National Institute of Technology

Auditing for Internal Fraud

ACCOUNTING & FINANCIAL MANAGEMENT PROGRAMS 3

AUDITING FOR INTERNATIONAL FRAUD


Duration3 Days
  
Course Style & AssessmentsHighly Participative with 70% practical application and 30% theory coverage and Participants’ Practical tasks assessed through Presentations
  
  BenefitsPractical skills and knowledge, stimulating, meals and refreshments, presentations, materials, certificate of attendance and Free two-months support service.

SPECIAL SERVICES FOR OUR INTERNATIONAL DELEGATES

In addition to the above listed benefits, the NIT Corporate Training and Events Management team will provide the following to our international delegates:

  • Facilitation for entry Visas where required
  • Transport from and to the International Airport on arrival and when going back
  • Accommodation reservations
  • Transport for shopping where needed
  • Transport, accommodation and meals to tour one of our Namibia’s beautiful Destinations (Coastal Towns -Swakopmund and Walvis Bay OR Etosha National Park
  • A Notepad/Tablet.

AUDITING FOR INTERNATIONAL FRAUD


Introduction

As an auditor, finding fraud is part of your professional responsibility. Auditing for Internal Fraud will help you develop and sharpen your existing skills and teach you the techniques necessary for effective fraud detection. During the two-day course, you will explore the challenges that auditors traditionally face in identifying fraud and learn the fundamentals of auditing for fraud, with an emphasis on understanding the common schemes, detection techniques and methods of preventing occupational fraud.

All the National Institute of Technology (NIT) training programmes have been developed by the industry experts to suit the needs of the industry and are aligned with the fundamental National Developmental Plans Goals of Namibia and those of all other SADC member countries thus effectively contributing towards the national and SADC regional economical, industrial and prosperity developments. Our course programs and delivery styles are very stimulating with practical based contents. They provide modern hands-on relevant skills and knowledge that empower all participants at all levels of every organization to practically apply the gained skills and knowledge in their respective duties without difficulties hence being productive, respected and valued by every employer and colleagues. Participants are assessed through group and/or individual tasks which involve presentations.

NIT provides 2 months Free Support service to all the participants to support them in implementing or using the skills and knowledge gained from any of our course programs.

AUDITING FOR INTERNATIONAL FRAUD


Objectives

Identify the types, costs and red flags of common internal fraud schemes, including:

  • Financial statement fraud
  • Bribery and corruption
  • Asset misappropriation
  • Recognize the auditor’s fraud-related responsibilities in audit engagements and avoid potential malpractice
  • Identify and avoid the obstacles auditors often face in finding fraud
  • Define and strengthen the traits necessary to apply processional skepticism
  • Employ strategies to overcome bias during audits
  • Effectively assess an organization’s fraud risks
  • Apply data analysis techniques to find fraud
  • Implement mechanisms to prevent occupational fraud

AUDITING FOR INTERNATIONAL FRAUD


Who Should Attend

The professionals who will most benefit from the course are Internal and External Auditing and Accounting Practitioners and Professionals. The following will particularly benefit from this training too:

  • Controllers and corporate managers
  • CPAs, CAs or equivalent
  • Forensic and management accountants
  • Internal and external auditors
  • Certified Fraud Examiners and other anti-fraud professionals

AUDITING FOR INTERNATIONAL FRAUD


1.0 Introduction to Auditing for Fraud

In this opening session, you will learn what fraud is (and what it isn’t), the impact of fraud on organizations, red flags that might indicate the presence of fraud and how to proactively plan the audit to detect fraud.

2.0 Understanding Auditors’ Fraud-Related Responsibilities

This session will cover the professional standards that define the responsibilities of both external and internal auditors with regard to fraud detection and prevention. It will also explore the auditors’ ethical obligations related to fraud.

3.0 Where Were the Auditors?

History is full of stories of large frauds that slipped by the auditors’ watch. In this session, you will discuss critical skills that are needed to effectively detect fraud during an audit, the expectations gap, and other challenges that often hinder auditors’ effectiveness in detecting fraud. You will also explore some real-life examples of frauds that were missed by the auditors.

4.0 Enhancing Skepticism and Overcoming Bias

Professional skepticism forms the foundation of effective fraud detection during an audit. But what does a skeptical mindset look like in practice? In this session, you will learn about the traits and characteristics that are required to exercise professional skepticism, as well as how to overcome challenges in doing so. You’ll also discuss numerous forms of bias that auditors often inadvertently bring to an engagement and ways to proactively minimize the effects of those perspectives.

5.0 Conducting a Fraud Risk Assessment

This session will explore the reasons for conducting fraud risk assessments and what makes a fraud risk assessment successful. It will also cover how to develop and execute an effective fraud risk assessment as part of an audit and how to report and use the results of the assessment to make an impact within the organization.

6.0 Finding Fraud Using Data Analytics

As the amount of data generated by organizations has increased, so has the importance of data analytics to the audit and fraud detection processes. In this session, you will learn about different types of data analysis techniques and how to apply them to uncover the red flags of fraud. You will also explore how to implement a formal data analysis process, beginning with proper planning and preparation, to ensure the results are as meaningful and accurate as possible.

7.0 Financial Statement Fraud and Corruption

In order to detect fraud during an audit, the auditor must be thoroughly familiar with the methods used by fraudsters. This session covers the two most costly forms of fraud: financial statement fraud and corruption. You will learn about common financial statement manipulation and corruption schemes employed by fraudsters, their red flags and methods to detect them.

8.0 Asset Misappropriation

This session is spent discussing schemes used by fraudsters to steal cash and other assets from their employer. You will learn about schemes involving skimming, cash larceny, check tampering, false billing, fraudulent register disbursement, expense reimbursements, payroll, inventory theft and asset misuse.

9.0 Interview Techniques

There is more to auditing for fraud than reviewing source documents and schedules. Fraud examiners might need special training in effective communication techniques, such as how to craft appropriate interview questions and how to spot signs of deception. That’s what you’ll learn in this session, and more.

10.0 Prevention of Occupational Fraud

Auditors can provide valuable help to organizations in designing an effective fraud prevention program. This session introduces you to key fraud prevention approaches and provides you with practical solutions to help your organization or your client reduce its losses due to fraud

METHODOLOGIES

  • Pre and Post Assessment
  • Power point presentation
  • Highly interactive session
  • Case study
  • Group discussion
  • Group presentation

AUDITING FOR INTERNATIONAL FRAUD


How to Register for this Training

To register, please complete the attached registration form and e-mail or fax it back with proof of payment to: The Conference Organizing Committee; contact Person: Mr. Frederick Chizu Simpungwe at:

  1. E-mail:info@nit-edu.org
  2. Fax No.: +264 886559294 & Cell:+264 81 3294977

We also have Conference Sponsorship and Exhibition Opportunities. If your organization is interested to sponsor or exhibit at this important conference, please contact the office on info@nit-edu.org

Please find attached herewith a registration form with rates and the conference draft program. If you need any further information, please feel free to contact the undersigned.

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