Effective Internal Auditing Strategies and Fraud Risk Mitigation

Auditors have a variety of roles related to fraud ranging from limited involvement to complete responsibility for the internal investigation and reporting to law enforcement. This workshop focuses on monitoring activities, understanding the nature of fraud and how it manifests itself, internal audit’s role in detecting fraud and audit steps to detect fraudulent activities.

CONTENT

Internal Auditing Best Practices

– Internal auditing definition

– Document for change

– Principles

Fraud Concepts and Challenges

– Fraud and its core elements

– Fraud risk management

Fraud Detection

– Fraud exposures

– Symptoms of fraud

– Practical use of behaviours red flags

– Audit program steps

The impact of Technology on Fraud

– Data mining to detect fraud

– Computer crime

– Current exposures related to technology

Risk and Control Self-Assessment

– Structured interview guide

– Audit project survey

– Extra guide self-assessment survey

– Internal control assessment

Investigation Response

– Auditing role in investigation

– Investigation checklist

– Tools for more effective investigation

Approaches to Prevention

– Fraud prevention

– Mobilizing management in the fight against fraud

FOR WHOM:

All Internal Auditors and Risk Managers in the Public and Private Sectors.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.