Course Details
Course Outline
5 days course
Financial Accounting Review
- Structure of financial reports
- Regulation of financial reporting
- Financial reporting standards
- The Analysis of Financial Reports
- Detecting bias in accounting numbers
- Qualitative analysis: what people say and what they might mean
Creative Accounting
- What is creative accounting and why is it a bad thing?
- Inappropriate accruals, estimates, and excessive provisions
- Identifying premature revenue recognition and fictitious revenue
- Aggressive capitalisation
- Creative income statements: classification and disclosure
- Problems with cash flow reporting
Forensic Accounting
- The basics of forensic accounting
- The need for Sarbanes-Oxley
- The going concern concept in greater detail
- Cases in which forensic accounting was used
- Off balance sheet finance
- Introduction to Benford’s Law
The role of the auditor nd detecting fraud
- The Role of the Auditor in the Prevention and Detection of Fraud
- Deterring Fraud – The fraud triangle
- The COSO “Internal Control – Integrated Framework,” (COSO Model)
- 20 ways to detect fraud
- Identifying fraud using time series analysis
- Fraud risk assessments
Tools for Detecting Fraud
- Further Statistical Analysis of accounting and other data
- Further application of Benford’s Law
- Chi Square and Kolmogorov Smirnoff Tests
- Mean Absolute Deviation test
- Mantissa Arc Test
