Uncovering Fraud with Financial and Ratio Analysis




CPE Credit: 16
Course Level: Advanced
Prerequisite: A solid understanding of the creation of and relationships between an organization's financial statements and records

Anomalies in an organization’s financial reports can be an indicator that fraudulent activity is occurring — if you know what to look for. Digging deep into the financial statements offers an advanced method of detecting fraud by uncovering relationships that don’t make sense and highlighting red flags of potential manipulation.

Learn how to use in-depth financial and ratio analysis to spot the warning signs of fraud in your organization during this two-day ACFE seminar. This instructor-led course will provide you with an overview of numerous types of analyses that can be used to identify embezzlement, corruption schemes, and fraudulent financial reporting. Practical problems and real case examples discussed throughout the course will illustrate many of the principles and techniques that are presented.


Upcoming Courses 

No courses are scheduled at this time. Please view our Calendar of Events for other upcoming seminars.


You Will Learn How To:  

Design financial analyses aimed at detecting specific types of fraud schemes, including asset misappropriations, corruption schemes and financial statement fraud

Elevate the fraud-detection capabilities of traditional horizontal, vertical and ratio analyses

Recognize financial anomalies, including duplicate transactions and violations of Benford’s Law

Apply complex ratios, such as the Beneish M-score and other multiple-factor analyses

Formulate targeted ratios that combine non-financial data with financial data

Design and perform a fraud risk assessment to determine which ratios are of the greatest importance to monitor

Select and implement monitoring tools to help automate and improve detection of financial red flags 

Who Should Attend:  

Certified Fraud Examiners and other anti-fraud specialists

Internal and external auditors

Forensic accountants

Controllers, CPAs and other accounting professionals 


Members: $695
Non-Members: $845 

CPE Credit


Field of Study


Course Level


A solid understanding of the creation of and relationships between an organization's financial statements and records 

Advanced Preparation 



Delivery Method 


  Day One  
7:30-8:00 a.m.   Registration & Continental Breakfast   
8:00-9:20 a.m. 


Ratios and financial analysis are used by many professionals to analyze organizations’ performance and financial health. But they can also be used to identify the red flags of fraud. This introductory session sets the stage for learning how to do so by exploring the basic types of ratios and how they can be used, as well as the importance of assessing and ensuring the ratios’ reliability. You will also discuss recent research on the use of ratio analysis to detect fraudulent activity.

9:20-9:35 a.m.  Break 
9:35-10:55 a.m. 

Ratio Analysis and Fraud Detection 

In this session, you will review different types of asset misappropriation, corruption, and financial statement fraud schemes and how their symptoms can be identified using ratio and financial statement analysis.

10:55-11:10 a.m.  Break  
11:10 a.m.-12:30 p.m. 

Financial Ratios, Part 1 

In the first of three sessions on traditional financial ratios, you will learn how budget variance analyses can be used to uncover the red flags of fraud. You will also discuss numerous profitability ratios, asset utilization ratios and liquidity ratios, and their use in fraud detection.

12:30-1:30 p.m.  Group Lunch  
1:30-2:50 p.m. 

Financial Ratios, Part 2 

In this session, you will continue the discussion of financial ratios as a fraud detection technique. You will learn how leverage ratios can help highlight fraud symptoms, as well as how exploring ratios in specific functions such as accounts receivable, inventory and accounts payable provides an effective means of analyzing those areas for fraud.

2:50-3:05 p.m.  Break  
3:05-4:25 p.m.  

Financial Ratios, Part 3 

This session wraps up the discussion of financial ratios by covering cash conversion cycle analysis, micro-level composition ratios, spending ratios and the use of the DuPont model as a fraud detection tool.



  Day Two 
7:30-8:00 a.m.   Continental Breakfast   
8:00-9:20 a.m. 

Using Multiple-Ratio Scores to Detect Fraud 

In some cases, a single ratio might be all that is needed to uncover warning signs of fraud. In other cases, however, the fraud can best be identified only when several related ratios are studied collectively. This session explores how the Beneish M-Score and several multiple-ratio models can be valuable tools in a fraud examiner’s professional toolbox.

9:20-9:35 a.m.  Break  
9:35-10:55 a.m. 

Other Types of Financial and Ratio Analysis 

In this session, you will learn how Benford’s law analysis, reasonableness testing, regression analysis, and other financial analysis techniques can be used to uncover trends and anomalies that might indicate fraud.

10:55-11:10 a.m.  Break  
11:10 a.m.-12:30 p.m. 

Using Non-Financial Data to Detect Fraud 

The use of non-financial data is invaluable as a fraud detection tool because perpetrators rarely have the ability to manipulate the non-financial data that correlate to their financial frauds. This session explores how analyzing non-financial data, both separately and in relation to financial information, can take a fraud examiner’s fraud detection skills to the next level.

12:30-1:30 p.m.  Lunch on Own  
1:30-2:50 p.m. 

Ratio Analysis and the Fraud Risk Management Process 

With the vast amount of financial and non-financial data that organizations house, it is important to implement a financial and ratio analysis program that integrates into the company’s overall fraud risk management approach. This session explains how to assess fraud risks within an entity and how to use the results of that assessment to create an effective financial and ratio analysis system.

2:50-3:05 p.m.  Break  
3:05-4:25 p.m.  

Matching Fraud Schemes with Ratios and Investigating Anomalies 

This session brings together all the information discussed in the course through several practical exercises on identifying relevant fraud risks, determining the appropriate ratios to use for fraud scenarios, and investigating uncovered anomalies.

Event Cancellation Policy 

Our cancellation policy is intended to keep costs low for attendees. Due to financial obligations incurred by ACFE, Inc. you must cancel your registration prior to the start of the event. Cancellations received less than 14 calendar days prior to an event start date are subject to a $100 administrative fee. No refunds or credits will be given for cancellations received on or after the start date of the event. Those who do not cancel and do not attend are responsible for the full registration fee.


Satisfaction Guarantee 

ACFE seminars are unmatched in scope and effectiveness and backed by our unconditional satisfaction guarantee. If you attend an ACFE event and are not completely satisfied, please contact an ACFE Member Services Representative at MemberServices@ACFE.com or call (800) 245-3321 / +1 (512) 478-9000.


NASBA CPEThe Association of Certified Fraud Examiners, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


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