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Secure Transaction CPE Credits
1 Credits: Auditing
Course Level
Basic
Format
Webcast
Course Description
The ACFE reports that about 43% of frauds are uncovered from tips to a whistleblower hotline, while internal audit only uncovers about 14% of frauds and external audit only 3%. While detecting fraud is not internal audit’s primary purpose, one is still left to wonder why auditors don’t find more fraud, especially since one of the first questions from management when a fraud occurs is “why didn’t Audit find this?” In this course we discuss solutions to increase the fraud awareness of the audit profession with practical applications to do so.
In this course we discuss how the noble audit profession can identify more fraud during the audit cycle. Currently, the ACFE estimates that internal audit only finds fraud 14% of the time while external audit only finds it 3% of the time. This course covers techniques audit can use to uncover more fraud and how to increase the effectiveness in discovering fraud patterns.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify and analyze the most common fraud schemes across different industries, with special emphasis on distinguishing between asset misappropriation and financial statement fraud patterns.
- Apply context-based suspicion techniques to overcome truth default bias and develop an appropriate attitude of professional skepticism during audit engagements.
- Utilize data analytics and text analytics methodologies to detect potential fraud indicators in both quantitative financial data and qualitative communication materials.
- Recognize behavioral red flags associated with fraudulent activity, as identified by the ACFE, and implement strategic questioning techniques to investigate areas of concern.
- Design and implement unpredictable and varied audit procedures that effectively address organizational vulnerabilities identified through creative “fraudster mindset” exercises.
Course Specifics
WC1925423554
March 4, 2025
None
None
Compliance Information
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Aaron Denbo is the Special Investigations Instructor with The PsyFIN Group, which focuses on training auditors, detectives, investigators, and protective personnel in innovative means of investigation, digital privacy, Open Source Intelligence (OSINT) collection, interviewing, and fraud prevention. Aaron is a Certified Fraud Examiner, Certified Forensic Interviewer, and Elicitation Specialist with fifteen years of investigative experience in fraud and financial crimes. Having worked both public and private sectors, Aaron has spent most of his investigative career involved in major case investigations involving fraud and financial crimes. He has graduate level education and advanced degrees in the security and investigations field with …
Webcast
