Training Fraud Prevention and Financial Integrity

Training Fraud Prevention and Financial Integrity

INTRODUCTION

This course aims to use the lessons of the current economic and financial crisis to teach a practical approach to corporate/financial fraud prevention and financial integrity. Participants can expect to be trained both to identify important budgeting techniques and in how to perform cost control within a corporate structure. Considerable attention is given to the auditing tools that allow business ethics, integrity and fraud prevention issues to be raised and dealt with the greatest probability of an ethical outcome, and preventing fraud and financial and reputational losses and damages.

PROGRAMME OBJECTIVES

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• Analyzing the available data to come up with an effective investigation plan
• Carefully organizing and maintain the evidence
• Responding to fraud complaints in a timely manner 
• Completing the internal stage of the investigation
• Helping the organization achieve its performance and profitability targets

WHO SHOULD ATTEND?

• Financial auditors
• Public sector auditors
• Administrators 
• Managers 
• Consultants

PROGRAM OUTLINE

• • Fraud detection 
  • Types of financial statement fraud
  • Financial statement fraud detection using text mining
  • Duplicate transactions
  • Even amounts
  • Ratio analysis
  • Trend analysis
  • Benford’s Law

• • Procurement cycle
  • The most common procurement fraud schemes
  • Procurement fraud red flags
  • Fraud investigation 
  • Forensic investigative techniques 
  • Corrective actions
  • Containing fraud

• • Budgeting & costing in project management
  • Best practice for cost estimating, cost budgeting, and cost control
  • Inputs to the control costs process
  • Procurement planning
  • Preparing budgets and forecasts
  • Classifying costs correctly

• • Internal control definition according to COSO
  • Effective internal control system components
  • Internal control framework 
  • Limitations of internal control 
  • Major deficiency and material weakness 
  • Documentation
  • Transition –timeline and effort

• Auditing
• Preliminary survey, questionnaires, interviewing & other techniques
• Analytical procedures in auditing
• Benchmarking
• Drawing conclusions
• Process mapping, including flow charting
• Evaluate relevance, sufficiency, and competence of evidence