Forensic Accounting and Fraud

Transcription

1 Training in Portuguese Language Forensic Accounting and Fraud September 2015 Maputo, Mozambique Supported by Organized by 1

2 CONTENTS Course Overview Supporting Organisation About the Course Facilitator Day 1 Day 2 Day

3 Course Overview Corporate crime is an unlikable fact in today s big business world. It has touched every country, every industry, and has no signs of stopping. Throughout the past 5 years, the number of reported cases of fraud and corruption has continued to grow radically across regions. Compounding this are the challenges faced by the audit team and a general lack of the necessary skill sets to collect the right audit evidence so critical to criminal investigations. While the regulatory measures and internal controls in reporting requirements help to lessen the potential for falsified activities to take place, history has shown that ingenious employees can and have manipulated even the best control systems for personal gain. Virtually every entity suffers from fraud, though management might not know it. With fraud costing entities an estimated 5% of their annual revenues, organizations lacking proactive fraud prevention measures are the most at risk. Occupational fraud is a significant threat to any organisation. Those organisations which employ fewer anti-fraud controls are more vulnerable to fraud. Forensic auditing provides an investigation methodology and accounting analysis that is suitable to the court which will form the basis for discussion, debate and ultimately dispute resolution. This course concentrates on practical advice for internal auditors in the fight against fraud, with focus sessions on deterrence, data mining and interviewing in a stressed environment. It provides an incisive analysis of how fraud occurs within an organisation and explains the latest techniques for fighting it. Benefits of Attending Gain insights in conducting anti-fraud and anti-bribery audits Detection of white collar crimes within an organisation Enhanced skills for Forensic Investigations Successful prosecution of economic crimes, in particular fraud Collaboratively acquire knowledge on integration of accounting, auditing and investigative skills. Gain the expertise to conduct investigations and ensure recovery Learn how to make your organisation resistant to all forms of unethical businesses Secure, analyse and present the evidence Find elusive misconducts that others miss 3

4 Key Issues to be Addressed at this Professional Training Detection of Fraud Schemes and how they usually occur Analysis of Asset Misappropriation Schemes Risk Management identifying types of risk, risk culture, COSO Framework and ways to mitigate risk Setting up an Investigation Plan Records analysis and Forensic Analytics Strategies in conducting interviews and investigations Who Should Attend Forensic Auditors Investigation Auditors Financial Auditors IT Auditors Internal Audit Managers Internal Audit and Compliance Project Audit Managers Financial Controllers Finance Managers Asset Managers Liabilities Managers Project Financing Managers Accounting Managers It is also ideal for middle and senior managers who have ownership of the responsibility of overseeing the accounting, audit and financial process as it relates to the detection and prevention of economic crime. Why You Should Not Miss This Event In this training you will learn the skills to become a financial detective and prevent whitecollar crimes. Forensic accountants investigate and prevent white-collar crime by sorting out questionable data in financial reports. You will be able to track terrorist funding, keep companies Sarbanes-Oxley resistant, detecting money laundering, tax evasion, and misuse of financing schemes. And since most forms of occupational fraud are accounting related, forensic accounting has become one of the fastest growing segments of the accounting profession. You will also get a solid foundation in managing your auditing, fraud prevention, and detection. One of your real-world case studies is a simulated investigation with a growing company needing help with accounting issues that surfaced during financial statement preparation. As part of auditing team, you ll learn to deal with the investigation, correcting the financial statements, and present on your group findings. Not forgetting our credentialed instructor, Juan Carlos with professional accounting experiences conducts the training therefore you ll benefit from his years of experiences. 4

5 About Our Supporting Organisation Ordem dos Contabilistas e Auditores de Moçambique (OCAM) is the finest accountancy and Auditing body in Mozambique. It provides a wide range of support services to more than 3,000 members who are Chartered Accountants and Chartered Auditors and hold positions as CEOs, MDs, board directors, business owners, chief financial officers, auditors and leaders in their spheres of business operation. Most of these members operate in service, commerce and industry, and play a significant role in the nation s highly dynamic business sector and economic development. 5

