Uncovering Fraud in Core Business Functions

Introduction

§In this three-day seminar you will pinpoint the area’s most prone to internal fraud and identify key indicators of potential crime. You will focus on the expenditure , revenue/cash receipts , treasury , contract , inventory , travel expense , contract , payroll and HR , computer , marketing , and outsourced functions as targets for fraud and high-payback audits 22 CPEs. Keywords : executive , executives , management , investigating fraud , fraud detection , fraud schemes , misappropriation , money laundering , bribery , corruption .

Seminar Focus and Features

§ Core business functions offer abundant opportunities for undetected fraud. In this eye-opening, three-day seminar you will pinpoint the area’s most prone to internal fraud and identify key indicators of potential crime. You will focus on the expenditure, revenue/cash receipts, treasury, contract, inventory, travel expense, contract, payroll and HR, computer, marketing, and outsourced functions as targets for fraud...and high-payback audits.

§ You will cover the methodologies used by those who would do you harm and focus on the red flags that signal the need for an investigation. You will learn how to implement and develop audit procedures that will increase the likelihood of discovering fraud. Throughout this seminar, case studies will illustrate and enhance what you learn.

Who Should Attend

§ Financial, Operational, IS, and External Auditors; Audit Managers; Corporate Attorneys; and Information Security professionals

Outlines & Agenda

§ Understanding Fraud

-what constitutes fraud - awareness, theory and methodology factors

-understanding the fraud sophistication factor & incorporating the fraud audit matrix

§ How to Conduct Fraud Audits

-building the fraud audit program - linking the audit program to risk assessment

-identifying fraud audit procedures - linking the sampling approach to the fraud risk

-testing and evaluating the design of anti-fraud controls

§ Fraud in the Disbursement Function

-false billing - pass through billing

-overbilling - disguised billing

-conflict of interest - front companies: how and why

-red flags and data mining for schemes

§ Fraud Controls in Core Business Systems

-understanding fraud control concepts & determining your organization’s risk appetite

-sophistication of concealment related to controls & gate keeper’s unique opportunity

-control inhibitors

§ Data Mining for Fraud

-building the fraud profile - using data mining techniques

-designing data analysis routines - data analysis in the interview process

-analyzing key master files for fraud

§ Fraud in the Procurement Office

-favored vendors - where & how influence occurs in procurement fraud - vendor bid-rigging schemes

§ Fraud in Payroll and Human Resources

-ghost employee schemes - avoidance of government regulations

-overtime fraud - time reporting schemes

-payroll office fraud & characteristics of fraudulent departments and employees

-data mining and audit procedures for each type of ghost employee

§ Travel Expense Fraud

-understanding the reasons - concealment techniques for travel fraud

-data mining and sampling considerations & types of fraud

§ Fraud in Contracts

-discuss contract audit process - building arguments to support your position

-progress payment fraud - non-conforming material scheme

-defective pricing scheme - cost mischarging scheme

-where opportunities exists - understanding the profit motive

-false claims act

§ Fraud in Sales and Cash Receipts

-Skimming - theft of product for resale

-theft of cash receipts - lapping and embezzling in accounts receivable

-customer fraud schemes - underst