About

Recent business failures in New Zealand and around the world have caused many to rethink the value of the audit, with many demanding that auditors take more responsibility for fraud detection. Forensic accounting requires the integration of investigative, accounting and auditing skills to assist in disputes involving financial issues and data.

The course helps you understand how financial fraud occurs and what to do when you find or suspect it within your organisation. With comprehensive coverage, it provides insightful advice on where an organisation is most susceptible to fraud.

You will be taken through case studies and practical exercise to hone your skills in identifying fraudulent situations. You will learn to detect weaknesses and take the necessary steps to improve prevention through new types of forensic accounting methodology used to support and verify existing systems. 

Key Learning Objectives:
• Gain insight and practical solutions to prevent fraud
• Make the business case for fraud audit to senior management
• Explore forensic accounting and review fraud risks/common risk areas

Outline

Forensic accounting and fraud detection
• The fraud cycle/triangle
• The nature and scope of fraud
• Who commits fraud and why
• Fraud schemes
• Global best practice in the prevention of fraud detection
• Latest legislation and case law

Keys to effective fraud detection in the accounting system and financial performance
• Reviewing fraud risk analysis and common risk areas
   - Cash and cheques
   - Accounts payable and accounts receivable
   - Insurance cover
   - Identity related fraud
   - Securities and investment
   - Procurement fraud
• Fraud detection model
• Identifying common red flags
• Detecting fraud using financial analysis

Money laundering
• Money laundering methods and trends
• Anti-Money Laundering and Countering Financing of Terrorism Act 2009
• The role of cash vs other payment methods in money laundering schemes
• Requirements and recommendations of the Financial Action
• Task Force (FATF)
• Processes in monitoring money laundering transactions and reporting

Legal issues
• Evidence gathering process
• Statutory law, common law, the laws of evidence and procedure

Ethics and corporate governance
• Responsibilities of board of directors, management and auditors in preventing and detecting fraud
• Fraud risk management strategies/policies/processes
• Ethical organisations

Utilisation of technology for fraud prevention and detection
• The role of IT security in preventing fraud
• Using data analytics to identify fraud
• PCI DSS (Payment Card Industry Data Security Standard)

Computer forensics
• Investigating fraud through the use of computer forensics
• How computer forensics can be of benefit
• What to do if you suspect the use of IT systems to perpetrate fraud

Bribery and corruption
• New Zealand legislation and experience
• International legislation and experience

Facilitators

Stephen Bell , Partner – Forensic Services, KPMG Advisory

Stephen is the National Head of the Forensic Practice within KPMG’s Risk Advisory Services division, and he is based in Auckland.
 
Prior to becoming National Head, Stephen led KPMG’s Dispute Advisory Services division in New York and has significant international experience providing litigation support and expert witness service to clients and their counsel in civil litigation, commercial disputes and regulatory investigations and inquiries. He also specialises in fraud and misconduct investigations, forensic due diligence investigations, financial reporting investigations  and restatements.
 
Stephen has provided accounting, investigative, dispute resolution and expert services, arbitration and computer forensic services to clients across a number of industries.

Blair Bulloch, Senior Manager – Forensic Services, KPMG Advisory

Blair is a senior member of KPMG’s Forensic Practice and is based in Auckland.

Blair is experienced in a range of accounting disciplines including forensic accounting, tax consulting, financial accounting and management accounting.  He has worked in different jurisdictions including South Africa and the United Kingdom.

Prior to joining KPMG worked as a Case Manager and Forensic Accountant for New Zealand’s Serious Fraud Office managing multi-disciplinary teams to investigate New Zealand’s most serious fraud cases. Blair has extensive experience in investigative techniques, interviewing techniques, forensic financial analysis, and preparing investigations for court.

 



In-house Training