Course in Fraud and Forensic Auditing

Objectives and Target Group

• Master the skills needed to conduct a comprehensive fraud investigation, using forensic audit procedures and applying fraud risk assessment techniques to identify potential financial fraud.
• Develop expertise in forensic accounting to support investigations and provide expert advice in legal proceedings, ensuring the findings are robust and legally admissible.
• Learn how to implement fraud prevention strategies, focusing on how to detect early warning signs of fraud and develop proactive measures to prevent financial losses.
• Gain in-depth knowledge of forensic audit techniques and the application of modern tools to investigate complex fraud cases in diverse organisational settings.
• Understand the process of preparing and presenting forensic audit reports, including the legal and ethical implications of the findings, and how to communicate them effectively to stakeholders.
• Develop practical insights into the most common types of fraud and how to use forensic accounting skills to mitigate the risk and impact of financial fraud.

Target Audience

• Internal Auditors who are responsible for reviewing financial records and ensuring the integrity of the financial information within an organisation. They will benefit from advanced knowledge in fraud detection and fraud prevention strategies.
• Financial Professionals such as accountants and auditors who wish to specialise in forensic accounting and develop a deep understanding of how to investigate and analyse financial fraud effectively.
• Risk Managers and professionals involved in identifying and managing financial risks will find this course particularly valuable, as it addresses the key aspects of fraud risk assessment and mitigation.
• Law Enforcement Officials or legal professionals involved in fraud investigations or criminal justice will gain the skills required to understand the financial intricacies of fraud cases and how to work with forensic accounting experts.
• Compliance Officers who ensure regulatory compliance and internal controls within an organisation, allowing them to identify suspicious activities and implement effective control measures to prevent fraud.
• Consultants and other professionals who offer advisory services to clients regarding financial integrity, fraud risk management, and the implementation of forensic audit procedures.

Course Content

• Introduction to Fraud and Forensic Auditing
  • Overview of the role of forensic auditing in modern business environments.
  • Understanding the significance of forensic accounting in fraud detection and investigation.
  • Examining the legal aspects of fraud detection, including the role of forensic audit reports in supporting legal proceedings.
• Fraud Detection and Financial Fraud Investigation
  • Techniques and tools used in fraud detection, focusing on identifying financial discrepancies and fraudulent activities.
  • Case studies of common fraud schemes and how fraud examination helps uncover them.
  • Investigating financial fraud through the use of forensic audit procedures, with an emphasis on tracking down hidden assets and illicit financial transactions.
• Forensic Accounting Services and Procedures
  • Comprehensive introduction to the forensic accounting services that can be provided to organisations, ranging from fraud investigations to litigation support.
  • Key forensic audit techniques used to analyse financial statements and identify potential fraud risks.
  • A deep dive into the forensic audit procedures used in real-world cases, from initial investigation to presenting findings in court.
• Fraud Risk Assessment and Prevention Strategies
  • Understanding the concept of fraud risk assessment and how to evaluate the vulnerability of an organisation to fraud.
  • Developing fraud prevention strategies to create a robust internal control environment that reduces the likelihood of fraudulent activities.
  • How to conduct thorough fraud risk assessments, focusing on both financial and operational risks, and implementing strategies to minimise exposure to fraud.
• Forensic Audit Reports and Legal Considerations
  • Exploring the process of preparing and drafting forensic audit reports, ensuring that findings are clear, credible, and legally defensible.
  • Understanding the role of the forensic auditor in legal proceedings, including providing testimony and expert opinions based on audit findings.
  • The ethical and legal considerations involved in the preparation and dissemination of forensic audit reports, ensuring compliance with relevant regulations and standards.
• Practical Fraud Examination and Case Studies
  • Reviewing real-life case studies of fraud investigations and how forensic auditing helped uncover the fraudulent activities.
  • Hands-on exercises in fraud examination, where participants analyse actual financial records and use forensic techniques to uncover fraud.
  • Group discussions on lessons learned from past fraud investigations, including common pitfalls and successful approaches to fraud detection.
• Advanced Forensic Auditing Techniques
  • Introduction to advanced forensic audit techniques used in large-scale fraud investigations, including data mining, forensic data analysis, and forensic software tools.
  • How to apply fraud detection techniques in various types of organisations, from small businesses to multinational corporations.
  • Utilising modern tools and methodologies for investigating complex fraud cases, including cyber fraud and digital forensics.
• Fraud Prevention and Control Frameworks
  • Developing frameworks for preventing fraud through the establishment of strong internal controls, ethical guidelines, and regular audits.
  • How to assess the effectiveness of current fraud prevention strategies and identify areas for improvement.
  • Training employees and stakeholders in fraud awareness and prevention, ensuring that fraud risk management becomes a part of the organisational culture.