Fraud among corporations is a very common threat that may incur massive financial losses, legal issues, and distrust among stakeholders. Technology is growing sophisticated and prevalent in white collar crimes such as embezzlement and money laundering. This finance training course aims to provide professionals with details and the skills to effectively detect and prevent corporate fraud. With a detailed understanding of forensic accounting and auditing techniques, the participants will be more prepared to deal with the complexity of modern financial crimes and protect their businesses.
The Oxford Training Center will equip you with the fundamental techniques of forensic accounting and fraud investigation. You’ll discover how to identify questionable transactions, use a forensic perspective to examine financial data, and investigate disparities further. To provide findings that are understandable, reliable, and prepared to support action, you will also develop your interviewing, documentation, and reporting skills.
Objectives and target audience
Objectives
This training equips you with the skills necessary to identify, look into, and record fraud and shield your company from financial loss.
You’ll discover how to:
- Identify typical forms and trends of occupational fraud.
- Recognize the phases of a fraud investigation.
- Follow transactions to find unreported financial activities.
- Utilize forensic methods to examine documents and declarations.
- Interview people to uncover facts and discrepancies.
- Keep a clear and convincing record of your results.
- Determine the control weaknesses that allow fraud.
- Encourage more effective fraud prevention measures.
Target audience
- Internal auditors seeking to improve their ability to identify fraud
- Financial experts overseeing transactions or budgets
- Compliance officers keeping an eye on moral and legal issues
- The proper use of donor monies is ensured by NGO financial professionals.
- Corporate accountants looking into irregularities in finances
- Risk managers spotting shortcomings in controls
- Financial crime investigators
- Government auditors examining the financial records of the public sector
- Teams from HR and legal are conducting internal investigations.
- Any expert in charge of financial supervision
How will attendees benefit?
Knowing how fraud operates makes you a more astute and reliable financial expert.
You’ll:
- Develop your analytical and research abilities.
- Increase your self-assurance when examining financial data.
- Develop your capacity to recognize warning signs.
- Create reports that the legal and leadership teams can utilize.
- Become more credible in positions related to audit, compliance, and finance.
- Get ready for a career in risk and fraud prevention.
- Make a statement as someone who defends the company.
Course content
Module 1
Recognizing Fraud and Its Effects
- Fraud types include financial statement fraud, corruption, and asset theft.
- Reasons for fraud: The fraud triangle
- Examples of real-world cases and what went wrong
- The price of fraud to communities and businesses
- The function of forensic accountants and fraud examiners
Module 2
Fundamentals of Fraud Examination
- Procedures for conducting a fraud investigation
- The best time and method to start an examination
- The responsibilities and moral limits of fraud examiners
- collaborating with HR, legal, and compliance
- Keeping things impartial and private
Module 3
How to Spot Fraud
- Early warning signs and risk indicators for common behaviors
- Examining patterns in payroll, procurement, and spending reports
- Making use of transaction monitoring and exception reporting
- Mechanisms for internal tips and whistleblowers
- Developing systems that automatically detect anomalies
Module 4
Basics of Forensic Accounting
- Rebuilding the timings of transactions
- Looking for manipulation in financial statements
- Recognizing fraudulent invoices and shell companies
- Finding irregularities in bank statements
- Connecting paperwork to asset use and cash flow
Module 5
Interviewing People and Getting Statements
- Organizing interviews to obtain data, not only admissions
- Questions that are open or closed
- Managing deflection, denial, and resistance
- Developing a relationship while maintaining objectivity
- logging and compiling answers for proof