Every organization faces the risk of financial loss due to both intentional fraud and errors in complex, sophisticated systems dependent on large scale databases.Obtaining an in-depth knowledge of fraud and how it can be detected and prevented is essential to maintaining the financial integrity of any organization, large or small.By implementing a robust forensic audit capability within an organization, it will help protect the firm from the influences of hidden error, crime, fraud, and corruption.
This course is an overview of the issues involved with understanding the concept of forensic audit, how to conduct a forensic audit, and the importance of conducting risk-based forensic audits to identify, and the importance of having a robust forensic audit program.
By the end of this course, participants will be able to:
- Explain the increasing importance of fighting fraud within the organization
- Identify the functions a forensic audit serves
- Understand the various roles the auditor must assume in conducting a forensic audit
- Explain common fraud schemes and determine the best internal control measures to counteract the fraud risk
- Identify indicators for heightened fraud risk and assess risks present through internal control deficiencies
- Apply various evidence-gathering techniques used to detect fraud
Program Level: Foundational
Advance Preparation: None
Computers and Financial Calculators: N/A
Recommended CPE Credits: 7