Forensic Accounting: From Fundamentals to Investigation Reports

Learning Objectives

• To define forensic accounting.
• To describe the role and responsibilities of forensic accountants.
• To determine how you can enter the forensic accounting field.
• To identify various methods and resources for conducting background checks and suspect profiles.
• To describe the ethical and legal issues that arise while conducting background checks and suspect profiles.
• To identify methods and procedures for gathering and maintaining evidence in a forensic accounting engagement.
• To discuss important steps involved in evidence collection.
• To identify document gathering procedures.
• To explain why people, hide assets.
• To review various methods for finding hidden assets.
• To review the methods for confiscating assets.
• To identify methods for finding hidden income.

Course Description

Forensic accounting encompasses fraud investigation and prevention, as well as a wide variety of functions in litigation. 

Technology expands the way companies conduct business; however, technology also provides greater opportunities for those willing to commit fraud. Forensic accountants rely on their skills in accounting, coupled with their investigative skills, to explain to clients, courts, and jurors how fraudulent schemes occur and the effect caused by fraud.

This CPE course will provide you with a solid understanding of financial forensics. You will become familiar with the forensic accountant’s professional responsibility. You will learn to investigate fraud and to analyze and report on financial information for use in legal proceedings. You will learn about the career opportunities in the forensic accounting field and the skills and knowledge necessary to be a successful forensic accountant.

In this CPE accounting webinar, you will learn the fundamentals of forensic accounting.

Just because you know someone, it doesn’t mean that person is safe. Statistics show “friendly fraud” is on the rise. Unfortunately, “friendly” doesn’t refer to a nicer, less-devastating form of fraud — it refers to the fact that the perpetrator is someone you know, like a roommate, casual acquaintance, or even a relative, which arguably makes the scam even more devastating. Because of this, it’s wise to choose the people we allow into our lives carefully.

Doing a background check will help you discern if someone is trustworthy before they begin working in your home, at your business, or with your children. While doing a background check, we can search for any red-flag signs of fraud, or any other disturbing findings, like previous (or current) lawsuits, arrests, warrants, bankruptcy declarations, eviction notices, and much more.

This CPE course is designed for individuals who would like to obtain a basic understanding of conducting background checks and suspect profiles. It will discuss resources and methods for conducting background checks and suspect profiles and the ethical and legal issues that arise while conducting it.

Forensic accountancy can only be successful if every step in the investigative process is given sufficient priority. 

That said, it could be argued that nothing matters more than an effective forensic data collection process. Regardless of the nature or extent of the financial crime, the outcome will be determined by what takes place during this crucial stage. Forensic accountants must have comprehensive knowledge of evidence-gathering techniques, along with the confidence to put them into practice. The investigator needs to know where, when, and how to both search for and gather evidence, following the detection of suspected fraud. 

This CPE course is designed for individuals who would like to obtain a basic understanding of the proper methods and procedures for gathering and maintaining evidence in a forensic accounting engagement. You will learn how to approach the forensic data collection process strategically and effectively.

The speaker of this CPE accounting webinar, Dr. Robert Minniti, will also discuss the Federal Rules of Evidence and the need for the documentation of the chain of custody. You will learn to differentiate between evidence used in civil cases and evidence used in criminal cases.

Cases of financial fraud often focus on the core issue of where the money went. Successfully carrying out a fraud scheme involves not only taking the money but covering up the fraud and hiding the money trail.  But skilled financial investigators know there is always a trail, and while the money may or may not be recovered, it can be located.

Persons engaged in fraud and illegal activity have long used several methods to hide ill-gotten assets. Today, forensic investigators have powerful new technological tools to track and uncover these assets. Some specialized techniques may require digital forensic specialists; however, more basic options are also effective. Whether the suspected fraudster is a business partner, an employee, or some other related party, the process for uncovering hidden accounts tends to follow a similar path. 

If you are working in the forensic accounting field at some time in your career it may be necessary to search for hidden assets.

The purpose of this CPE course is to explain how forensic accountants look at the big picture, both financially and by understanding past behaviors, to uncover items that may help you or your client.

Overview

• Definition of a forensic accountant

  3 mins
• Forensic accounting designations

  25 mins
• Documentation production issues

  54 mins
• Forensic accounting engagement letters

  90 mins
• Sample background report

  115 mins
• Obtaining credit reports

  150 mins
• Preemployment medical exams

  173 mins
• Consulting versus testifying expert

  192 mins
• Obtaining evidence

  224 mins
• Assist in drafting requests for admission

  263 mins
• Three types of surveillance

  312 mins