Fraud Evaluations: A Guide for The Compliance Professional

Overview

The topic of fraud continues to be on the radar of investors, shareholders, and regulators. Despite a Kroll Advisors survey showing a decrease of corporate fraud incidents in recent years, new fraud methods are continually being devised and identified thanks in large part to advances in technology and IT infrastructure.

Compliance professionals and auditors are not expected to have the expertise of forensic investigators but should have working knowledge of the aspects of fraudulent activities and maintain a skeptical mind when it comes to reviewing potential violations.

This course provides a practitioner’s perspective of what your company should include in their internal audit programs and processes to mitigate and avoid fraud. We’ll cover:

The psychology of fraud and connection to the fraud triangle and fraud diamond
The International Professional Practices Framework (IPPF) for internal auditors
Employing the COSO 2013 towards fraud
Rightsizing the internal audit team's responsibilities
Risk assessment considerations
Reporting procedures

Highlights

Psychology Dynamics
COSO and Fraud
Fraud Theories
Opportunity Considerations
Added Dimensions
COSO Considerations
Control Environment Principles
Determining Internal Audit's Role
Understand the Business
Auditors and the IPPF
When Management Objects & Potential Steps

Prerequisites

Exposure to internal controls

Designed For

Any accounting or financial professional or auditor wanting to understand more about fraud evaluation

Objectives

Identify the attributes of fraud
Identify 5 Control Environment principles that can be connected to the need to evaluate for fraud
Recognize how to utilize professional skepticism when evaluating for fraud