Forensic
Accounting
and Fraud
16-18 September 2015 Maputo, Mozambique
“Training in
CONTENTS
Course Overview
Supporting Organisation
About the Course Facilitator
Day 1
Day 2
Day 3
3
5
6
7
9
10
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
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
white-collar crimes. Forensic accountants investigate and prevent white-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.
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.
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
Testimonials
• ‘Anti-money laundering’ course • ‘Fraud and Corruption’ course • Personal and Business Tax Diploma “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”
Wednesday, 16 September 2015
Day 1
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
Wednesday, 16 September 2015
Day 1
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
PROGRAMME AGENDA
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
Thursday, 17 September 2015
Day 2
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
PROGRAMME AGENDA
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
Friday, 18 September 2015
Day 3
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
PROGRAMME AGENDA
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
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
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.
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• 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.
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DAUD Fax : +603 4131 6700 Tel : +603 2630 6100 Email : daud@capsource.com.my FORENSIC ACCOUNTING AND FRAUD (MP-TR-FA1532) 16 - 18 September, 2015
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: SPECIAL DISCOUNT: USD 3,000 each ends 26th June EARLY BIRD: USD 3,500 each ends 31st July NORMAL PRICE: USD 3,995 each 4th DELEGATE
