Fraud Evaluations: A Guide for The Compliance Professional

Overview

The topic of fraud continues to be on the radar of investors, shareholders, and regulators. Despite a Kroll Advisors survey showing a decrease of corporate fraud incidents in recent years, new fraud methods are continually being devised and identified thanks in large part to advances in technology and IT infrastructure.

Compliance professionals and auditors are not expected to have the expertise of forensic investigators but should have working knowledge of the aspects of fraudulent activities and maintain a skeptical mind when it comes to reviewing potential violations.

This course provides a practitioner’s perspective of what your company should include in their internal audit programs and processes to mitigate and avoid fraud. We’ll cover:

• The psychology of fraud and connection to the fraud triangle and fraud diamond
• The International Professional Practices Framework (IPPF) for internal auditors
• Employing the COSO 2013 towards fraud
• Rightsizing the internal audit team's responsibilities
• Risk assessment considerations
• Reporting procedures

Prerequisites

Exposure to internal controls

Objectives

• Identify the attributes of fraud
• Identify 5 Control Environment principles that can be connected to the need to evaluate for fraud
• Recognize how to utilize professional skepticism when evaluating for fraud

Highlights

• Psychology Dynamics
• COSO and Fraud
• Fraud Theories
• Opportunity Considerations
• Added Dimensions
• COSO Considerations
• Control Environment Principles
• Determining Internal Audit's Role
• Understand the Business
• Auditors and the IPPF
• When Management Objects & Potential Steps