FORENSIC AUDITING

TRAINING OVERVIEW

TRAINING TOPICS

• How to identify the profiles of the different fraudsters
• The anatomy of fraud and how to detect it.
• The fifty main fraud indicators
• The power of data analytics
• How to use powerful but relatively unknown tools such as Benford’s law and Markov chains

By the end of this training course, delegates 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.

TRAINING IS TAILORED TO

• 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 requiring a broader understanding of how to prevent and detect fraud.

TRAINING METHODOLOGY

The Forensic Auditing training course at DixonTech employs a dynamic and multifaceted approach, utilizing a range of proven learning techniques to maximize understanding, comprehension, and retention of the presented information. The methodology is designed for interactive and engaging learning experiences, incorporating various exercises and case studies that offer practical applications of the tools and techniques covered in the course. Participants will have access to a series of valuable tools and templates provided in electronic format, facilitating immediate application and integration into their professional environments. This comprehensive methodology ensures that attendees gain practical skills, fostering a proactive mindset for effective forensic auditing.

DAY ONE: 

ANATOMY OF FRAUD

• 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.
• Case studies and the key lessons

DAY TWO: 

THE KEY FRAUD INDICATORS

• Why controls may not protect you.
• Putting yourself in the mind of the fraudster
• The fifty 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

DAY THREE: 

DATA MINING – THE KEY FORENSIC TOOL

• 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

DAY FOUR: 

FORENSIC TECHNIQUES

• 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

DAY FIVE: 

USING THE INFORMATION IDENTIFIED

• 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