6 About the Course Facilitator Juan Carlos Venegas International Accountant, Fraud Specialist and Finance Trainer AAIA ICPA CFC ICFS CFIP Juan Carlos Venegas is a highly experienced accountant, certified forensic investigation professional, counter- fraud specialist, and trainer; founder of Fiscal Accounts in 2003, and F&F Consulting in 2014, an accountancy firm specialised in accounting, taxation, fraud prevention, detection and investigations, and forensic accounting. He advises clients on financial management, budgeting and strategy implementation, fraud prevention and detection and internal control. His clients are companies from different sector: construction, retail, multimedia, manufacturing, etc. He is also a consultant for the Global Bankers Institute. He is a Finance Trainer for different international organisations and their clients, including Oil & Gas companies and banks, and he has delivered training in the UK and abroad. Some of the areas of training are: Forensic Auditing, Fraud Prevention and Detection, Internal Auditing and Internal Controls, Money Laundering, Budgeting and Costing, Financial Management, IFRS, Procurement, Project Finance, Project Management, Banking, Risk Management, Cash Management and Treasury, Data Analysis, Financial Modelling. In 2013 he became the UK representative of the International Institute of Certified Forensic Investigation Professionals (IICFIP) and an accredited tuition centre in the UK and Europe. He is also an executive director and the treasurer of the Institute of Counter Fraud Specialists (ICFS) in the UK. Publications Accounting courses for Oxford College Mathematics and Economics courses for Oxford College How to become an expert witness course Anti-money laundering course Fraud and Corruption course Personal and Business Tax Diploma Testimonials Juan Carlos has proved to be a reliable person who delivers professional and enjoyable training courses for my clients in Finance, Law and Compliance. Juan has the dynamic capacity to think outside the box and make course participants consider different scenarios beyond the details which have been presented to them. Juan is a through professional in practice who supports businesses and companies and helps them achieve their targets and objectives without losing control of their finances. His professionalism and practical approach makes him one of those persons who I would recommend without any doubt. Azeem, Mustafa Associates, London It was a very interesting workshop Donna, Deutsche Bank, Kuala Lumpur It was an exciting and informative seminar that you gave. We truly enjoyed the seminar and found the presentation useful in our work. Donna, Deutsche Bank, Kuala Lumpur I really benefited for this course. It was short but extensive and very beneficial. Hope to attend some other courses by you Mohammad, Yacob Behbehani Sons, Kuwait The training session was worth attending. The trainer is professional and hands on to topic Sarvottam, Emirates Logistics, Dubai 6

7 PROGRAMME AGENDA Day 1 Wednesday, 16 September 2015 Session 1 Getting it right: Outlining Forensic Auditing and Forensic Accounting Defining the meaning of forensic Forensic Accounting VS Auditing Comprehending the Business Environment Stressing out the importance of Organisational Structure A deeper review of Internal Controls Fraud Detection and responsibilities towards preventing it Notable Case Studies to Enhance Forensic Auditing Session 2 Learning from History : Spotting Fraud Scams and Schemes What is Fraud? - Identifying the common fraud risks - Define the legal aspects of fraud prevention Fraud Triangle VS Fraud Diamond - Look through Dr Donald Cressey s Fraud Triangle - Stretching on the 3 main elements on the Fraud Triangle Opportunity, Rasionalisation and Pressure - An overview to Wolfe and Hermanson s Fraud Diamond hypothesis - What makes it from a triangle to a diamond? - Reasoning out the addition of Capability Understanding How Fraud Can Be Committed - Detecting Red Flags at early stages to prevent frauds - Methods in identifying Red Flags 7

8 PROGRAMME AGENDA Day 1 Wednesday, 16 September 2015 Session 3 A Deeper Insight on Financial Statement Schemes: 4 key factors contributing to Financial Statement Schemes - Fictitious Revenue - Timing Differences - Improper Asset Valuation - Concealed Liabilities and Expenses Extracting the Asset Misappropriation Schemes: - Identify common frauds related such as: o Billing Schemes o Payroll Fraud Schemes o Expense Reimbursement Schemes o Misuse of Inventory and other Assets o Theft of Inventory and other Assets o Misappropriation of Intangible Assets Case studies/work group: Identifying fraud schemes and their red flags Session 4 Gaining a better understanding of types of Cash Thefts Types of Cash Thefts - Detection on Skimming and cash larceny - Steps to be taken to prevent cash thefts Fraud Risk Assessment - Defining the approaches to risk management and its culture collaboratively The COSO Framework for Enterprise Risk Management - Unmasking issues of the eight components in the framework Internal Control Review and ICQ Walking through Sarbanes-Oxley Act (SOX) Risk Management Identification - Assess the nature of their fraud and misconduct risk exposures - Design effective ethics and compliance programs and related anti-fraud controls - Assign responsibilities and deploy resources for these programs - Evaluate the program and control effectiveness Fraud Risk Assessment 8

9 PROGRAMME AGENDA Day 2 Thursday, 17 September 2015 Session 1 The Art of Investigating Initiating the Investigation - Developing an investigation plan and various methods of collecting information - Several ways of creating a subject profile for each investigation target - Profiling the subject s profile by analysing the information, conducting interviews and tracing the asset Analysing Records - Develop skill in finding leads - Uncovering illegal activities, patterns and trends in records - Case studies to work in groups on analysing records Forensic Analytics for Auditing - Various methods and techniques to identify auditing fraud - Develop skills handling financial and non-financial data Session 2 Walking through Benford s Law - Various methods in applying Benford s Law - Maximising the full use of Benford s Law in accounting 6 Data analysis to be given importance in forensic accounting - Time-Series Analysis - Correlation - Ratio Analysis - Horizontal and Vertical Analysis - Matrix - Net Worth and Expenditure Method - Application of data analysis methods The COSO Framework for Enterprise Risk Management - Unmasking issues of the eight components in the framework Session 3 Dating the Documents: The art of developing the investigation into documentations - Ways to obtain evidences and examining forged documents - Detection of fake documents- identifying writing and obtaining handwriting samples Problem-Based and learning case studies designed to reinforce principles taught in forensic accounting 9

