Webinar

The Common Sense Approach to Auditing for Fraud

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As reported by the Association of Certified Fraud Examiners 2024 Report to the Nations on Occupational Fraud and Abuse, organizations lose an average of 5% of their revenues to fraud. Yet, the report disclosed that only 3% of all frauds are detected by the external auditor. However, the thing that management depends on the detect fraud is the external audit. To detect fraud an auditor must: Know what fraud looks like; be able to think like a thief; always maintain healthy professional skepticism; be able to recognize the risk of fraud; and build your audit program to look for fraud. Auditing For Fraud addresses each of these areas as well as several others. During this presentation, I will discuss how to distinguish between an error and a fraud; how to recognize the indicators of fraud; develop and refine a hypothec as to how a fraud was committed; who steals (the basic honest person) and why and lastly; how to prove intent. If you cannot prove intent, all you have is a dumb mistake! Chances are that after this presentation, you will never look at an audit the same way you do now.

Major subjects

• Occupational Fraud.
• Professional Skepticism.
• Fraud Indicators.
• Error vs. Fraud.
• Fraud Risk.
• Fraud Hypothesis Development.
• Fraud Intent.

Learning objectives

• Explain the prevalence and impact of occupational fraud in organizations.
• Differentiate between an error and fraudulent activity in financial records and transactions.
• Recognize common indicators and risk factors of fraud during an audit.
• Apply professional skepticism and a fraud-focused mindset when conducting audits.
• Develop and refine hypotheses about how a fraud may have been committed.
• Identify common perpetrator profiles and motivations behind occupational fraud.
• Explain the importance of proving intent when determining whether fraud has occurred. Explain how asset misappropriation occurs within organizations.

Who should take this program?

• External and Internal Auditors, Fraud Examiners.

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $109.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.

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