Fraud Data Analytics Training Seminars

Simply stated, the best audit program in the world will not detect fraud unless the audit sample includes a fraudulent transaction.

This fraud audit training module provides a methodology to create a data analytics program, proven data interrogations techniques which have identified fraud scenarios, and our experiences with using data mining to uncover fraud in core business functions. Courses one through four provide a detailed approach on all the considerations to build an effective fraud audit plan. Courses five through ten provide data interrogation techniques and real life experiences in using the fraud data analytics to uncover fraud scenarios.

Fraud Data Analytics Methodology Course Modules & Objectives 

Course 1: What is Fraud Data Analytics

This course on analytics for fraud data is fundamental to the rest of the data analytics courses and will cover:

  • What is fraud data analytics
  • Using the fraud scenario approach
  • Fraud data analytics methodology
  • Three critical considerations for the fraud data analytics plan
  • The false positive conundrum
  • Axioms of fraud data analytics

CPE Hours: 2

Lecture time: 1 hour

Practical exercise time: 1 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum

Learning level: Basic

Field: Auditing

Delivery Method: Group Live

Course 2: Data Mining Strategies

Learn about different data mining strategies and how to use the five critical data elements in your fraud audit. Course components include:   

  • Four strategies for fraud data analytics
  • Understanding how fraud concealment impacts your plan
  • Understanding how your strategy impacts the plan
  • Pattern recognition and frequency analysis
  • How to use the five critical data elements

CPE Hours: 4

Lecture time: 3 hours

Practical exercise time: 1 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum and What is Fraud Data Analytics learning module

Learning level: Intermediate

Field: Auditing

Delivery Method: Group Live

Course 3: How to Build a Data Mining Plan

Which data should you be selecting and why? This course will cover: 

  • Ten steps to building a fraud data analytics plan
  • Data issues: availability, reliability and usability
  • Eight steps to write the interrogation routines
  • Common mistakes in building a fraud data analytics plan
  • Critical skills for fraud data analytics

CPE Hours: 2.5

Lecture time: 2 hours

Practical exercise time: 0.5 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum

Learning level: Intermediate

Field: Auditing

Delivery Method: Group Live

Course 4: Data Analytics in Planning the Audit

Data analytics must be considered in the audit planning stage, when you're defining the scope of the audit. This course will cover: 

  • Defining the scope of the fraud data analytics plan
  • Ten questions to building the fraud data analytics plan
  • Key work papers in data mining
  • Creating the planning reports 

CPE Hours: 1.5

Lecture time: 1 hour

Practical exercise time: 0.5 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum

Learning level: Basic

Field: Auditing

Delivery Method: Group Live

Course 5: Data Mining for Shell Companies

Shell companies are a common fraud scheme. In this course we will cover:

  • Attributes of a shell company
  • Identifying the key data
  • How to build search routines
  • Interrogate master file data
  • Correlation to transactional data

CPE Hours: 2

Lecture time: 1 hour

Practical exercise time: 1 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum and What is Fraud Data Analytics learning module

Learning level: Advanced

Field: Auditing

Delivery Method: Group Live

Course 6: Data Mining for Fraudulent Disbursements

Learn common presentations of fraudulent disbursements and how to find them with a no-nonsense analytics-based approach. This session will cover:

  • False billing schemes
  • Eight versions of the pass thru schemes
  • Vendor over-billing schemes
  • Disguised purchasing schemes
  • Duplicate payment schemes

CPE Hours 3

Lecture time: Two hours

Practical exercise time: One hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum

Learning level: Advanced

Field: Auditing

Delivery Method: Group Live

Course 7: Data Mining for Corruption in Procurement Function

Learn how to find corruption in procurement function. This course will cover:

  • Attributes of facilitation payments
  • How to use word searching to locate suspicious payments
  • Hidden bribe payments or illegal gratuities
  • Locating conflict of interests

CPE Hours: 3

Lecture time: 2 hours

Practical exercise time: 1 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum and What is Fraud Data Analytics learning module

Learning level: Intermediate

Field: Auditing

Delivery Method: Group Live

Course 8: Data Mining Company Credit Cards

Company credit cards are another source for fraudulent transactions. In this course we will cover:

  • Abuse vs. fraud
  • Disguised personal expenses
  • Adverse publicity expenses
  • Locating hidden bribe payments

CPE Hours: 2

Lecture time: 1 hour

Practical exercise time: 1 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum and What is Fraud Data Analytics learning module

Learning level: Basic

Field: Auditing

Delivery Method: Group Live

Course 9: Data Mining for Payroll Fraud

This learning module will discuss common payroll fraud schemes such as:

  • Ghost employee schemes
  • Disguised compensation schemes
  • Overtime fraud
  • Payroll adjustments schemes
  • Bonuses and commissions
  • Theft of payroll payments

CPE Hours: 3

Lecture time: 2 hours

Practical exercise time: 1 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum and What is Fraud Data Analytics learning module

Learning level: Intermediate

Field: Auditing

Delivery Method: Group Live

Course 10: Data Mining for Theft or Revenue and Cash Receipts

This fraud data analytics course will cover:

  • Searching for returns and adjustment schemes
  • Locating accounts receivable lapping schemes
  • Finding ghost or front customer schemes
  • Theft of customer credit schemes

CPE Hours: 1.5

Lecture time: 1 hour

Practical exercise time: 0.5 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum and What is Fraud Data Analytics learning module

Learning level: Intermediate

Field: Auditing

Delivery Method: Group Live

Other Fraud Training Curriculum:

Fraud Auditing, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education (CPE) on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.  

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