P7 forensic auditing

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  • P7 forensic auditing

    1. 1. FORENSICACCOUNTING
    2. 2. FORENSICACCOUNTING Includes Forensic Auditing & Investigations
    3. 3. FORENSICACCOUNTING
    4. 4. FORENSICACCOUNTING EXAMINE FINANCIAL MATTERS PROVIDE ANALYSIS FOR LEGAL DISPUTESLOOK BEYOND INTERPRET COMPLEXITIES COMMUNICATE IN NUMBERS COURT
    5. 5. FORENSICINVESTIGATIONSFRAUD INVESTIGATIONSEg Tax Evasion
    6. 6. FORENSICINVESTIGATIONSFRAUD INVESTIGATIONSEg Tax EvasionInsider Dealing
    7. 7. FORENSICINVESTIGATIONSFRAUD INVESTIGATIONSEg Tax EvasionInsider DealingTrace funds & Assets
    8. 8. FORENSICINVESTIGATIONSFRAUD INVESTIGATIONS INSURANCE CLAIMS PROFESSIONAL NEGLIGENCEEg Tax EvasionInsider DealingTrace funds & AssetsDue Diligence &ReviewsDISPUTESEg. Partnerships
    9. 9. FORENSICINVESTIGATIONSFRAUD INVESTIGATIONS INSURANCE CLAIMS PROFESSIONAL NEGLIGENCEEg Tax EvasionInsider DealingTrace funds & AssetsDue Diligence &ReviewsDISPUTESEg. PartnershipsDivorce
    10. 10. FORENSICINVESTIGATIONSFRAUD INVESTIGATIONS INSURANCE CLAIMS PROFESSIONAL NEGLIGENCEEg Tax EvasionInsider DealingTrace funds & AssetsDue Diligence &ReviewsDISPUTESEg. PartnershipsDivorceDetailed Analysis
    11. 11. FORENSICINVESTIGATIONSFRAUD INVESTIGATIONS INSURANCE CLAIMS PROFESSIONAL NEGLIGENCEEg Tax Evasion Eg Property LossInsider DealingTrace funds & AssetsDue Diligence &ReviewsDISPUTESEg. PartnershipsDivorceDetailed AnalysisTrace Funds &Evaluate Assets
    12. 12. FORENSICINVESTIGATIONSFRAUD INVESTIGATIONS INSURANCE CLAIMS PROFESSIONAL NEGLIGENCEEg Tax Evasion Eg Property LossInsider Dealing Medical MalpracticeTrace funds & AssetsDue Diligence &ReviewsDISPUTESEg. PartnershipsDivorceDetailed AnalysisTrace Funds &Evaluate Assets
    13. 13. FORENSICINVESTIGATIONSFRAUD INVESTIGATIONS INSURANCE CLAIMS PROFESSIONAL NEGLIGENCEEg Tax Evasion Eg Property LossInsider Dealing Medical MalpracticeTrace funds & Assets Detailed PolicyDue Diligence & ReviewReviewsDISPUTESEg. PartnershipsDivorceDetailed AnalysisTrace Funds &Evaluate Assets
    14. 14. FORENSICINVESTIGATIONSFRAUD INVESTIGATIONS INSURANCE CLAIMS PROFESSIONAL NEGLIGENCEEg Tax Evasion Eg Property Loss Eg Loss throughInsider Dealing Medical Malpractice professional adviceTrace funds & Assets Detailed PolicyDue Diligence & ReviewReviews Quantify LossDISPUTESEg. PartnershipsDivorceDetailed AnalysisTrace Funds &Evaluate Assets
    15. 15. FORENSICINVESTIGATIONSFRAUD INVESTIGATIONS INSURANCE CLAIMS PROFESSIONAL NEGLIGENCEEg Tax Evasion Eg Property Loss Eg Loss throughInsider Dealing Medical Malpractice professional adviceTrace funds & Assets Detailed Policy Merits of CaseDue Diligence & ReviewReviews Quantify LossDISPUTESEg. PartnershipsDivorceDetailed AnalysisTrace Funds &Evaluate Assets
    16. 16. FORENSICINVESTIGATIONSFRAUD INVESTIGATIONS INSURANCE CLAIMS PROFESSIONAL NEGLIGENCEEg Tax Evasion Eg Property Loss Eg Loss throughInsider Dealing Medical Malpractice professional adviceTrace funds & Assets Detailed Policy Merits of CaseDue Diligence & Review Quantify LossReviews Quantify LossDISPUTESEg. PartnershipsDivorceDetailed AnalysisTrace Funds &Evaluate Assets
    17. 17. FORENSIC AUDITINGUSE AUDIT SKILLSFOR LEGAL SITUATIONSIDENTIFY & GATHER EVIDENCEEG. HOW FRAUD CONDUCTED, MOTIVES, INTERVIEWS
    18. 18. RE PO R EX TS H IB DO ITS C U M EN TS TE WHATSBE ST EX IF PE Y RT W IT N /REQUIRED ES S IF RE LE H V AV AN E T EX PE R H TIS AV E E EX & PE TR RI AI EN N C IN E G
    19. 19. CONDUCTING AN INVESTIGATION 6
    20. 20. CONDUCTING AN INVESTIGATION • ACCEPT IT (skills? Interview training? Safe custody of evidence, legal framework, NOT if audit client) 6
    21. 21. CONDUCTING AN INVESTIGATION • ACCEPT IT (skills? Interview training? Safe custody of evidence, legal framework, NOT if audit client) • PLAN IT (identify type of fraud, how long, how concealed, who, quantify loss, gather court evidence, advise on how to stop it 6
    22. 22. CONDUCTING AN INVESTIGATION • ACCEPT IT (skills? Interview training? Safe custody of evidence, legal framework, NOT if audit client) • PLAN IT (identify type of fraud, how long, how concealed, who, quantify loss, gather court evidence, advise on how to stop it • GATHER EVIDENCE (caats, AP, Substantive, Interviews, no gaps in custody) 6
    23. 23. ETHICAL CONSIDERATIONS OBJECTIVITY Pressure to say things in court in client’s interest
