Understanding and Investigating Investment Fraud – Virtual
Fraud: it’s the five letter word that keeps audit professionals up at night. Despite nearly-constant regulatory reforms, the evolution of technology and improved transparancy, investment frauds continue to riddle financial headlines. Jim Chanos, the short-seller who called Enron’s demise (and notably has recently denied embezzlement claims by his former firm), has even deemed the post-pandemic era as the ‘golden age of fraud’. There is no time like the present to make sure your investment audits are adequately addressing fraud risk.
Join us for this newly developed course where we will review common characteristics in the most notorious investment frauds, identify critical controls to prevent and detect fraud and discuss where and how to incorporate fraud detection into your investment audit programs so you can rest easier.
COURSE FEATURES
- Analyze the most prevelant control lapses and oversights in investment fraud including: breakdowns in risk management controls, gaps in back office operations, lack of segregation of duties, speculation disguised as hedging strategies, lack of system controls, weak compliance systems.
- Learn key red flags to watch for, the most critical controls in the Front, Middle, and Back Offices and the most common reportable audit findings, such as: rogue trader concerns, valuation misstatements, manipulation of reports, counterparty/broker dealer conflicts, and insider trading.
- Review the key policies, processes, and controls to have in place throughout the Front, Middle, and Back Offices to help protect your organization against some of the common denominators of investment frauds.
- Discuss the importance of effective compliance programs and risk management functions to quickly detect potential unauthorized investments and derivatives that may be the work of a rogue trader.
COURSE OUTLINE:
Corporate Fraud Overview
- Defining corporate fraud
- Who are the fraudsters?
- Why do they commit fraud?
- What should we look for?
- The Fraud Triangle and ‘Control Fraud’ in Investment Fraud
Overview: Investment Fraud Case Studies
- How the frauds were executed and how they unraveled
- Common denominators and red flags in Investment Fraud
- Were internal controls weak or were they ignored?
Detecting Investment Fraud: What is an Auditor to do?
- Management Oversight
- Market and credit risk management practices
- Liquidity risk management practices
- Operational and compliance controls
| Course Duration: | 1 day(s) |
| CPE Hours Available: | 8 |
| Field of Study: | Auditing (4), Specialized Knowledge (4) |
| Program Level: | Intermediate |
| Prerequisites: | General Knowledge of Audit & Investments |
| Advance Preparation: | None required |
| Delivery Method: | Group-Internet Based |
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Investment Training and Consulting Institute, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credits. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. |
| Attendance Requirements: | In order to be awarded the full CPE hours, attendees must complete at least 3 attendance monitoring mechanisms (codewords, polls, etc) per CPE hour. |
| Policy Information: | For more information regarding how to register for a course, refund, program cancellation, complaint policies and other frequently asked questions, please visit our Q&A page or contact our office at 785-783-8201. |
Hourly Schedule
Day 1 - Agenda
- 8:30am - 4:30pm
- Day 1 - Understanding and Investigating Investment Fraud
- Day 1 of the course will start at 8:30am and end at 4:30pm Central Time.
Date
- Dec 10 2024
- Expired!
Time
Central Time (Chicago)- 8:30 am - 4:30 pm
Cost
- $895
Location
Speaker
-
Barbara DavisonCEO, President and Audit PrincipalBarbara Davison is currently CEO, Audit Principal and Board Chair of the Investment Training and Consulting Institute, Inc. (ITCI), located in Overland Park, Kansas. ITCI provides training and consulting in the areas of Investments, Derivatives, and Risk Management to Management, Operations and Auditors.
Barbara is a distinguished faculty leader for the International Institute of Internal Auditors, where she has served for more than 25 plus years. She is a Certified Internal Auditor, Certified Information System Auditor, Certified Investments and Derivatives Auditor, a Fellow of the Life Management Organization and the author of five books on investment and derivative auditing: “Auditing Investment Activities,” “Auditing Derivatives Strategies,” “Auditing Merger and Acquisitions Strategies,” “Understanding and Auditing Investments and Derivatives,” and “The CIDA Review Book.” Barb has obtained her Series 7 and Series 65 from the National Association of Security Dealers (NASD).
Previously, Barbara was vice president of a financial institution where she directed investment operations for the general account and mutual funds. Her responsibilities also included portfolio management of two mutual funds, which were part of a $7 billion portfolio. Prior to her seven years in investments, Barbara was Manager of Internal Audit for six years, where she was responsible for the management of corporate audit activities, computer security, information systems audits and assisted in new business strategies.
