Auditing for Internal Fraud

Registration & Fees

Registration Fee:
ACFE Members: $625
Non-Members: $725
Early Registration Deadline: February 14, 2022
Register by the Early Registration Deadline to SAVE $125!

Course Outline

Day 1

• 8:00 a.m. - 9:20 a.m.: Introduction to Auditing for Fraud

  In this opening session, you will learn what fraud is (and what it isn’t), the impact of fraud on organizations, red flags that might indicate the presence of fraud and how to proactively plan the audit to detect fraud.

• 9:20 a.m. - 9:35 a.m.: Break

  Break

• 9:35 a.m. - 10:55 a.m.: Understanding Auditors' Fraud-related Responsibilities

  This session will cover the professional standards that define the responsibilities of both external and internal auditors with regard to fraud detection and prevention. It will also explore the auditors’ ethical obligations related to fraud.

• 10:55 a.m. - 11:10 a.m.: Break

  Break

• 11:10 a.m. - 12:30 p.m.: Where Were the Auditors?

  History is full of stories of large frauds that slipped by the auditors’ watch. In this session, you will discuss critical skills that are needed to effectively detect fraud during an audit, the expectations gap, and other challenges that often hinder auditors’ effectiveness in detecting fraud. You will also explore some real-life examples of frauds that were missed by the auditors.

• 12:30 p.m. - 1:30 p.m.: Lunch

  Lunch

• 1:30 p.m. - 2:50 p.m.: Enhancing Skepticism and Overcoming Bias

  Professional skepticism forms the foundation of effective fraud detection during an audit. But what does a skeptical mindset look like in practice? In this session, you will learn about the traits characteristics that are required to exercise professional skepticism, as well as how to overcome some challenges in doing so. You'll also discuss numerous forms of bias that auditors often inadvertently bring to an engagement and ways to proactively minimize the effects of those perspectives.

• 2:50 p.m. - 3:05 p.m.: Break

  Break

• 3:05 p.m. - 4:25 p.m.: Conducting a Fraud Risk Assessment

  This session will explore the reasons for conducting fraud risk assessments and what makes a fraud risk assessment successful. It will also cover how to develop and execute an effective fraud risk assessment as a part of an audit and how to report and use the results of the assessment to make an impact within the organization.

Day 2

• 8:00 a.m. - 9:20 a.m.: Finding Fraud Using Data Analytics

  As the amount of data generated by organizations has increased, so has the importance of data analytics to the audit and fraud detection processes. In this session, you will learn about different types of data analysis techniques and how to apply them to uncover the red flags of fraud. You will also explore how to implement a formal data analysis process, beginning with proper planning and preparation, to ensure the results are as meaningful and accurate as possible.

• 9:20 a.m. - 9:35 a.m.: Break

  Break

• 9:35 a.m. - 10:55 a.m.: Financial Statement Fraud and Corruption

  In order to detect fraud during an audit, the auditor must be thoroughly familiar with the methods used by fraudsters. This session covers the two most costly forms of fraud: financial statement fraud and corruption. You will learn about common financial statement manipulation and corruption schemes employed by fraudsters, their red flags, and methods to detect them.

• 10:55 a.m. - 11:10 a.m.: Break

  Break

• 11:10 a.m. - 12:30 p.m.: Asset Misappropriation

  This session is spent discussing schemes used by fraudsters to steal cash and other assets from their employer. You will learn about schemes involving skimming, cash larceny, check tampering, false billing, fraudulent register disbursement, expense reimbursements, payroll, inventory theft and asset misuse.

• 12:30 p.m. - 1:30 p.m.: Lunch

  Lunch

• 1:30 p.m. - 2:50 p.m.: Interview Techniques

  There is more to auditing for fraud than reviewing source documents and schedules. Fraud examiners might need special training in effective communication techniques, such as how to craft appropriate interview questions and how to spot signs of deception. That's what you'll learn in this session and more.

• 2:50 p.m. - 3:05 p.m.: Break

  Break

• 3:05 p.m. - 4:25 p.m.: Prevention of Occupational Fraud

  Auditors can provide valuable help to organizations in designing an effective fraud prevention program. This session introduces you to key fraud prevention approaches and provides you with practical solutions to help your organization or your client reduce its losses due to fraud.

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