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Auditing for Accounting Fraud

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Date(s): Aug 21, 2019 - Aug 22, 2019
Time: 8:15AM - 4:30PM
Registration Fee: $299.00
Cancellation Date: Jul 15, 2019
Location: JOHN M. KEEL LEARNING CENTER
City: Austin

Course Description

This course will provide an overview of accounting fraud, including how it is committed and the motivation behind it. Participants will gain 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
Technical Hours: This class meets 16.0 CPE credits of technical training in compliance with Texas Admin. Code Rule 523.102.

Instruction Type: Live
Experience Level: ALL
Category: 02 Auditing

Course Objectives

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

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

 

Outline

Fraud Basics

  • Definitions of fraud
  • The fraud triangle
  • ACFE 2018 Report to the Nations
  • Fraudsters—characteristics and behaviors

The Fraud Tree Schemes and Scenarios: Analysis and auditing techniques for identifying red flags and fraud in the following areas:

  • Corruption
  • Accounting 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 vs. changes in the business

Analytics and Forensic Accounting Techniques

  • Regression analysis
  • Ratios
  • Benford’s law
  • Beneish M-Score
  • Reasonableness testing
  • Damerau-Levenshtein—fuzzy logic

Example Data Analytics Techniques for:

  • Accounts payable
  • Payroll
  • Inventory and fixed assets
  • Financial statements

Investigations—The Basics of 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.

Instructors

Mary Breslin

Mary Breslin is the Founder of Verracy Training & Consulting and specializes in Internal Audit transformations, Operational and Financial Auditing, Fraud Auditing & Investigations, and Corporate Accounting.

Ms. Breslin’s 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 title of Vice President and Chief Audit Executive where she transformed a checklist audit function into a value-add audit department 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.

Mary was an early adopter of analytics for audit and has been utilizing data analytics in her career in both audit and fraud work for over 15 years. She has transformed the capabilities of audit functions using data analytics programs using ACL, IDEA and Arbutus Analyzer. Through her expertise and guidance, she has helped large global organizations leverage analytics to significantly increase coverage, automate continuous auditing and monitoring, and actively fight fraud.

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 Institute of Internal Auditors (IIA), American Institute of Certified Public Accountants (AICPA), ISACA, the Society of Corporate Compliance (SCCE), and the Association of Certified Fraud Examiners (ACFE) and is currently an instructor and conference speaker for the IIA, The ACFE and ISACA.


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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