Page 31 - Verracy's 2019 Course Catalogue

Leveraging Data Analytics to Fight Fraud Developing Effective Continuous Audits
HANDS ON

DA-103 DA-104
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CPEs CPEs
If robust data analytics programs existed 20 years ago, would The demand on Internal Audit to deliver more—detailed risk
Enron, WorldCom, or the countless other major corporate fraud assessments, fraud detection, root cause analysis,and more—
scandals ever have reached the magnitude they did? Would they often without increased staffing or budget puts tremendous
have occurred at all? All organizations are subject to fraud risk. pressure on the audit team. Auditors frequently face questions
Association of Certified Fraud Examiners (ACFE) studies show that like: How do we increase the number of audits this year and
an average of 5% of revenue is lost to internal fraud schemes. ensure a quality deliverable without increasing staff or budget?
Utilizing effective data analytics as part of an organization’s fraud These demands require us to challenge our audit techniques
management program can reduce the fraud scheme’s average du- and begin to leverage technology in our controls testing.
ration from 18 months to mere weeks, or in some cases, eliminate
it. More importantly, a robust fraud data analytics program can be This hands-on workshop will use one of the leading data analy-
the strongest deterrent in an organization. tics tools to perform real controls testing while learning to de-
sign a continuous audit from scratch without having to be a
This course will introduce the participants to the techniques programmer. We will take a common manual test performed
currently being used by leading data analytics programs through the same way for years in most organizations and learn to auto-
the use of case studies, best practices, and interactive exercises. mate it. Participants will perform all the required steps to fully
Participants will gain a basic understand of fraud, how it occurs automate the process and create a continuous audit. Partici-
in organizations, and the specific techniques used to identify and pants will complete the course having created a continuous
quantify fraud. audit that runs when needed.

Bonus: all registered attendees will receive a trial version of
the software and best practice templates.

What You Will Learn: What You Will Learn:
• Understanding the Fraud Triangle • Importance of planning objectives
• Learning fraud fundamentals • Determining the level of effort for each of the four stages
• Understanding the characteristics of fraudsters of data analytics progression
• Learning how to identify the red flags of fraud • Learning how to execute a data discovery walkthrough
• Learn specific fraud detection methodologies using data • Designing a continuous audit from a manual test based
analytics on a sampling approach
• Understand trends and patterns in fighting fraud • Developing new tests to support control objectives
• Learning how to transition to continuous monitoring
• Documenting your work without words

Group Live | 2 Days | Intermediate | Auditing Group Live | 2 Days | Advanced | Auditing
Who Should Attend: Internal Audit, Accounting & Operations Who Should Attend: Professionals with Data Analytics
Staff & Management Experience
Prerequisites: Fraud schemes and computer-based auditing Prerequisites: Automating Data Analytics course or equivalent
knowledge experience

+1 (877) 332-8708 | verracy.com/training