Review of Financial Accounting and Detecting Fraud Course
Course Overview
| Course Title | Review of Financial Accounting and Detecting Fraud Course |
| Organization | Tech For Development (T4D) |
| Venue | Tech For Development (T4D) Training Center along Tala Road, Runda, Nairobi |
| Duration | 5 days |
| Target Industries |
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| Target Job Roles |
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| Course Fees (Face-to-Face) | USD 1,100/KES 75,000 (Exclusive of VAT) |
| Course Fees (Virtual) | USD 1,000/KES 70,000 (Exclusive of VAT) |
| Training Modes | Virtual and face-to-face training |
| Payment | Payment should be made to the Tech For Development (T4D) bank account on or before the start of the course |
| Accreditation | Tech For Development Certificate of Course Completion |
Introduction
Fraud, including accounting fraud, accounts for significant activity by the criminal classes and this seminar sets out to explain what accounting fraud is, how it can be detected and therefore how it might be prevented.
A large emphasis of this programme is quantitative since accounting is a quantitative subject and auditors and others need a quantitative perspective on their work.
The cases and data coming from the Oil and Gas Industry will be used at relevant places in the seminar. Delegates are highly encouraged to be ready to discuss their own concerns although it is appreciated that confidentially is a supreme concern in a seminar such as this.
Duration
5 days
Course Objectives
- Discuss the structure and foundations of financial reporting
- Undertake an initial analytical and critical review of financial reports
- Be aware of creative accounting and how it can be determined
- Determine the need for forensic accounting by means of case study and other analysis
- Appreciate the nature or Benford’s Law and its increasingly important role in the prevention and detection of fraud
- Discuss the role of the auditor in detecting fraud
- Applying predictive modelling to the fraud problem
- Carrying out a variety of statistical tests on financial reports and accounting data
Course Modules
Course Outline
Module 1:Financial Accounting Review
- The Background to Financial Reporting
- Structure of financial reports
- Regulation of financial reporting
- Legislation
- Financial reporting standards
- Concepts and conventions
- The framework
- The Analysis of Financial Reports
- Ratio analysis
- Statistical and graphical analysis of financial reports: how can fixed costs be less than zero?
- Detecting bias in accounting numbers
- Qualitative analysis: what people say and what they might mean
Oil and Gas Company Reporting Standards and data will feature significantly in this section
Module 2:What is creative accounting and why is it a bad thing?
- Earnings management
- Inappropriate accruals and estimates
- Excessive provisions
- Recognizing premature revenue recognition
- Fictitious revenue
- Aggressive capitalization
- Creative income statements: classification and disclosure
- Problems with cash flow reporting
Cases from the energy sector will be used here
Module 3:
- The basics of forensic accounting
- The going concern concept in greater detail
- Cases in which forensic accounting was used
- Off balance sheet finance
- Introduction to Benford’s Law
Cases from the energy sector will be used here
Module 4;The Role of the Auditor and Detecting Fraud
- The Role of the Auditor in the Prevention and Detection of Fraud
- Deterring Fraud
- The fraud triangle
- Why?
- Who?
- How?
- The fraud triangle
- The COSO “Internal Control – Integrated Framework,” (COSO Model)
- 20 ways to detect fraud
- Fraud v Erroneous Claims
- Fraud Detection as a Predictive Modeling Problem
- Predicting rare events
- Predictors
- Stratified sampling
- Stratified random sampling
- Outliers
- Data mining
- Text mining
- Identifying fraud using time series analysis
- Fraud risk assessments
Module 5:Detecting Fraud
- Further Statistical Analysis of accounting and other data
- Grouping
- Ordering
- Correlation and regression analysis
- Hypothesis testing
- Further application of Benford’s Law
- Chi Square and Kolmogorov Smirnoff Tests
- Mean Absolute Deviation (MAD) test
- Mantissa Arc Test
- Second Order and Summation Tests
Course Administration
Methodology
Instructor-led sessions use a blended learning approach combining presentations, guided practical exercises, web-based tutorials, and group work, delivered by seasoned industry experts. All facilitation and course materials are in English, so participants should be reasonably proficient in the language.
Accreditation
Upon successful completion of this training, participants will be issued a Tech For Development Certificate of Course Completion certified by the National Industrial Training Authority (NITA).
Training Venue
The training will be held at the Tech For Development Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
Accommodation & Airport Transfer
Arranged upon request.For reservations contact the Training Officer:
Email: [email protected]
Phone: (+254) 790 824 179
Tailor-Made
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our T4D Training Centre or at a convenient location.
Payment
Payment should be transferred to the T4D account through a bank on or before the start of the course. Send proof of payment to [email protected].
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