This workshop will equip participants with several forensic accounting and fraud examination techniques involving fraudulent financial statements and asset misappropriation as well as best practices to prepare reports, court-ready schedules and court-ready audio-visuals and testify as an expert witness in court. Participants will work two cases: fraudulent financial statements (examining fraudulent income statements, balance sheets, and insurance proof of loss associated with an alleged incendiary fire and associated documents like vendor statements, state sales tax returns, and court records;) and asset misappropriation (examining bank statements, cancelled checks, deposit tickets, cash receipts and cash disbursements journals) from a physician’s office by the office manager.
The course will also discuss:
- Realistic and comprehensive examples that illustrate a few of the forensic accounting and fraud examination techniques and illustrate the need to think outside the box.
- Conducting an analysis of financial statements, monthly bank statements, cancelled checks, deposit tickets, and other supporting documents.
- Gathering valuable information from forensic interviews.
- Preparing documents that summarize the results of the forensic accounting and fraud examination assignment: reports prepared under Rule 26, court-ready schedules, and court-ready audio-visuals.
- Learning the basics of testifying as an expert witness in court (voir dire, direct and cross examination, etiquette, demeanor)
Some of the key topics covered in the seminar are:
- Analyzing financial statements for fraud and how to set to up controls to detect it.
- Preparing bank reconciliations to identify the possibility of missing cash and when it is implemented.
- How to analyze cancelled checks and methods to recognize check fraud.
- How to analyze debit card transactions and methods to recognize debit card fraud.
- How to analyze deposit slips and compare it to cash receipt records to recognize fraud.
- Simplifying accounting schedules to improve a reviewer’s understanding.
- Simplifying the complex with audio-visuals.
- Preparing reports under Rule 26.
- Testifying as an expert witness – winning the jury’s confidence – dress, etiquette, demeanor, eye contact and other aspects to keep in mind.
- Testifying as an expert witness – voir dire.
- Testifying as an expert witness – direct examination.
- Testifying as an expert witness – surviving cross examination.
- Learn how to commence forensic accounting and fraud examination analyses of simple fraudulent financial statements and employee theft via skimming, check fraud, and ATM card misuse.
- Learn how to analyze financial statements for fraud and supporting documents.
- Learn how to analyze the front and back of cancelled checks, debit card transactions, deposit tickets, and bank reconciliations.
- Learn how to prepare court-ready schedules, and court-ready audio-visuals.
- Learn how to prepare reports under Rule 26, court-ready schedules, and court-ready audio-visuals.
- Learn the basics of testifying as an expert witness (voir dire, direct and cross examination, etiquette, demeanor).
Who Will Benefit:
- Internal and external audit professionals
- Finance and accounting management
- Compliance professionals
- Loss prevention and risk specialists
- Fraud examiners
- Procurement/purchasing and payables specialists
- HR managers
- Security personnel
- CEOs and senior management of small and mid-size firms
- Attorneys involved in financial litigation
- Insurance claims adjusters
- Government (state and local) financial investigators
- Lending officers
- Credit and collection department personnel
- Merger and acquisition personnel
- Investors and their brokers
- Retail banking leaders
- Employees designing fraud controls
Those who examine alleged instances of fraud (e.g., attorneys, criminal investigators, financial auditors, financial investigators, forensic accountants, fraud examiners, insurance claims officials, and internal auditors) often face a myriad of unique fraud scenarios, which require forensic accounting and fraud examination techniques. As categorized by the Association of Certified Fraud Examiners, alleged occupational frauds fall under three categories (corruption, fraudulent financial statements, and asset misappropriation). Of the three, asset misappropriation has the largest number of fraud types (e.g., check fraud, payroll fraud, and register fraud). In addition to occupational fraud, there is a plethora of frauds, including divorce, financial institution, insurance, mortgage, and tax fraud. Based on the workshop leader’s expertise, a person committing fraud in one area is committing fraud in other areas. If there is smoke, there is fire and those who examine fraud must be ready to investigate other types of fraud.