Date and Time:
August 2, 2021 11:30 am - 1:00 pm
August 3, 2021 11:30 am - 1:00 pm
August 4, 2021 11:30 am - 1:00 pm
August 5, 2021 11:30 am - 1:00 pm
August 6, 2021 11:30 am - 1:00 pm
Event Location:
Online, India
Description
The vulnerability and the confusion created by novel Coronavirus serves as a perfect medium and opportunity for the fraudsters. Organizations of various kinds, sizes, location & industries that were not ready to work remotely are increasingly threatened by fraud during the pandemic and resulting in the deteriorating security & safety standards. Thus Achromic Point along with ACFE Mumbai Chapter as Supporting Partner present a Certificate Course on Detecting and Preventing Internal and External Frauds starting from 2nd, 3rd, 4th, 5th & 6th August 2021 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 organisation, 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
Thought Leaders:
- Shashank Karnad
Partner & CEO Forensic Services
Mahajan & Aibara
- Amit Rahane
Vice President of ACFE Mumbai Chapter
- Vikram Santara
Chief Manager – Fraud Prevention Unit
Bajaj Allianz Life
- Ankoosh Mehta
Partner
Cyril Amarchand Mangaldas
- Rahul Lalit
Partner
PwC India
Brochure: DPIEF_V6
Event Timelines
• 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
“CFEs will be awarded 1.8 CPE points to attend this session.”
• 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
“CFEs will be awarded 1.8 CPE points to attend this session.”
• 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
“CFEs will be awarded 1.8 CPE points to attend this session.”
• 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
“CFEs will be awarded 1.8 CPE points to attend this session.”
• Brief background on legislations that cover civil and criminal fraud;
• External Frauds:
Vendor fraud
Financial fraud
The growing threat of cyber-crime (hacking/ information theft, phishing emails etc.)
Cyber fraud
Other examples – Visa fraud, customs fraud
• Internal Frauds:
Siphoning of funds
Frauds committed by employees
Whistle blower complaints
• Obligations on the board to understand and report frauds
• Authorities that may be involved in such cases
• Q&A and Interactive Discussion
“CFEs will be awarded 1.8 CPE points to attend this session.”
