Why Choose this Training Course?
This Forensic Auditing training course is designed for those who need to learn about one of the most significant and fastest growing businesses – fraud. This largely invisible and poorly understood risk cost the world economy more than 4 trillion dollars last year (according to the Association of Certified Fraud Examiners)
Using case studies and the wide experience of the trainer, this training course will focus on how to develop an effective process to detect fraud. This COPEX training course will demonstrate the tools and techniques of fraud discovery including the use of big data and data analytics.
This training course will feature:
- How to identify the profiles of the different fraudsters
- The anatomy of fraud and how to detect it
- The 50 main fraud indicators
- The power of data analytics
- How to use powerful but relatively unknown tools such as Benford’s law and Markov chains
What are the Goals?
By the end of this training course, participants will be able to:
- Think like a fraudster – the only way to detect complex frauds
- Understand the techniques of data mining as a fraud detection tool
- Appreciate the key aspects of fraud profiling
- Use continuous auditing and continuous monitoring to uncover unusual patterns
- Understand when it seems ‘too good to be true’ it usually will be
Who is this Training Course for?
Professionals who need to build a more in depth understanding of fraud detection techniques
This COPEX training course is suitable to a wide range of professionals but will greatly benefit:
- Internal auditors in organisations without a dedicated fraud team, as they are having to take a much more significant role in the detection and investigation of fraud
- Audit Managers and Lead Auditors who need to learn about the most modern approaches to fraud detection
- Fraud specialists who need more appreciation of how to detect fraud
- Certified Fraud Examiners
- Accountants who need an understanding of forensics
- Managers needing a broader understanding of how to prevent and detect fraud
How will this Training Course be Presented?
This dynamic COPEX training course will utilise a variety of proven learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes various exercises and case studies to provide practical application of the tools and techniques. A series of valuable tools and templates will be provided in electronic format – to take away and use immediately.
- The power of Fraud Profiling
- Who are the fraudsters – internal and external
- ACFE fraud survey results
- Identity fraud
- Corruption – the most difficult fraud to detect
- 15 case studies and the key lessons
- Why controls may not protect you
- Putting yourself in the mind of the fraudster
- The 50 key indicators – and how to use them
- Developing a forensic audit toolkit
- The need for a cost-effective balance between prevention and detection
- Identifying vulnerabilities
- Use of Computer assisted audit techniques (CAAT’s)
- Data mining techniques
- Fraud risk prioritisation
- Benford’s law
- Use on Monte Carlo simulations and Markov chains
- Forensic auditing of big data
- Automated fraud detection
- The control weakness and the key fields approaches
- The association rules in fraud detection
- Use of fuzzy logic
- Neural networks
- Data visualisation and pattern recognition
- What to do when potential fraud is detected
- The legal aspects of use of forensic data
- Using external and internal databases
- Integrating the information/ identifiers in audits – to avoid bringing attention
- Reporting the results
- When to inform external bodies
- COPEX Certificate of Attendance will be provided to delegates who attend and complete the course
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