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
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
Prerequisites
Exposure to internal controls
Designed For
Any accounting or financial professional or auditor wanting to understand more about fraud evaluation
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
Preparation
None
Leader(s):
Leader Bios
Lynn Fountain, Business Professionals Network Inc ACPEN
Lynn Fountain has over 37 years of experience spanning public accounting, corporate accounting and consulting. 22 years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. In 2011, as the Chief Audit Executive for an international construction/ engineering firm, she was involved in the active investigation of a joint venture fraud. The investigation included work with the FBI and ultimately led to indictment of the perpetrators and recovery of $13M. Ms. Fountain is currently engaged in her own training and consulting business and is a regular trainer for the AICPA. Ms. Fountain is the author of three separate technical books. “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations” was published by the Institute of Internal Auditors Research Foundation. “Leading The Internal Audit Function” and “Ethics and The Internal Auditor Political Dilemma” were published by Taylor & Francis In addition, Ms. Fountain has performed as an adjunct instructor for the School of Business for Grantham University and developed the first internal audit curriculum for the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate (non-active).
Non-Member Price $115.00
Member Price $85.00