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
Notice
This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).
Leader(s):
Leader Bios
Lynn Fountain, Lynn A Fountain
Lynn Fountain has over 40 years of experience spanning public accounting, corporate accounting and consulting. 20 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. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigated by the FBI and resulted in five indictments amounting to close to a $13 million fraud loss. Lynn is currently engaged in her own consulting and training practice. She has assisted numerous companies with enterprise risk management frameworks, internal audit processes and financial accounting. She is a highly sought after speaker and has trained internationally. In addition to her personal training, she also serves as a discussion leader for the AICPA for numerous classes. Lynn is the author of three separate technical books released in 2015, The first entitled “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”, published by the Institute of Internal Auditors Research Foundation and released in April 2015. Her second book “Leading The Internal Audit Function” was released in October 2015 by Taylor & Francis Publications. This book serves as the initial launch for a series of leading practice internal audit and information technology publications. In addition, her third book “Ethics and the Internal Auditor’s Dilemma” was released in December 2016. 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-Member Price $115.00
Member Price $85.00