OBJECTIVE

To enable participants be aware of economic criminal activities and provide them with the skills and techniques necessary to identify and deal with many kinds of fraud.  Also to provide an opportunity to examine a variety of strategies and management techniques for reducing and preventing fraud and corruption

You will learn how to:

• Protect your orgnaisation by predicting future fraud tactics
• Formulate a fraud prevention strategy that will protect your organization against crime
• Identify vulnerable and potential areas of risk in your organization
• Recognize totential offenders through understanding human nature
• Minimize the effect of fraud on your company’s image
• Combat fraud through the role of internal auditing
• Retrieve evidence from personal computers and uncover fraudulent cramps
• Investigate and draw up watertight cases against suspects of fraud

Financial Integrity and Corporate Morality

• The realities of Fraud Risk
• Corporate Governance – what is corporate governance and what are the primary fraud Risk Mitigation Tenets
• The Sarbanes-Oxley Act and implications for Business Fraud and the Audit Profession
• Clarifying the Responsibility for identifying and preventing Fraud

Developing Integrated Strategies to Prevent and Detect Economic Crime and Ethics Abuse.

• The costs of Occupational Fraud and Abuse
• Perpetrators in Perspective
• Understanding Human Behaviour
• Common Fraudster rationale
• The behavioural Shift and the trigger that create the modern fraudster
• Strategic Management Planning (Fraud Prevention)
• Objectives and Characteristics;
• Key Success Factors; Critical Performance Areas
• Developing a culture of Ethics

Legal Elements of Fraud:

• Understanding legal obligations and requirements
• The Companies Act
• Public Finance and Management Act (PFMA)
• Common Law considerations of Fraud Investigation; Powers of Search and Seizure;
• Common definitions and the primary Elements of Fraud
• Fraud Management and Investigation and Constitutional Considerations
• Navigating your way through the criminal prosecution
• Prevention of organised Crime Act
• Civil Proceedings and Asset recovery

Proceeds of Crime and Money Laundering Typologies:

• Introduction
• What is money laundering?
• Scope of the problem; Stages and Techniques of Money Laundering;
• Anatomy of Money Laundering case

Identifying Occupational Fraud Risk Typologies and Red Flags

Cash Frauds:

Skimming; Voids/Under rings; Exchange of Checks for cash; Till tape alteration; Fictitious refunds and discounts; Journal entry manipulation; Kiting

Accounts Receivables Fraud:

Lapping; Fictitious sales; Diversion of payments; Borrowing

Inventory Fraud:

Theft to inventory; Embezzlement; Theft of Scrap Proceeds

Purchasing Fraud:

Fictitious invoices; Over-billing; Check payable to employees

Duplicate payments; Conflicts of interest

Fraud to Investments and Fixed Assets

As Collateral; To earn interest

Human Resources Fraud Payroll Fraud:

Ghost employees; Overtime abuse; Withholding tax schemes;

Falsse personal expense claims

Account Payable Fraud:

Credit Card Fraud

Identifying Management Fraud Risk Typologies and Red Flags

Revenue Recongnition

Improper Revenue Recognition Substance versus Form

Revenue Recognition in Improper Periods

Improper Revenue Recognition Percentage of Completion

Improper Treatment of Certain Transactions as Sales

Inadequate Disclosure of Related-Party Transactions

Improper Asset Valuation

Improper Deferral of Costs and Expenses

Inadequacies in Managements Discussions and Analysis