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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 15, 2019

52 Reviews (208 ratings)Reviews

3
Anonymous Author
There are interesting recommendations for interacting with management, e.g. "when the management objects". What I did not like, part of the course is dedicated to promotion of the book. Also, there are dunious references to Standards. Standard 1210 is "Proficiency", not "Individual Objectivity". Anyway, it is probably better to refer to standard 1220 "Due Professional Care" to explain to management the need for fraud evaluations.
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.
4
Anonymous Author
This course covers the basics as well as some broader concepts as to how board members, management, and auditors address the risk of fraud. Fast-paced and insightful as always!
5
Anonymous Author
This is another excellent course from a wonderful instructor. I think the course adds value for any Accounting/Finance professional - not just those who work in internal audit.
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.
4
Anonymous Author
Good fundamentals re: Fraud Triangle. Discussion around bases/authoritative support for why IA should be involved in fraud evaluation activities was beneficial.
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
Member's Profile
Liked the slides, very concise and easy to understand. Disliked a couple of the questions that appeared designed to be "tricky".
4
Anonymous Author
The speaker discussed in detail the fraud considerations that an auditor should have in the performance of their audit.
4
Member's Profile
Provides a clear overview of Internal Audit's role and responsibility with respect to Frau Evaluations.
5
Anonymous Author
fraud evaluations: a Guide, was well put together with COSO and the Fraud Triangle / Diamond concepts.
4
Member's Profile
Questions were not worded nearly as well as other exams by this trainer. Overall objectives were met.
5
Member's Profile
I really enjoyed the course and the supporting documents that came along with it, very insightful!
4
Anonymous Author
This course was informative and helpful. Added materials (PDF's) are good reference materials.
5
Anonymous Author
As always, Lynn Fountain provides excellent and comprehensive instruction and course material.
5
Anonymous Author
Very useful to any business executive. There is lots to learn in this course. Thanks Lynn!
5
Anonymous Author
The course was in-depth, interesting and easy to understand. It was a great refresher.
5
Anonymous Author
Was geared more for someone in an Internal Audit role but was broad enough for everyone
5
Member's Profile
The course was efficient and easy to follow, great way to finish my CPE requirements
5
Member's Profile
Great and challenging course. The content of the course was very good and detailed.
5
Anonymous Author
Great overview of fraud dynamics within an organization and what IA can do to help
5
Member's Profile
Very informative presentation. Objectives were met and instructor was effective.
4
Member's Profile
It is very useful to learn a basic of Fraud Evaluations within an organization.
5
Anonymous Author
The course is highly educative and I will recommend it for anyone in finance.
4
Anonymous Author
Не могу сказать, что узнаете много нового
4
Anonymous Author
Good overview for this topic; covers the basics and is a good refresher.
4
Anonymous Author
Good explanation and overview of fraud evaluations and internal audit.
4
Anonymous Author
Ms. Fountain is very competent and thorough in her presentation.
5
Anonymous Author
A great course for understanding the concept of fraud and COSO.
4
Anonymous Author
This was a very good course on all things fraud. Thank you.
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