10 PROGRAMME AGENDA Day 3 Friday, 18 September 2015 Session 1 Conducting the Interview: The skills of Interviewing - Interviewing witnesses by using question typology : open, closed introductory and informational - Legal considerations when conducting an interview - Stressing on elements of conversations: expression, persuasion, and information exchange - Inhibitors of communication: ego threat, forgetting, chronological confusion, unconscious behaviour - How to tackle and deal with resistance and difficult people - Admission seeking questions: preparation and steps - Role play in conducting an interview Session 2 Taking Final Steps: Concluding the investigation - Presenting the outcome of your investigation - Preparing in the correct format and meet the objectives required of the report. Session 3 Presenting your case This is an opportunity for participants to present their own case with their planning of the investigations 10

11 Pre-event questionnaire In order for this workshop to fully benefit you, a pre-course questionnaire will be sent to you in order to test the area where your training needs lies. The results from this questionnaire will ensure that this entire workshop will be delivered at a level that is catering to your needs. Workshop Methodology The training encourages high level of interaction and participation from delegates to maximise benefits of all attending. Delegates are invited to present their own cases, scenarios where questions can be answered and queries or doubts can be resolved. There will also be work groups. Case studies and practical examples for discussion will be used. Save up to 50% with In-house Training Programmes Other Relevant Programmes by CapSource Compensation and Benefits Recruitment and Retention KPI and Balance Score Card Performance Management Strategic Planning for Decision Makers Coaching and Mentoring Succession Planning Training and Development 11

12 Delegate Registration Form FORENSIC ACCOUNTING AND FRAUD (MP-TR-FA1532) September, 2015 SPECIAL DISCOUNT: USD 3,000 each ends 26th June EARLY BIRD: USD 3,500 each ends 31st July NORMAL PRICE: USD 3,995 each Return this signed form to: DAUD Fax : Tel : daud@capsource.com.my 1st DELEGATE 2nd DELEGATE Name: Dr/Mr/Ms Name: Dr/Mr/Ms Department & Job Title: Department & Job Title: Company: Company: Address: Address: Mobile No: Tel: Mobile No: Tel: 3rd DELEGATE 4th DELEGATE Name: Dr/Mr/Ms Name: Dr/Mr/Ms Department & Job Title: Department & Job Title: Company: Company: Address: Address: Mobile No: Tel: Mobile No: Tel: AUTHORISATION I understand and agree to CapSource terms and conditions (Signatory must be authorised to sign on behalf of contracting Organisation) Name: Job Title: Date: Direct Line: Company Stamp INVOICE DETAILS Name: Department & Job Title: Company: Direct Line: FINANCE CONTACT DETAILS Name: Department & Job Title: Company: Direct Line: Terms and Condition COPYRIGHT - All intellectual property rights in all materials produced or distributed by CapSource in connection with this event is expressly reserved and any unauthorised duplication, publication or distribution is prohibited. DISCLAIMER - Please note that speakers and topics were confirmed at the time of publishing; however, CapSource may necessitate substitutions, alterations or cancellations of the speakers or topics. As such,capsource reserves the right to change or cancel any part of its published programme without penalty due to unforeseen circumstances. Any substitutions or alterations will be updated on the website as soon as possible. DATA POLICY - The information the Client provides will be safeguarded by CapSource which may be used to keep the Client informed of relevant products and services through letter, phone, fax, or other electronic means. CapSource will not share this information with other parties unless expressly stated. TAX NOTE - The investment fee does not include any taxes (withholding or otherwise). In case of any applicable taxes, the client has to ensure that the taxes are paid on top of the investment fee paid for the course. Compliance with the local tax laws is the responsibility of the client. CANCELLATION & SUBSTITUTIONS POLICY A replacement participant is always welcomed at no additional charge. For cancellations received in writing more than seven (7)days prior to the conference, the participant is entitled to pay full amount (100%) stated on the invoice and it will receive Credit Voucher that can be used in any of upcoming trainings by Capsoure within one year form the date of issuance. For cancellations received in writing seven (7) days or less prior to an event (including day 7), participant is entitled to pay full amount (100%) stated on the invoice with no Credit Voucher issued, however the delegate will still be entitled to a complete set of course documentation. In the event that CapSource cancels or postpones an event due to circumstances beyond its control, participants payments at the date of cancellation or postponement will be credited to a futurescheduled CapSource event within one year from the date of issuance. Should the event be cancelled due to an act of terrorism, fortuitous events, extreme weather conditions, industrial action, or any reasons beyond management control, CapSource shall endeavour to reschedule, but the client hereby indemnifies and holds CapSource harmless from and against any and all costs including airfare, hotel and other costs, damages and expenses, including attorney fees. 12