Fraud Evaluation Tools for the Internal Auditor

Registration Process: 8:30 AM – 9:00 AM

Session Start Time: 9:00 AM

• Understanding white collar crime and how it has accelerated in today’s economy.
• Understanding the Internal Professional Practices Framework and the internal auditor’s responsibility in fraud evaluations
• Examination and evaluation of the American Institute Certified Public Accounts and the Association of Certified Fraud Examiners position on fraud evaluations
• Why is it critical to understand a company’s culture and control environment when evaluating fraud issues
• Challenges when investigating internal fraud
• Examining how your company manages and handles internal fraud issues
• Should internal auditors be responsible for fraud detection
• Management’s responsibility for monitoring fraud
• Understanding the fraud triangle and the fraud diamond in today’s economic environment
• How internal auditors can add to the control environment by including fraud evaluations in every audit
• The concept of fraud evaluation vs. fraud investigation
• Important concepts to discuss with your legal counsel
• Setting up the fraud investigation framework
• Communication techniques and requirements
• Understanding COSO 2013’s position on fraud evaluations
• What to do when management says “no” to fraud evaluations
• Ethics and fraud - how to manage issues
• The reality of trying to examine fraud internally
• What happens when companies don’t pursue fraud evaluations
• Fraud awareness tactics
• The new age fraudster

• Assessing a company’s fraud risk culture to prepare for a fraud risk assessment
• Understanding the various types of fraud risks assessments to employ
• Concepts involved in a macro fraud risk assessment
• Documentation requirements for a macro fraud risk assessment
• Gaining management support and buy-in for a macro fraud risk assessment
• Methods for facilitating a macro fraud risk assessment
• Evaluating and prioritizing output from your macro fraud risk assessment
• Concepts involved in a micro fraud risk assessment
• Documentation requirements for a micro fraud risk assessment
• Gaining management support and buy-in for a micro fraud risk assessment
• Methods for facilitating a micro fraud risk assessment
• Evaluating and prioritizing output from your micro fraud risk assessment
• Examining scenario analysis when performing a fraud risk assessment
• Documentation requirements for scenario analysis
• Gaining management support and buy-in for scenario analysis
• Methods for facilitating a scenario analysis
• Evaluating and prioritizing output from a scenario analysis
• Understanding aspects of the maturity model approach for conducting fraud assessments
• Understanding and identifying important attributes to include within the maturity model approach
• Establishing the appropriate definitions and framework to execute a maturity model assessment
• Gaining management buy-in and support for a maturity model assessment
• Establishing up-front processes for a maturity model assessment
• Methods for facilitating and executing a maturity assessment
• Pros/cons and challenges with methods of assessment
• Evaluating and prioritizing maturity model assessment output

Lynn Fountain has over 30 years of experience in the business profession, which includes public and industry accounting, and over 20 years within internal and external auditing combined. Ms. Fountain holds CGMA and CRMA certifications as well as a certificate in Certified Public Accountancy. She is a nationally recognized trainer and speaker and also a published author. She is a subject matter expert and specializes in internal audit, Sarbanes-Oxley, enterprise risk management, fraud, governance and compliance. Ms. Fountain has held two chief audit executive positions for international companies. She has also been instrumental in establishing ERM, Sarbanes-Oxley and governance frameworks, and has executed and assisted in multiple internal fraud investigations.

Ms. Fountain has developed and delivered leading edge training sessions on the new COSO framework and has assisted companies in identifying risk gap analysis in their individual processes. She currently executes two highly recognized e-workshops for the Institute of Internal Auditors, one on fraud and the second on ethics. Both workshops have incorporated aspects of COSO 2013. In addition, she has performed as an adjunct instructor for the School of Business for Grantham University and the School of Business at the University of Kansas.

Ms. Fountain’s book on fraud, sponsored by the IIA Research Foundation, is expected to be a strong tool for companies looking to solidify their anti-fraud program. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas.