Achromic Point

Description

Achromic Point presents a Certificate Course on Detecting and Preventing Internal and External Frauds on 11th & 12th October 2023 that will provide auditors, fraud examiners and other financial professionals with a strong foundation of practical knowledge about how common frauds are committed and why it is vital to an organization, large or small to have a fraud prevention plan in place.

Benefits of attending:- 

• Understanding Whistle-blower hotlines: How to set them up and manage them
• Fraud Risk Assessment and Recognizing the Red Flags of Internal Fraud
• About the Investigation Techniques
• How to establish an Anti- Fraud Culture

Who should attend:-

• Fraud Examiner
• Internal Auditors
• Chief Risk Officers
• Chief Audit Executives
• External Auditors
• CFOs
• Internal Directors/Managers/ Supervisors/Auditors
• Risk Managers
• Assurance professionals
• Risk & Governance professionals

Agenda:

11th October 2023
02.00 PM – 03.30 PM

Session 1: Fraud and Regulatory Landscape in India
• External versus Internal Fraud—short overview (Fraud Matrix) information security theft and fraud
• Who commits fraud — The Fraud Triangle (Graphic scenario of presence of all three components)
• Lessons from Fraudsters: (Examples of real-life frauds that can and do affect corporates

11th October 2023
03.30 PM – 05.00 PM

Session 2: Conducting a Fraud Risk Assessment and Recognizing the Red Flags of Internal Fraud
• External Fraud
 Vendor fraud (Case studies that show new ways vendor fraud can be committed)
 Fraud Risk Mitigation Cycle – Implementing a Company-Wide System for Detecting, Preventing and Investigating Fraud
 Financial reporting fraud (Unusually high revenues, odd patterns in receivables, etc.)
• Internal Fraud:
 Embezzlement (General definition; case studies)
 Procure-to-Pay fraud (Procurement — Receiving—Accounts Payable Cycle)
 Financial reporting fraud

12th October 2023
10.30 AM – 12.00 Noon

Session 3: Fraud Detection
• Role of Fraud Manager
• Whistle-blower hotlines: How to set them up and manage them (detailed discussion of do’s and don’ts). Detailed instruction on best practices and mistakes to avoid
o Other important fraud detection procedures:
 Surprise Internal Audit
 Regular internal audits, incorporating fraud audit testing
 Physical inspection of inventory
 Manual review of all vendors (to ensure absence of sham vendors)
o Establishing an Anti- Fraud Culture
 Use of AI in Fraud Detection
 New tool and technologies in Fraud Detection
 Benchmarking the effectiveness of your anti-financial crime policies and procedures
 Determining risk appetite for complex but legal structures
• Developing global collaborative efforts to mitigate risks of fraudulent activities and constraining reputational risks

12th October 2023
12.00 PM – 01.00 PM

Session 4: Investigation Techniques- Forensic Accounting Investigation – What it Is
• Different from Internal Audit/ When to Call in Forensic Accountant/Auditor
• Forensic accounting/auditing techniques: Data Mining and Analytics (most powerful forensic accounting investigative tool); ratio analysis;
• Gathering evidence – Document retention, chain of custody, preservation, mistakes to avoid
• Securing crime scene
• Interviewing/interrogating suspects – Detailed steps with examples
• Documenting findings

Thought Leaders:

• Ajay Upadhyay
  Practice Head – Compliance & Investigation
  AZB & Partners
• Ankush Lamba
  Managing Director, Data and Technology
  Ankura