Detecting Financial Statement Fraud | Forensic Accounting

Learn Financial Statement Fraud Schemes like Fictitious Revenue, Timing Difference and Analytical technique.

What you'll learn

Identify Frauds in Financial Statements

Understand the 5 Fraud Schemes in Financial Statement Frauds

Identification of Red Flags of the Financial Statement Fraud Schemes

Learn The Key Ratios & Parameters to detect Financial Statement Frauds

Learn Fraud Prevention Techniques

Requirements

Basic understanding of accounting

Basic ability to interpret financial statements

Description

Financial Statement Frauds constitute one of the highest median loss in occupational fraud landscape. As per Reports To The Nation Survey, 2022, published by The Association of Certified Fraud Examiners (ACFE), Financial Statement Fraud Schemes constitute 9% of the total fraud and a median loss of $593000.  The top management (CXOs) are primarily responsible for such frauds. Not having ethical tone at the top and managements power to override existing controls contribute to such frauds.You will learn the following in this course:What is financial statement fraud?The Fraud TreeThe Fraud Triangle by Dr. Donald Cressey which includes:Pressure OpportunityRationalizationFictitious RevenueRed Flags to identify Fictitious RevenueTiming DifferencesRed Flags to identify Timing DifferencesImproper Asset ValuationRed Flags to identify Improper Asset ValuationConcealed Liabilities & Expenses Red Flags to identify Concealed Liabilities & Expenses Improper DisclosuresRed Flags to identify Improper DisclosuresHow to analyse Financial StatementsVertical AnalysisHorizontal AnalysisRatio AnalysisTax Return AnalysisPrevention of Financial Statement FraudsSimple techniques and examples, illustrations have been used in an immersive way to enhance learner experience. Concepts are explained in a lucid manner enabling beginners to CXOs to understand the frauds perpetrated in financial statements.

Overview

Section 1: Introduction

Lecture 1 Introduction

Section 2: Financial Statement Fraud

Lecture 2 What Is Financial Statement Fraud?

Lecture 3 The Fraud Tree

Lecture 4 The Fraud Triangle

Lecture 5 Fictitious Revenue

Lecture 6 Timing Differences

Lecture 7 Improper Asset Valuations

Lecture 8 Concealed Liabilities & Expenses

Lecture 9 Improper Disclosures

Section 3: Financial Statement Analysis

Lecture 10 What Is Financial Statement Analysis?

Lecture 11 Vertical Analysis

Lecture 12 Horizontal Analysis

Lecture 13 Ratio Analysis

Lecture 14 Tax Return Analysis

Lecture 15 Prevention Of Financial Statement Fraud

Section 4: Conclusion

Lecture 16 Conclusion

Finance enthusiasts interested in Forensic Accounting,Aspiring Certified Fraud Examiners,Management Professionals specialising in Forensic Accounting,Chartered Accountants, Cost Accountants, Company Secretaries