Mastering Financial Reviews and Fraud Identification: A Complete Programme
Course Overview
Fraud—including accounting fraud—represents a major threat to corporate integrity, transparency, and shareholder trust. This programme explores the foundations of financial accounting, the mechanisms of fraudulent reporting, and the modern tools used to identify and prevent fraud. With a strong quantitative emphasis, participants will learn how to critically review financial reports, detect creative accounting practices, and apply statistical and forensic techniques for fraud detection.
Special focus is placed on **cases and data from the Oil & Gas Industry**, while maintaining confidentiality and professional integrity throughout.
Learning Objectives
By the end of this programme, participants will be able to:
* Understand the structure and foundations of financial reporting.
* Conduct analytical and critical reviews of financial statements.
* Identify creative accounting techniques and their red flags.
* Apply forensic accounting approaches, including Benford’s Law, to detect fraud.
* Recognise the auditor’s role in fraud prevention and detection.
* Use predictive modelling and data mining techniques in fraud identification.
* Perform statistical and quantitative tests to uncover irregularities in accounting data.
* Apply fraud detection frameworks to real-world business challenges.
Programme Outline
Day One – Financial Accounting Review
* Background to financial reporting
* Structure and regulation of financial reports
* Key accounting legislation and reporting standards
* Concepts, conventions, and frameworks in financial reporting
* Analytical tools: ratio analysis, statistical and graphical techniques
* Detecting bias in accounting numbers
* Qualitative analysis: interpreting statements vs. intent
* **Case focus**: Oil & Gas industry reporting standards and data
Day Two – Creative Accounting: Manipulation and Red Flags
* Understanding earnings management and accrual manipulation
* Excessive provisions and premature revenue recognition
* Fictitious revenues and aggressive capitalization practices
* Creative income statements: classification and disclosure issues
* Weaknesses in cash flow reporting
* **Case studies from the energy sector**
Day Three – Forensic Accounting and Benford’s Law
* The going concern concept and implications
* Real-world applications of forensic accounting
* Off-balance sheet finance practices
* Introduction to **Benford’s Law** for fraud detection
* **Case examples from the energy sector**
Day Four – The Auditor’s Role in Fraud Prevention and Detection
* Role of the auditor in fraud prevention and detection
* Fraud deterrence and the **fraud triangle (Why? Who? How?)**
* The **COSO Internal Control Framework**
* 20 proven methods to detect fraud
* Differentiating fraud from errors
* Fraud detection as a predictive modelling problem:
* Rare event prediction
* Stratified sampling methods
* Outlier and anomaly detection
* Data mining and text mining techniques
* Time series analysis for fraud detection
* Fraud risk assessments
Day Five – Advanced Fraud Detection Techniques
* Advanced statistical analysis of financial data
* Grouping, ordering, and correlation analysis
* Regression analysis and hypothesis testing
* Extended applications of **Benford’s Law**
* Statistical tests for fraud detection:
* Chi-Square Test
* Kolmogorov-Smirnov Test
* Mean Absolute Deviation (MAD) Test
* Mantissa Arc Test
* Second Order & Summation Tests
* Final **case study and group discussion**: applying techniques to participants’ own industries and experiences
Enquiries and Registration
Enquiry at : admin@keleaders.com
Whatsapp: 0044 790 125 9494
For more details visit our website : www.keleaders.com
