Fraud Risk Management:
Issues & Answers for Internal
Auditors
The Auditor's Role in Fraud Prevention, Detection
and Handling
Summary
The fraud expectations placed on Internal Auditors grow each year. Most managers and Board members expect that audit groups possess and can effectively deploy fraud-handling expertise. With the additional expectations of the Sarbanes-Oxley Act, professional auditors are working harder than ever to define their fraud-handling role and be part of the solution.
But even very experienced auditors will acknowledge that handling wrongdoing, misconduct and fraud issues, while interesting, is an area of great uncertainty and risk. What is needed is a place for auditors at all levels to learn the skills necessary to respond appropriately and effectively to these challenges.
Learning Objectives
This “how-to” course for internal auditing professionals will help participants be more effective in:
Assisting management with fraud prevention and detection
Identifying fraud exposures and risks
Detecting fraud and misconduct
Handling fraud incidents
Program Content
The internal auditor’s role in fraud risk management
What the professional standards say (and what they don’t say)
Creating a Loss Scorecard
Fraud Prevention: helping management create an anti-fraud environment
Fraud risk assessment during audit planning
Creating a fraud risk inventory for your organization
Fraud discovery skills for internal auditors
Fraud examples and the impact on audit planning, work programs and controls
High payback audit steps
Monitoring suggestions
The internal auditor’s role in investigations
Documenting a fraud case
Helping management correct control weaknesses
Learning Method and Suggested
Length
Instructional Method, Program Length and Continuing Education Credits
This seminar utilizes a combination of lecture, discussion and short exercises. The program length is one full day. In accordance with the standards of the National Association of State Boards of Accountancy (NASBA) Continuing Professional Education credits have been calculated based on a 50-minute hour.
Program Level: Basic
Prerequisites: None
Field of Study: Accounting & Auditing
Recommended CPE Credits: 8 credits
Assisting management with fraud prevention and detection