    24. 24. ETHICAL CONSIDERATIONS OBJECTIVITY Pressure to say things in court in client’s interest
    25. 25. ETHICAL CONSIDERATIONS OBJECTIVITY PROFESSIONAL Pressure to say things COMPETENCE in court in client’s Need skills to gather evidence interest & Legal knowledge May also be a self
    26. 26. ETHICAL CONSIDERATIONS OBJECTIVITY PROFESSIONAL Pressure to say things COMPETENCE in court in client’s Need skills to gather evidence interest & Legal knowledge Presentation skills for court May also be a self too CONFIDENTIALITY Disclose everything to court
    27. 27. ETHICAL CONSIDERATIONS OBJECTIVITY PROFESSIONAL Pressure to say things COMPETENCE in court in client’s Need skills to gather evidence interest & Legal knowledge Presentation skills for court May also be a self too CONFIDENTIALITY PROFESSIONAL Disclose everything to BEHAVIOUR court Act in the public interest Say nothing outside of court
    28. 28. ETHICAL CONSIDERATIONS OBJECTIVITY PROFESSIONAL Pressure to say things COMPETENCE in court in client’s Need skills to gather evidence interest & Legal knowledge Presentation skills for court May also be a self too CONFIDENTIALITY PROFESSIONAL Disclose everything to BEHAVIOUR court Act in the public interest Say nothing outside of court Reputation risk if not
    29. 29. CONDUCTINGFORENSICINVESTIGATIONSEVIDENCELOCATE DOCUMENTS /ASSETS / COMPANIES
    30. 30. CONDUCTINGFORENSICINVESTIGATIONSEVIDENCELOCATE DOCUMENTS /ASSETS / COMPANIES
    31. 31. CONDUCTINGFORENSICINVESTIGATIONSEVIDENCELOCATE DOCUMENTS /ASSETS / COMPANIESPROOF OF EVENTS
    32. 32. CONDUCTINGFORENSICINVESTIGATIONSEVIDENCELOCATE DOCUMENTS /ASSETS / COMPANIESPROOF OF EVENTS
    33. 33. CONDUCTINGFORENSICINVESTIGATIONSEVIDENCELOCATE DOCUMENTS /ASSETS / COMPANIESPROOF OF EVENTSINTERVIEW
    34. 34. CONDUCTINGFORENSICINVESTIGATIONS EVIDENCELOCATE DOCUMENTS /ASSETS / COMPANIESPROOF OF EVENTSINTERVIEWDUE DILIGENCEEVALUATION OFEVIDENCEEconomic damages -using sensitivityanalysis, npvs,
    35. 35. CONDUCTINGFORENSICINVESTIGATIONS EVIDENCELOCATE DOCUMENTS /ASSETS / COMPANIESPROOF OF EVENTSINTERVIEWDUE DILIGENCEEVALUATION OFEVIDENCEEconomic damages -using sensitivityanalysis, npvs,Using charts & graphsto present
    36. 36. FORENSIC INVESTIGATION / AUDITREPORTS key Issues Terms & scope of assignment
    37. 37. FORENSIC INVESTIGATION / AUDITREPORTS key Issues Terms & scope of assignment Approach used
    38. 38. FORENSIC INVESTIGATION / AUDITREPORTS key Issues Terms & scope of assignment Approach used Limitations of scope
    39. 39. FORENSIC INVESTIGATION / AUDITREPORTS key Issues Terms & scope of assignment Approach used Limitations of scope Findings / Opinion
    40. 40. FORENSIC INVESTIGATION / AUDITREPORTS key Issues Terms & scope of assignment Approach used Limitations of scope Findings / OpinionFORENSIC EXPERTREPORTS
    41. 41. FORENSIC INVESTIGATION / AUDIT REPORTS key Issues Terms & scope of assignment Approach used Limitations of scope Findings / OpinionFORENSIC EXPERTREPORTS key Issues
    42. 42. FORENSIC INVESTIGATION / AUDIT REPORTS key Issues Terms & scope of assignment Approach used Limitations of scope Findings / OpinionFORENSIC EXPERTREPORTS key Issues Qualifications & Experience
    43. 43. FORENSIC INVESTIGATION / AUDIT REPORTS key Issues Terms & scope of assignment Approach used Limitations of scope Findings / OpinionFORENSIC EXPERTREPORTS key Issues Qualifications & Experience Info used
    44. 44. FORENSIC INVESTIGATION / AUDIT REPORTS key Issues Terms & scope of assignment Approach used Limitations of scope Findings / OpinionFORENSIC EXPERTREPORTS key Issues Qualifications & Experience Info used Statement of Material Facts (basis of opinion)
    45. 45. FORENSIC INVESTIGATION / AUDIT REPORTS key Issues Terms & scope of assignment Approach used Limitations of scope Findings / OpinionFORENSIC EXPERTREPORTS key Issues Qualifications & Experience Info used Statement of Material Facts (basis of opinion) 3rd party info was supervised
    46. 46. FORENSIC INVESTIGATION / AUDIT REPORTS key Issues Terms & scope of assignment Approach used Limitations of scope Findings / OpinionFORENSIC EXPERTREPORTS key Issues Qualifications & Experience Info used Statement of Material Facts (basis of opinion) 3rd party info was supervised Statement of Understanding (reasons for involvement & implications)

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