10 Topics
5 Days
50 Sessions
Programme Overview
Training Description
• Internal and External Auditors
• Forensic Auditors and Fraud Examiners
• Risk Management and Compliance Officers
• Finance, Accounts and Treasury Officers
• Investigators and Legal/Prosecution Support Officers
• Procurement and Contract Management Officers
• Audit Committee Members and Board Members
• Ethics and Integrity Officers
• IT Auditors and Cybersecurity Officers
• Law Enforcement and Regulatory Agency Officers
Session Objectives
- • Understand the nature, drivers and impact of fraud, including the Fraud Triangle, Fraud Diamond and relevant professional standards for forensic auditing and fraud examination.
- • Conduct a structured fraud risk assessment, identifying fraud risk factors, vulnerable processes and control weaknesses across an organization.
- • Apply proactive fraud detection techniques, including red-flag indicators, data analytics and continuous monitoring, to identify irregularities and anomalies.
- • Plan and conduct forensic audits and fraud investigations, including evidence gathering, chain of custody and forensic interviewing techniques
- • Investigate specific fraud schemes such as procurement fraud, financial statement fraud, asset misappropriation, payroll fraud and cyber-enabled fraud.
- • Document findings and prepare forensic audit reports and expert evidence that withstand scrutiny in disciplinary, civil or criminal proceedings, and design fraud prevention and deterrence measures.
About the Course
Fraud and financial crime continue to erode organizational value, public resources and stakeholder trust, often evading detection by traditional audit approaches. This comprehensive training course on Forensic Auditing, Fraud Risk Assessment & Detection equips participants with the specialised knowledge and practical skills needed to identify fraud risk, design and apply fraud detection procedures, and conduct forensic investigations that produce credible, legally defensible evidence. Participants will learn how to assess fraud risk using recognised frameworks, apply data analytics and red-flag indicators to detect irregularities, conduct forensic interviews and evidence gathering, and report findings in a manner that supports disciplinary, civil or criminal action. The course combines audit methodology, investigative technique and practical case studies to strengthen organizational capacity to prevent, detect and respond to fraud.
Curriculum & Topics
10 Topics | 50 Sessions
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Workshop 1.1:
• Defining fraud, forensic auditing and fraud examination; distinguishing forensic audit from financial and internal audit.
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Workshop 1.2:
• The Fraud Triangle, Fraud Diamond and behavioural drivers of fraudulent conduct.
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Workshop 1.3:
• Overview of professional standards: ACFE Fraud Examiners Manual, ISA 240 and related guidance.
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Workshop 1.4:
• Legal and regulatory framework governing fraud, financial crime and forensic evidence.
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Workshop 1.5:
• Roles and responsibilities of management, auditors, investigators and legal counsel in fraud matters.
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Workshop 2.1:
• Conducting an organization-wide fraud risk assessment using recognised frameworks.
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Workshop 2.2:
• Identifying inherent fraud risk factors across people, processes, technology and third parties.
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Workshop 2.3:
• Mapping fraud risks to business processes: procurement, payroll, revenue, expenditure and treasury.
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Workshop 2.4:
• Assessing the design and effectiveness of anti-fraud controls.
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Workshop 2.5:
• Developing and maintaining a fraud risk register and fraud risk heat map.
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Workshop 3.1:
• Common red flags and behavioural, financial and transactional indicators of fraud.
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Workshop 3.2:
• Using data analytics, Benford's Law and anomaly detection to identify suspicious transactions.
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Workshop 3.3:
• Horizontal and vertical analysis, ratio analysis and trend analysis for fraud detection.
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Workshop 3.4:
• Whistleblowing mechanisms, hotlines and tip-based detection.
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Workshop 3.5:
• Continuous monitoring and technology-enabled fraud detection tools.
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Workshop 4.1:
• Common procurement fraud schemes: bid-rigging, collusion, ghost vendors and split purchases.
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Workshop 4.2:
• Red flags in tender specifications, bid evaluation and contract award processes.
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Workshop 4.3:
• Auditing vendor master files, related-party transactions and conflicts of interest.
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Workshop 4.4:
• Investigating overbilling, substandard delivery and fictitious contracts.
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Workshop 4.5:
• Case studies in procurement and contract fraud detection.
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Workshop 5.1:
• Techniques of financial statement fraud: revenue recognition, expense manipulation and off-book transactions.
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Workshop 5.2:
• Detecting earnings management and manipulation of key financial ratios.
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Workshop 5.3:
• Common asset misappropriation schemes: cash theft, inventory fraud and payroll fraud (ghost workers).
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Workshop 5.4:
• Auditing journal entries and management override of controls.
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Workshop 5.5:
• Case studies in financial statement fraud detection.
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Workshop 6.1:
• Overview of cyber-enabled fraud: phishing, business email compromise and payment diversion.
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Workshop 6.2:
• Digital evidence: identification, preservation and chain of custody principles.
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Workshop 6.3:
• Basic digital forensic techniques and tools relevant to auditors and investigators.
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Workshop 6.4:
• Data privacy, legal admissibility and handling of electronic evidence.
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Workshop 6.5:
• Coordinating with IT and cybersecurity teams during fraud investigations.
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Workshop 7.1:
• Initiating an investigation: predication, scoping and investigation planning.
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Workshop 7.2:
• Evidence gathering techniques: document review, tracing transactions and reconstructing records.
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Workshop 7.3:
• Interviewing techniques for witnesses, suspects and whistleblowers.
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Workshop 7.4:
• Maintaining objectivity, confidentiality and legal privilege during investigations.
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Workshop 7.5:
• Coordinating with legal counsel, HR and law enforcement agencies.
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Workshop 8.1:
• Principles of evidence collection, preservation and chain of custody.
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Workshop 8.2:
• Documenting findings in working papers to withstand legal and disciplinary scrutiny.
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Workshop 8.3:
• Distinguishing direct, circumstantial and corroborative evidence.
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Workshop 8.4:
• Common pitfalls that compromise evidence admissibility.
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Workshop 8.5:
• Preparing evidence files for handover to legal, disciplinary or law enforcement processes.
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Workshop 9.1:
• Structuring forensic audit reports for legal, disciplinary and management audiences.
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Workshop 9.2:
• Quantifying financial loss and preparing loss quantification schedules.
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Workshop 9.3:
• Presenting findings clearly, objectively and defensibly.
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Workshop 9.4:
• Preparing for and giving expert or witness testimony in disciplinary and legal proceedings.
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Workshop 9.5:
• Managing communication with stakeholders, media and regulators during sensitive investigations.
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Workshop 10.1:
• Designing and strengthening the anti-fraud control environment.
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Workshop 10.2:
• Developing fraud policies, codes of conduct and whistleblower protection mechanisms.
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Workshop 10.3:
• Embedding fraud awareness training and an ethical organizational culture.
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Workshop 10.4:
• Post-investigation remediation: control improvements and recovery of losses.
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Workshop 10.5:
• Monitoring and measuring the effectiveness of fraud prevention programs.
