Training Objectives

This seminar will offer participants information on numerous fraud schemes and an understanding of how to assess the fraud risk, how to recognise ”red flags”, how to investigate and write the fraud audit reports using practical and real-life examples.

Participants will learn how to adopt a more critical sceptical mind-set on their engagements, particularly during audit planning and the evaluation of audit evidence. Following the seminar, participants will approach fraud risks with a more sceptical attitude and questioning mind.

Training Outline

• Definition of Fraud
• The role and responsibilities of Internal Auditors

– Standards for the Professional Practice of Internal Audit

• Tools for the fraud risk assessment
• Types of Fraud
• Characteristics of the perpetrator
• Common myths about fraud
• Fraud indicators
• Common fraud schemes

– theft, misappropriation of assets, purchase and invoicing, payroll, expenses, inventory and other property

– information theft, bribing, conflict of interest, financial statement fraud, money laundering

• Senior Management Fraud
• Electronic Fraud
• Planning the Fraud investigation
• Interviewing techniques
• Fraud audit report
• Fraud and internal control systems
• Policies and programs for the deterrence of Fraud
• Strategy for the deterrence of Fraud
• Fraud cases and control for prevention
• Presentation and analysis of a real Fraud Audit Report

Who Should Attend

• Professionals of all levels working in Internal Audit Units (inspectors, internal auditors, officers)
• Professionals employed in Compliance Units
• External auditors
• Audit Committee members
• Security professionals
• Risk Management analysts
• Line Managers and generally officers that are experienced in Internal Control Systems

Training Style

The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, case-studies, practical examples, real-life simulations. Participants will also benefit from customised feedback  at the end of the programme and take away the knowledge gained to be transferred to their workplace.

Most of the training’s time will be invested in analysing a real-life case study that will help participants understand how to solve problems in similar occasions.

CPD Recognition

This programme may be approved for up to 7 CPD units in Internal Audit. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

In-house Training

For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.