Review of Financial Accounting and Detecting Fraud Training in Kuala Lumpur , Malaysia
Course Code : FBA131 - Course Address : Westin Kuala Lumpur Hotel - Course Fees : 4450 GBP
City | Start Date | End Date | View |
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Kuala Lumpur , Malaysia | 17 - 12 - 2023 | 21 - 12 - 2023 |
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Kuala Lumpur , Malaysia | 14 - 1 - 2024 | 18 - 1 - 2024 |
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Kuala Lumpur , Malaysia | 25 - 2 - 2024 | 29 - 2 - 2024 |
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Kuala Lumpur , Malaysia | 3 - 3 - 2024 | 7 - 3 - 2024 |
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Kuala Lumpur , Malaysia | 28 - 4 - 2024 | 2 - 5 - 2024 |
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Course Description
Intorduction
Fraud, including accounting fraud, accounts for significant activity by the criminal classes and this seminar sets out to explain what accounting fraud is, how it can be detected and therefore how it might be prevented.
A large emphasis of this programme is quantitative since accounting is a quantitative subject and auditors and others need a quantitative perspective on their work.
The cases and data coming from the Oil and Gas Industry will be used at relevant places in the seminar. Delegates are highly encouraged to be ready to discuss their own concerns although it is appreciated that confidentially is a supreme concern in a seminar such as this.
Objectives
- Discuss the structure and foundations of financial reporting
- Undertake an initial analytical and critical review of financial reports
- Be aware of creative accounting and how it can be determined
- Determine the need for forensic accounting by means of case study and other analysis
- Appreciate the nature or Benford’s Law and its increasingly important role in the prevention and detection of fraud
- Discuss the role of the auditor in detecting fraud
- Applying predictive modelling to the fraud problem
- Carrying out a variety of statistical tests on financial reports and accounting data
Day One
Financial Accounting Review
- The Background to Financial Reporting
- Structure of financial reports
- Regulation of financial reporting
- Legislation
- Financial reporting standards
- Concepts and conventions
- The framework
- The Analysis of Financial Reports
- Ratio analysis
- Statistical and graphical analysis of financial reports: how can fixed costs be less than zero?
- Detecting bias in accounting numbers
- Qualitative analysis: what people say and what they might mean
Oil and Gas Company Reporting Standards and data will feature significantly in this section
Day Two
What is creative accounting and why is it a bad thing?
- Earnings management
- Inappropriate accruals and estimates
- Excessive provisions
- Recognizing premature revenue recognition
- Fictitious revenue
- Aggressive capitalization
- Creative income statements: classification and disclosure
- Problems with cash flow reporting
Cases from the energy sector will be used here
Day Three
- The basics of forensic accounting
- The going concern concept in greater detail
- Cases in which forensic accounting was used
- Off balance sheet finance
- Introduction to Benford’s Law
Cases from the energy sector will be used here
Day Four
The Role of the Auditor and Detecting Fraud
- The Role of the Auditor in the Prevention and Detection of Fraud
- Deterring Fraud
- The fraud triangle
- Why?
- Who?
- How?
- The fraud triangle
- The COSO “Internal Control – Integrated Framework,” (COSO Model)
- 20 ways to detect fraud
- Fraud v Erroneous Claims
- Fraud Detection as a Predictive Modeling Problem
- Predicting rare events
- Predictors
- Stratified sampling
- Stratified random sampling
- Outliers
- Data mining
- Text mining
- Identifying fraud using time series analysis
- Fraud risk assessments
Day Five
Detecting Fraud
- Further Statistical Analysis of accounting and other data
- Grouping
- Ordering
- Correlation and regression analysis
- Hypothesis testing
- Further application of Benford’s Law
- Chi Square and Kolmogorov Smirnoff Tests
- Mean Absolute Deviation (MAD) test
- Mantissa Arc Test
- Second Order and Summation Tests
- Summary case study of the main learning points of the seminar: delegates will be expected to bring their own experiences and learning highlights to this final discussion
Where will the course be held?
The course will be held in Jalan Conlay. The exact address and directions will be provided to all enrolled participants prior to the start of the course.
What topics will be covered in the course?
The course will cover a range of topics related to the subject matter, including but not limited to the topics of outlines. By the end of the course, you'll have a solid understanding of the key concepts and techniques in the field, and be able to apply them to real-world situations. Detailed course outlines and learning objectives will be provided to all enrolled students prior to the start of the course.
What is the schedule for the course?
The course is expected to run for 3 hours daily. The exact schedule and timing will be confirmed and communicated to all enrolled students via email at least 2 days prior to the course start date.
What do I need to bring to the course?
All you need to bring is yourself, a notepad or laptop for taking notes, and a willingness to learn! We'll provide pens, paper, and any required textbooks or handouts.
What is the instructor's background and experience?
Our instructors are seasoned industry professionals with over 10 years of experience in the field. They hold a master's degree in the subject matter and have a proven track record of success working with trainees of all levels. You'll have plenty of opportunities to ask questions and get feedback throughout the course.
What are the T&C for this course?
Please visit our Terms and Conditions page
What kind of certificate will I receive upon completion of the course?
Upon completion of the course, you will receive an attendance certificate indicating that you have completed the course. This certificate is not accredited or recognised by any particular institution or organisation, but it can be used to demonstrate your commitment to continuing education and professional development.