraud risk management initiatives by establishing an anti-fraud culture and promoting fraud awareness throughout the organization.
• Develop a system of internal controls to address the entity’s fraud risks.
• Address and respond to any identified instances of fraud

What You Will Learn 

• What fraud risk is and what factors influence this risk
• An overview of risk management frameworks and how they pertain to managing fraud risk
• The steps and components needed to develop a successful fraud risk management program
• The elements of a strong ethical corporate culture
• How to promote fraud awareness to employees at all levels of the organization
• Benefits of using an automated continuous monitoring tool
• How to plan and execute an effective fraud risk assessment
• How to design and implement various anti-fraud controls at both the entity and process level
• What to do if fraud is uncovered in your organization

Who Should Attend 

• Certified Fraud Examiners and other anti-fraud specialists
• Governance, Risk and Compliance professionals
• Risk managers
• Internal auditors
• Bank and financial institution auditors
• Quality assurance managers and personnel

Money Laundering: Tracing Illicit Funds

Criminals often conceal ill-gotten gains from their victims and the authorities. The more crafty the fraudster, the tougher your job becomes to track down these assets. Money Laundering: Tracing Illicit Funds contains essential information to help you locate illicit funds. The most common asset-hiding techniques will be discussed, as well as how to use analysis to identify unknown sources of income, money laundering and offshore banking.

Money laundering is the process by which the origins of funds from illegal enterprises are concealed through a variety of methods including offshore havens, legitimate businesses and other methods. It has an economic impact on most businesses and government entities. Money laundering is a common element in many fraud, corruption and terrorist financing cases. In this course, you will learn how international laws and regulations apply to your business and how to incorporate an anti-money laundering process that is right for your company.

What You Will Learn 

• Common locations for cash hoards
• Investment of ill-gotten gains
• Mechanisms of laundering cash and currency instruments
• How to detect offshore accounts and corporations
• How to develop the business and personal profile
• Introduction to money laundering and the three stages common to it
• How to detect the red flags of money laundering
• Common channels used to launder funds
• How to implement regulations based on the needs of your specific industry and customers
• How to identify risk factors and apply policies consistently across your company

Who Should Attend 

• Certified Fraud Examiners and other anti-fraud specialists
• Special investigation unit personnel
• Loss prevention and security professionals
• Criminal investigators from local, state and federal agencies
• Detectives and private investigators
• Internal and independent auditors
• Lawyers, prosecutors and other bankruptcy professionals