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Fraud Auditing Using ACL

Course Description

Print-friendly Course Description and Outline

​This course will define the linkage between CAATs (Computer-Assisted Audit Techniques) work and the fraud risk assessment. Attendees will also learn how to effectively use ACL’s fraud applications efficiently to analyze data and detect fraud. This course is a joint effort between The IIA and Deloitte & Touche.

Course Duration: 2 day(s)
CPE Hours Available: 18
Knowledge Level: Intermediate
Field of Study: Auditing
Prerequisites: 

​None

Advance Preparation: 

​None

Delivery Format: On-site Training (Group-Live)

​Integrating Automated Audit Techniques into the Internal Audit Approach

  • Define fraud and list fraud statistics
  • List reasons why companies need to manage fraud risk
  • Discuss Internal audit stakeholder expectations pertaining to the identification of fraud (expectation gap)
  • Describe opportunities to integrate automated auditing techniques into the internal audit approach and linkage to the overall fraud risk assessment
  • Discuss traditional audit techniques and inherent weaknesses when it comes to detecting fraud - sampling vs. complete population & multi-platform environments (interfaces between systems)
  • Discuss benefits of using technology to analyze data

Data Basics (What is Available and How Do You Get it?)

  • Discuss the importance of linking datasets to audit objectives (i.e. identification of possible fraud)
  • Describe the importance of knowing a company's IT systems and the data which is collected and stored
  • Describe some essential steps in assessing the availability of data

CAATS Overview

  • Definition of CAATS
  • Discuss the main components of a data analysis tool
  • List the main tools commonly used for data analysis
  • Display comparison charts (although there are many tools, we will use ACL for this class)

ACL Basics

  • ACL Overview
  • Manipulating Data
  • Accessing Data
  • Defining Data Files

Advanced ACL Techniques

  • Understanding Functions
  • Scripting in ACL
  • Internal Audit and Continuous Transaction Monitoring

o Define continuous monitoring
o List steps to prepare for continuous monitoring
o Implement continuous monitoring using ACL

Using CAATS to Identify Anomalies and Possible Fraud

  • Describe the types of fraud and fraud schemes
  • Fraud in financial reporting

o Define financial reporting fraud, including schemes and symptoms
o Describe fictitious revenue schemes
o Describe revenue timing differences schemes
o Describe understated liabilities and expenses schemes

  • Misappropriation of assets and corruption

o Define misappropriation of assets and corruption, including schemes and symptoms
o Describe inventory misuse/procurement schemes
o Describe payroll schemes
o Describe expense reimbursement schemes
o Describe skimming

  • Special applications

o Describe Benford's Law and its application

​Most courses can be delivered through on-site training. You might be surprised that the organization leading the profession is just as committed to the delivery of affordable training.

Contact us by calling +1-407-937-1388 or send an e-mail to GetTraining@theiia.org.

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