Course Information
Auditing for Accounting Fraud
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, case studies, group exercises, and class participation.
Course Objectives
Upon completion of this course, participants will be able to:
• Recognize the most common accounting fraud schemes
• Identify the red flags of accounting fraud
• Detect fraud using forensic accounting and audit procedures
• Understand the emerging issues and the fraud implications in financial reporting
• Understand fraud fundamentals used to identify fraud within your organization
• Know and understand the fraud tree schemes and identifying how they manifest as fraud scenarios in your organization
• Understand the characteristics of fraudsters to identify potential high-risk departments or individuals
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
• Financial Statement fraud – Improper revenue recognition
• Financial Statement fraud – 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
• Accounts payable
• Payroll
• Inventory and fixed assets
• Financial statements
Investigations—The Basics of Conducting a Fraud Investigation
• Planning and conducting an investigation
• Obtaining and analyzing information
• Forensics
• Useful resources for investigations
Instructors
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.