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Forensic Accounting and Financial Statement Fraud Analysis

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Date(s): Jun 04, 2018 - Jun 05, 2018
Time: 8:30AM - 5:00PM
Registration Fee: $349.00
Cancellation Date: May 29, 2018
Location: JOHN M. KEEL LEARNING CENTER
City: Austin

Course Description

This course is designed to provide an overview of financial statement and accounting fraud including how it is committed and the motivation behind it. The course will provide participants with the fraud knowledge and forensic accounting techniques necessary to identify accounting and financial statement fraud within their organizations. Real-life comprehensive fraud case studies and the forensic accounting and fraud examination techniques used to identify and quantify the frauds will be used throughout the course to further the learning process. Participants will work through fraud case study examples and exercises.

This interactive course will be taught through a combination of lecture, group exercises and class participation.


Potential CPE Credits: 16.0
Govt Hours: This class meets 16.0 hours of the 24-hour requirement for governmental CPE under Government Auditing Standards (yellow book), in most cases.
Technical Hours: This class meets 16.0 CPE credits of technical training in compliance with Texas Admin. Code Rule 523.102.

Instruction Type: Classroom
Experience Level: ALL
Category: Accounting

Course Objectives

Upon completion of this course, participants will be able to:

  • Recognize the most common financial statement fraud schemes
  • Identify the red flags of financial statement fraud
  • Detect fraud using forensic accounting and audit procedures
  • Understand the fraud implications of emerging issues in financial reporting
  • Understanding fraud fundamentals used to identify fraud within your organization.
  • Knowing and understanding the fraud tree schemes and identifying how they may manifest as fraud scenarios in your organization.
  • Understanding the characteristics of fraudsters to identify potential high risk departments or individuals.

Fraud Basics

  • The Fraud Triangle
  • ACFE 2014 Report to the Nation – Fraud & Corruption Statistics
  • Fraudsters – characteristics and behaviors

The Fraud Tree Schemes and Scenarios: Analysis and auditing techniques for identifying Red Flags and potential fraud in the following areas:

  • Corruption
  • Financial Statement Fraud
    • Improper Revenue Recognition
    • Concealed Liabilities and Expenses
  • Asset Misappropriation
  • Fraudulent Disbursements

Techniques for Financial Statement Analysis

  • Comparative Techniques
  • Ratios
  • Financial Relationships
  • Cash Flow

Understanding Trends and Patterns in Data

  • How to spot them
  • Understanding what the data is telling you
  • Red Flags versus changes in the business

Analytics and Forensic Accounting Techniques

  • Regression Analysis
  • Ratios
  • Benford’s Law
  • Benish M-Score Indicies
  • Reasonableness Testing
  • Damerau-Levenshtein - Fuzzy Logic

Example Data Analytics Techniques for:

  • Accounts Payable
  • Payroll
  • Inventory & Fixed Assets
  • Financial Statements

Investigations – Basics for conducting a fraud investigation

  • Planning and conducting an investigation
  • Analyzing Documents
  • Covert investigations
  • Sources of Information
  • Forensics
  • Useful resources for investigations

Prerequisites

No prerequisites required.

Who should attend?

Internal auditors, Internal Control Professionals and Accounting Staff and Management.


Instructors

Mary Breslin

Mary Breslin, CIA, CFE specializes in Internal Audit transformations, Operational and Financial Auditing, Fraud Auditing & Investigations, and Corporate Accounting.

Her career spans over 20 years in Internal Auditing, Management and Accounting for companies such as ConocoPhillips, Barclays Capital, Costco Wholesale, Jefferson Wells and Boart Longyear. With significant International experience, she has managed audit programs in more than 50 countries. Most recently, Ms. Breslin held the titles of Vice President and Chief Audit Executive where she transformed a checklist audit functions into a value add audit departments which regularly delivered measurable business results through the use of risk based auditing, data analytics, continuous education and skill development for her leadership team and staff. Through her senior audit leadership roles, Ms. Breslin has implemented numerous baseline internal audit functions and year-one Sarbanes-Oxley programs, both domestically and abroad.

Additionally Ms. Breslin has extensive Fraud Audit and Investigation experience and has conducted major fraud investigations on multiple continents including large scale federal cases domestically. She has developed and implemented fraud auditing programs in various industries focused on both accounting and operations.

Ms. Breslin attended Rutgers University and received her BS in accounting, and an MBA from the University of Phoenix while living and working overseas. She is a Certified Internal Auditor (CIA), and Certified Fraud Examiner (CFE). She maintains memberships in the IIA, and the Association of Certified Fraud Examiners and is currently a conference speaker for the IIA.


Additional Information

TAC Rule 523.142(g) requires the CPE Sponsor to monitor individual attendance and assign the correct number of CPE credits. Participants will be asked to document their time of arrival and departure in compliance with this Rule. Additionally, attendance will be monitored throughout the day and CPE certificates will reflect actual attendance of each participant.

If you are making travel plans to come to Austin, we recommend making "refundable" air and hotel reservations or waiting until 14 days before the class to actually book your reservations. Courses are occasionally canceled or rescheduled due to low enrollment. We determine whether a course has enough participants 16 days prior to the course date. If we cancel or reschedule, we will email the participant and his or her billing contact no later than 14 days before the original class date.

The course coordinator will contact you with parking information. Handicapped parking is free at the meters around the downtown area.

Vending machines with Coca-Cola products and various snack items are available. There is also a refrigerator and microwave in our coffee bar area. Feel free to bring in your own drinks and food if you prefer.

You might want to bring a light sweater or jacket, as room temperatures vary.

To see answers to our Frequently Asked Questions, visit http://www.sao.texas.gov/training/faq.html.


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