Introduction

Corporates frauds have the inherent power to bring large organizations to their knees, cause huge monetary loss, prompt lawsuits followed by significant legal expenses, lead to the imprisonment of employees and deteriorate the confidence in the market, in governments and in institutions.

While developments in the business world, especially on the technological front have accelerated the evolution of various industries, it has also engendered the evolution in white-collar crime especially corporate fraud. The destructive repercussions of corporate fraud have been felt across governmental bodies and companies irrespective of the industry they belong to.

In response, corporations and governments across the globe have stepped up their effort to inspect, prevent and penalize fraudulent practices; resulting in a greater emphasis for the domains of forensic auditing and accounting in the current economy.

Since corporate fraud is frequently disguised as legitimate transaction hidden behind existing business practices, it may at times prove difficult to detect and prevent completely. Yet through effective procedures and process, routine inspections, and frequent upgrades to the training of personnel, organizations and governments can effectively deter corporate fraud and counter its consequences.

Duration

• 5 days

Who should attend

• Directors, board members, chief financial officers and other members constituting the top management of an organization – to thoroughly understand critical aspects of corporate fraud, forensic auditing and accounting.
• Auditors and financial professionals responsible for ensuring transparency and integrity of processes and accounting records.
• Bookkeepers and accountants who are in charge of maintaining the books of account and day to day financial transactions pursuing promotion
• Shareholders and investors who are part of or want to be part of a firm’s delivery and function
• Legal professionals responsible for and involved in preparing contracts and other legal notices and agreements to this effect.
• Risk managers and consultants providing services in forensic auditing and accounting domain

Course Objectives

• Fundamentals of accounting practices and financial statement analysis.
• An overview of the forensic accounting legal environment
• An understanding of the forensic accountant’s responsibility, forensic accounting and fraud examination
• In-depth study of the procedures in fraud detection including:
  • Methodologies to identify and categorize fraudulent practices
  • Various approaches to the collection of evidence
  • Fraud investigation procedures
  • Reporting, and the recovery procedure following legal prosecution
• Business valuation strategies
• Knowledge to plan and strategize viable frameworks and procedures for fraud detection and prevention
• The essential expertise and to become a more effective and efficient forensic auditing and accounting investigator/overseer

Course Outline

Module 1 – introduction to forensic accounting and fraud examination

• Fundamentals of accounting practices
• The essentials of forensic examination
• Responsibilities of accounting investigators and auditors
• The forensic accounting legal environment

Module 2 – understanding corporate fraud

• Synopsis of white-collar crimes
• Overview of effective fraud investigation
• Types of corporate fraud
• Psychology of the fraudster profile
• The fraud triangle theory
• Implications of corporate fraud to internal and external stakeholders

Module 3– examination of financial statements and analytical techniques

• Scope and types of financial statement frauds
• Analysis of financial statements and audit reports
• Horizontal and vertical analysis
• Financial ratio analysis
• Anomaly detection to identify nonconformities

Module 4 – the fraud investigation and engagement processes

• Techniques for recognizing the symptoms of fraudulent behaviour
• Review of the investigation process and case initiation
• Evidence collection techniques–
  • Gathering & assessing observational evidence
  • Gathering & assessing financial evidence
  • Gathering & assessing non-financial evidence

Module 5 – data compilation and analysis

• Importing & analyzing data utilizing ms office tools
• Root cause analysis (rca) of corporate fraud
• Understanding the analysis of data based on newcomb-benford’s law
• Overview of data-driven fraud analysis techniques
• Evaluating the extent and scope of fraudulent practices

Module 6 – reporting of findings and analysis

• Auditor responsibility and reporting standards
• Forensic audit report template
• Risk assessment and reporting
• Business valuation and damages reporting

Module 7- fraud prevention

• Examining the existing internal control environment
• Understanding the coso model (“internal control-integrated framework”)
  1. Control environment
  2. Risk assessment
  3. Control activities
  4. Information & communication
  5. Monitoring

Module 8- deterring corporate fraud

• Identifying organizational tolerance to risk and improvement of internal controls
• Formulating a critical fraud response strategy
• Developing an anti-fraud program

Module 9 – effective functioning within an organizational framework

• Aligning objectives and expectations with key decision-makers
• Effectively communication of objectives to relevant personnel
• Cooperating with internal and external auditors
• Working alongside other legally trained departments such as compliance, legal and ethical committees.

Methodology

The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

All facilitation and course materials will be offered in english. The participants should be reasonably proficient in english.

Accreditation

Upon successful completion of this training, participants will be issued with intensive training institute (iti) certificate certified by the national industrial training authority (nita).

Training Venue

The training will be held at ITI training centre. The course fee covers the course tuition, training materials, two break refreshments and lunch.

All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.

Accommodation and Airport Pickup

Accommodation and airport pickup are arranged upon request. For reservations contact the training officer.

• Email:info@intensivetraining.co.ke
• Mobile: +254 727324901

Tailor- Made

This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our iti training centre or at a convenient location.

Course Fees

• One on one training -kes 80,000 / usd 1100
• Virtual training -kes 65,000/usd 850

Payment

Payment should be transferred to iti account through bank on or before course start date.

Send proof of payment to info@intensivetraining.co.ke

For further inquiries, please contact us on:

• Tel: +254 727324901
• Email: info@intensivetraining.co.ke