Upon successful completion of this course, participants will be able to:
- Section 1
- Describe several of the ten steps to prevent and detect fraud, and utilize tools and techniques for fraud detection and prevention.
- Recognize issues with regard to segregation of duties, and apply recommended practices for safeguarding cash assets.
- Analyze data and use financial analysis as a fraud prevention tool.
- Recommend possibilities for audio/visual surveillance as an anti-fraud tool.
- Section 2
- Implement a successful fraud prevention and detection program.
- Follow-up on a whistle-blower report.
- Evaluate and improve fraud controls as part of following up on fraud hotline reports.
- Section 3
- Recognize characteristics of continuous auditing.
- Explain several ways that data extraction software can be used to improve fraud prevention and detection.
- Utilize Benford’s Law in data analysis: identify the populations for which it will provide meaningful information, interpret variances from the expectation percentages, and determine how best to follow-up on anomalies revealed by Benford’s Law.
- Section 4
- Analyze data, identify anomalies to be checked, and perform logical follow-up steps for fraud prevention and detection, based on the results of your data analysis.
- Recognize characteristics of “typical” fraud perpetrators and apply knowledge of those characteristics to implement effective fraud prevention and detection controls.