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The topic of fraud continues to be on the radar of investors, shareholders, and regulators. Despite a Kroll Advisors survey showing a decrease of corporate fraud incidents in recent years, new fraud methods are continually being devised and identified thanks in large part to advances in technology and IT infrastructure.

Compliance professionals and auditors are not expected to have the expertise of forensic investigators, but should have working knowledge of the aspects of fraudulent activities and maintain a skeptical mind when it comes to reviewing potential violations.

This course, led by internal audit expert Lynn Fountain, provides a practitioner’s perspective of what your company should include in their internal audit programs and processes to mitigate and avoid fraud. We’ll cover:

  • The psychology of fraud and connection to the fraud triangle and fraud diamond
  • The International Professional Practices Framework (IPPF) for internal auditors
  • Employing the COSO 2013 towards fraud
  • Right-sizing the internal audit team's responsibilities
  • Risk assessment considerations
  • Reporting procedures

Learning Objectives

  • Identify the attributes of fraud
  • Identify 5 Control Environment principles that can be connected to the need to evaluate for fraud
  • Recognize how to utilize professional skepticism when evaluating for fraud
Last updated/reviewed: November 16, 2017

30 Reviews (139 ratings)Reviews

5
Anonymous Author
Internal auditors could make use of the very well structured information of the presentation in their work as well as a material to present to the management.
5
Anonymous Author
A great course for understanding the concept of fraud and COSO.
4
Anonymous Author
Very informative. Even though this course is designed around an internal auditor's role I felt like this was relevant and can be helpful to anyone who may be responsible for risk assessment and investigating fraud.
5
Member's Profile
Great presentation; provided a lot of good thoughts about fraud detection and defending against fraud. The fraud diamond concept has also been explained. Overall very good!!!
5
Member's Profile
Very informative class. I've taken many of Lynn's classes. She's very clear, explains with examples from her experience and organized. I highly recommend this class.
5
Member's Profile
I really enjoyed the course and the supporting documents that came along with it, very insightful!
5
Anonymous Author
Very useful to any business executive. There is lots to learn in this course. Thanks Lynn!
5
Anonymous Author
Was geared more for someone in an Internal Audit role but was broad enough for everyone
5
Anonymous Author
The course is highly educative and I will recommend it for anyone in finance.
4
Member's Profile
Good discussion on the internal auditor role in fraud.
3
Anonymous Author
Great content, less marketing in this presentation.
3
Member's Profile
Good refresher on the purpose of fraud evaluations.
3
Anonymous Author
Content is excellent but video is poorly shot.
5
Anonymous Author
Good course. Concepts are clearly explained.
5
Member's Profile
A lot of information but great audit review
5
Member's Profile
Very comprehensive presentation
5
Anonymous Author
Refreshed my leanings as CFE
4
Anonymous Author
Thorough and well organized.
4
Anonymous Author
Very informative
4
Anonymous Author
Nice overview.
5
Member's Profile
great course!
5
Anonymous Author
Good overview
5
Anonymous Author
Great course
4
Member's Profile
Great class.
5
Member's Profile
Interesting!
5
Anonymous Author
Good course!
5
Anonymous Author
good course
4
Anonymous Author
Ok course.
5
Anonymous Author
Very Good!
Anonymous Author
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Prerequisites

Course Complexity: Intermediate

Prerequisite: Exposure to internal controls

This seminar will review critical concepts that internal auditors must consider and be educated in. No advanced preparation or prerequisites are required, but the following courses will provide useful context.

  • The psychology of fraud and connection to the fraud triangle and fraud diamond.
  • Examining the IPPF Framework and executing responsibility for fraud processes.
  • Employing COSO 2013 within fraud concepts. 
  • Considerations for reporting procedures when fraud is identified.

Advanced Preparation: None

 

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
Fraud Evaluations
  12:24Psychology Dynamics
  2:23COSO and Fraud
  3:51Fraud Theories
  4:45Opportunity Considerations
  6:25Added Dimensions
  3:41COSO Considerations
  10:55Control Environment Principles
  7:00Determining Internal Audit's Role
  9:14Understand the Business
  8:07Auditors and the IPPF
  10:25When Management Objects & Potential Steps
CONCLUSION
  9:13Fraud Risk & Summary
Continuous Play
  1:38:33Fraud Evaluations: A Guide for The Compliance Professional
SUPPORTING MATERIALS
  PDFSlides: Fraud Evaluations
  PDFFraud Evaluations Glossary/Index
Bonus Material
  PDFArticle: Fraud Awareness
  PDFBook Forward: “RAISE THE RED FLAG”
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM