The growing influence of fraud and corruption, and the manner in which these are perpetrated, requires a stable response by ensuring a proper investigation of facts. This course is aimed at imparting a detailed understanding of the investigation process. Forensic audit is an important subject to accountants, auditors, managers and forensic investigators in both private and public sector. In this course, participants will gain prominence in the detection and prevention of financial crimes especially in private and public organizations. Specific skills will be taught such as the application of special skills in accounting, auditing, finance, quantitative methods, the law and research including quantitative skills to collect, analyze, and evaluate financial evidence, as well as the ability to interpret and communicate findings.

Course Objective

The course is intended to impart participants with prominence in the detection and prevention of financial crimes especially in private and public organizations

Learning Outcome

After the course, participants will be able to;

• Conduct forensic audit and investigation using accounting, finance, auditing, research and quantitative skills
• Detect symptoms of fraud and apply preventive measures in their organizations
• Apply best practices for preventing and controlling fraud
• Determine whether an individual or an organization has engaged in any illegal financial activities

Target Group

Accountants, Finance Managers, Middle level and top level managers, Forensic Investigators, Internal and External auditors, controllers, analysts.

Course Contents

Module 1: Concept of Forensic audit

• Meaning
• Objectives and role of Forensic Audit
• Factors affecting forensic audit for public and private sectors
• Usefulness of the implementation of forensic audit for public and private sectors
• Its legal implication
• Challenges of the implementation of forensic audit
• Strategies for implementing forensic audit

Module 2: Forensic Audit Framework

• Various stages to consider in a forensic audit
• The legal framework of the forensic audit process
• The techniques to collect evidence

Module 3: Important aspects of an interview

• Quality of interview
• Preparation for interview
• Warnings and representation
• Building rapport
• Probing and investigative questions
• Analyzing behavior and conclusion

Module 4: Key skills for a successful interviewer

• Communication skills
• Interviewing skills
• Emotions control skills
• Honesty and ethical behavior
• Legal knowledge
• Critical thinking
• Research, recording and reporting skills

Modules 5: Step by step forensic audit and investigation

• Scope
• Estimated procedures
• Plan of action – order and timing of procedures, dividing the steps
• Underlying framework – company policies and/ or legislation
• Identifying role players, stakeholders, process owners and /or interviewees
• Identifying and listing evidence/data needed in line with estimated procedures and the custody
• Data analytics
• Review of documents
• Experts
• Interviews
• Reporting

Module 6: Risk based auditing

• Basic concepts
• Framework
• Identifying risk areas
• Uncovering how to adopt risk-based approach in internal auditing
• Review enterprise risk management and how to effectively establish a framework in your organisation
• Evaluate internal audit’s readiness to adopt a risk based approach
• Develop a plan for how to implement risk based auditing
• Risk management techniques

Module 7: Implementation of forensic audit

• Requirements in a Forensic Audit in the Organization

Key skills to master in forensic audits