Date and Time:
October 11, 2023 2:00 PM - 5:00 PM
October 12, 2023 10:30 AM - 1:00 PM
Event Location:
Online, India
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