In the present hash-operating environment the need to constantly monitor the operations and of business organizations need to be over emphasis management account
Provide a basis for management feel the great beat of the organisation and determine what actions are necessary to pilot it all the time on the path of sound financial health. Conversely, they produce early warning signals for business units that require intensive care.
Similarly Corporates frauds have the inherent power to bring large organizations to their knees, cause huge monetary loss, prompt lawsuits followed by significant legal expenses, lead to the imprisonment of employees and deteriorate the confidence in the market, in governments and in institutions.
While developments in the business world, especially on the technological front have accelerated the evolution of various industries, it has also engendered the evolution in white-collar crime especially corporate fraud. The destructive repercussions of corporate fraud have been felt across governmental bodies and companies irrespective of the industry they belong to.
In response, corporations and governments across the globe have stepped up their effort to inspect, prevent and penalize fraudulent practices; resulting in a greater emphasis for the domains of forensic auditing and accounting in the current economy.
White-collar crimes are nonviolent crimes motivated by monetary gain and include Embezzlement, Corporate Fraud and Money Laundering among many others. The activities initiated with an intent to create a gain for an individual or an organization through unlawful and false methods fall under the category of Corporate fraud.
Among various white-collar crimes, ‘Corporate Fraud’ is of serious concern due to its intricate nature and its consequences which negatively affect the organization and its stakeholders, especially the customers, employees and the society at large. Since Corporate Fraud is frequently disguised as legitimate transaction hidden behind existing business practices, it may at times prove difficult to detect and prevent completely. Yet through effective procedures and process, routine inspections, and frequent upgrades to the training of personnel, organizations and governments can effectively deter corporate fraud and counter its consequences.
Fraud detection cannot be only based on technology or processes, instead, it needs a comprehensive strategy that requires human involvement, along those lines.
This training course will empower you to recognize the root causes of fraud and white-collar crime in the current economy, understand the categories of fraud, equip you with methodologies of fraud detection and prevention, and heighten your ability to detect potential fraudulent situations.
In addition to the fundamentals of fraud investigation and detection in a digital environment; profit-loss evaluation, analysis of accounting books, legal concepts, and quantification of financial damages are also examined in this course.
This workshop is therefore designed to equip managers to understand the financial state of affairs of the organization and how to add financial value by effective use of Management Accounts.
- The Scope and development of Accounting in the management of financial resources.
- The role of accounting information in decision making
- Preparation of Accounting Information for management and qualities of good management accounting reports
- Types of management financial reports
- Use of Management Accounts for effective decision making-make, buy, lease decision etc
- Assessment of organization’s performance
- Planning, Control and Responsibility Accounting
- Accounting date and pricing decisions
- Investment appraisal techniques
- Performance measurement in divisionalised organizations
- Financial statement analysis-Horizontal analysis, vertical analysis and ratio analysis
- Reporting Internal control Weaknesses
- Cost classification ad Administration
- Cash planning including Statement of Sources and Application for funds and Cash flow statements.
- Budgeting as planning and control tool, capital budgeting for decision making etc
- Management Accounting in a total quality management environment.
Introduction to Forensic Accounting and Fraud Examination
• Fundamentals of accounting practices
• The essentials of forensic examination
• Responsibilities of accounting investigators and auditors
• The forensic accounting legal environment
Understanding Corporate Fraud
• Synopsis of white-collar crimes
• Overview of effective fraud investigation
• Types of corporate fraud
• Psychology of the fraudster profile
• The Fraud Triangle theory
• Implication of corporate fraud to internal and external stakeholders
Examination of Financial Statements and Analytical Techniques
• Scope and types of financial statement frauds
• Analysis of financial statements and audit reports
• Horizontal and vertical analysis
• Financial ratio analysis
• Anomaly detection to identify nonconformities
The Fraud Investigation and Engagement Processes
• Techniques for recognizing the symptoms of fraudulent behaviour
• Review of the investigation process and case initiation
Evidence collection techniques
• Gathering and Assessing Observational Evidence
• Gathering and Assessing Financial Evidence
• Gathering and Assessing Non-Financial Evidence
Who should Attend?
• Directors, Board Members, Chief Financial Officers and other members constituting the top management of an organization – to thoroughly understand critical aspects of Corporate fraud, Forensic Auditing and Accounting.
• Auditors and Financial professionals responsible for ensuring transparency and integrity of processes and accounting records.