IT Audit, Forensic Audit & Fraud Prevention Training

IT Audit, Forensic Audit & Fraud Prevention Course 

Every organization faces the risk of financial loss due to fraud, but maintaining an effective audit function can help mitigate that risk. Auditors, both external and internal, must have a thorough knowledge of fraud detection and prevention to effectively fulfill their mission. Additionally, one of the best measures that any organization can take to mitigate the loss associated with fraud is to equip employees with the skills and techniques needed to detect and prevent it. Maintaining an in-depth knowledge of fraud and how it can be detected and prevented is essential to maintaining the financial integrity of any organization, large or small.

Expected Training outcomes.

By the end of the course, participants will be able to:

• Define the various types of fraud related to computers and IT
• Identify the types of antifraud controls and rate their effectiveness
• Analyze a variety of documents to identify information relevant to a forensic investigation.
• Plan and conduct forensic accounting and auditing investigations that are consistent with current and accepted principles and practices of forensic investigation.
• Develop an investigative methodology grounded in a conceptual framework and consistent with accepted forensic techniques.
• Identify the generally accepted accounting principles and the generally accepted auditing standards when analyzing and interpreting financial statements.
• Work in compliance with professional rules of conduct, ethical codes, industry standards and relevant legislation.
• Situate work as a forensic investigator within the context of the
• Locate, assess, analyze, interpret and report data using computer applications.
• Communicate financial reports and investigative findings clearly and accurately, both orally and in writing, adapting reports to a variety of audience needs and contexts.
• Interact with individuals and groups to support client relationships and maintain effective working relationships.
• Interview individuals and small groups to collect information relevant to a forensic investigation.
• Evaluate the risk of criminal behavior based on an interpretation of both psychosocial determinants for fraud, as well as trends in the industry.
• Identify and apply discipline-specific practices that contribute to the local and global community through social responsibility, economic commitment and environmental stewardship.

Course Methodology

The course uses a blend of instructor’s presentations, individual and group exercises and participants working on real life case studies and applying analytical software’s.

Training Modules

Fundamentals of Forensic Auditing

• Building Background
• Key Terms Defined
• When Does an Audit Become a Forensic Audit?
• Functions of a Forensic Audit
• The Evolution of Forensic Auditing

Computer Fraud and Control

• Definition of computer fraud
• Fraud opportunities
• Nature of computer fraud
• Opportunities in advanced technology
• Internet fraud
• Stopping the hackers
• What is predication and how does it work

Abilities of the IT Fraud Auditor

• Goals and objectives of the IT fraud auditor
• What makes a good IT auditor
• Finding the right auditor
• Progression of the fraud examination
• The auditor’s toolkit

Forensic Auditor: The Investigator

• Forensic Auditor: The Analyst
• Legal Roles of the Forensic Auditor
• The Fraud Triangle
• The Three Types of Fraud
• The Nature of Fraud
• Challenges to Detecting Fraud
• Attributes of Most Frauds
• Profile of a Fraudster

Fraud and Terrorism

• Scope of Fraud Losses, Government Improper Payments, and Fraud Enablers
• Federal Laws, Internal Controls, and Audit Standards Relating to Fraud
• Key Legislation to Combat Fraud, Waste, and Mismanagement
• Generally Accepted Government Auditing Standards (GAGAS)US Government Accountability Office (GAO) 2011
• Other Audit Guidance
• Other Organizations
• Internal Controls and Fraud

Understanding Fraud Schemes

• Building Background
• Common Fraud Schemes, Symptoms, and Detection Methods

Assessing Fraud Risks and Planning for the Fraud Audit

• The Fraud Detection Model
• Step One: Audit Planning/Risk Assessment

Forensic Approaches to Data Collection and Analysis

• Building Background
• Step Two: Forensic Audit Fieldwork and Testing
• Step Three: Writing Reports

Investigating by computer

• Document collection and analysis
• Interviewing skills
• Documenting evidence
• Testifying as a witness

Legal and Court Involvement

• Building Background
• Job of the Forensic Auditor
• Data Matching
• Legal Compliance
• Reports to Management
• Legal Counsel
• Civil Trial
• Criminal Trial
• Preparation of Curriculum Vitae
• Testifying Expert vs. Consultant
• The Discovery Process

Deposition

• The Trial
• Avoiding Mistakes Other Experts Have Made
• Alternative Solutions to the Trial

Way forward After the Training

Participants will develop a work plan through the help of facilitators that stipulates application of skills acquired in improving their organizations. ASPM will monitor implementation progress after the training.

Training Evaluation:

Participants will undertake a simple need assessment before the training to identify the knowledge gaps and also after the training   so as to monitor knowledge and skills gained through the training