2 CPE The topic of fraud continues to be on the radar of investors, shareholders, and regulators. Despite a Kroll Advisors survey showing a decrease of corporate fraud incidents in recent years, new fraud methods are continually being devised and identified thanks in large part to advances in technology and IT infrastructure.
Compliance professionals and auditors are not expected to have the expertise of forensic investigators, but should have working knowledge of the aspects of fraudulent activities and maintain a skeptical mind when it comes to reviewing potential violations.
This course, led by internal audit expert Lynn Fountain, provides a practitioner’s perspective of what your company should include in their internal audit programs and processes to mitigate and avoid fraud. We’ll cover:
- The psychology of fraud and connection to the fraud triangle and fraud diamond
- The International Professional Practices Framework (IPPF) for internal auditors
- Employing the COSO 2013 towards fraud
- Right-sizing the internal audit team's responsibilities
- Risk assessment considerations
- Reporting procedures
Learning Objectives
- Identify the attributes of fraud
- Identify 5 Control Environment principles that can be connected to the need to evaluate for fraud
- Recognize how to utilize professional skepticism when evaluating for fraud
Last updated/reviewed: March 14, 2024
91 Reviews (374 ratings)
Reviews
Anonymous
(CFO)
this was okay, but not particularly interesting / new information
Anonymous
(Accountant)
the last 2 exam questions do not seem to correspond to the standards mentioned in the slides' i.e.
"Proficiency and Due Care Standard 1210.A2" the standard # does not correspond to the standard description based on the options offered in exam for question #10. I scored 100% on the exam but my answer to question #10 was the option that mentioned "Individual" there was no option listing ""Proficiency and Due Care" as an answer for standard 1210. This is a bit confusing.
Anonymous
(Revenue Agent)
Ms. Fountain covers the topic in sufficient detail to serve as a refresher for internal audit personnel to evaluate their role within organizations. I appreciated the discussion of management's role and attitude toward internal audit and the necessity to revisit often with management their expectations viewed against the professional standards and framework.
Margo Palmer
( at NA)
The information presented in the first sections of this course on the psychology of fraud was very interesting; the later sections on internal audit and management responsibilities were rather dry, but necessary for understanding better the role of internal audit and management in addressing the subject of fraud.
Anonymous
(Audit Manager)
Very interesting and important topic for all audits, mainly internal. Great explanation and examples how auditors should broaden their skills and really be aware of fraud that might be happening in their organization. Thank you for the this great training.
bruce quayle
(accountant at Charter Communications)
She is a great teacher. I try to watch all her videos because she is very informative and thorough. I recommend anyone to watch her videos.This class was very informative and pointed me in the right direction for fraud investigation.
Anonymous
(Director of FInance)
This course had really good information regarding the role of the Internal Auditor function in a high level operating finance department. As an organization works to put this function in place, this would be a great resource.
Anonymous
(Finance Analyst)
This course covers clear concepts of Fraud triangle, coso framework and additional dimensions in the fraud triangle. Really good refresher on fraud dynamics and management's role in maintaining efficient controls on fraud.
Anonymous
()
Very informative. Even though this course is designed around an internal auditor's role I felt like this was relevant and can be helpful to anyone who may be responsible for risk assessment and investigating fraud.
Anonymous
()
A lot of information covered during this course. Helpful for internal auditor's involved in the fraud investigation process, or fraud risk assessments. Covers applicable standards and responsibilities.
Anonymous
(System Procedure Analyst)
I like the way that the fact that it explained that not all fraud are due to financial problems. She explained how other factors were contributing to different ways of committing fraud.
Anonymous
(SFA)
Another great course from Lynn. She shares a load of real life examples and stories. Very interesting way to deliver the course, glad to see Lynn on the screen along with the slides.
Anonymous
(-)
This course covers the basics as well as some broader concepts as to how board members, management, and auditors address the risk of fraud. Fast-paced and insightful as always!
Anonymous
(Controller)
This is another excellent course from a wonderful instructor. I think the course adds value for any Accounting/Finance professional - not just those who work in internal audit.
Raveendran Madappattu
View Instructor Profile
Great presentation; provided a lot of good thoughts about fraud detection and defending against fraud. The fraud diamond concept has also been explained. Overall very good!!!
Christopher Chomic
(Director of Finance at Advanced Plumbing Technologies)
This is a good overview of what is required with COSO and the different principles required between auditors and management. I really enjoyed this CPE! would recommend it.
Anonymous
(Manager - BP SOX)
Great course, relevant material. The delivery was a bit monotone and sounded like a sales bid for the book. However, the information shared was useful and understandable.
Lilian Dendrinos
(consultant at DLC Group)
Very informative class. I've taken many of Lynn's classes. She's very clear, explains with examples from her experience and organized. I highly recommend this class.
Anonymous
(Owner)
Good fundamentals re: Fraud Triangle. Discussion around bases/authoritative support for why IA should be involved in fraud evaluation activities was beneficial.
Anonymous
(Head of Internal Audit)
Internal auditors could make use of the very well structured information of the presentation in their work as well as a material to present to the management.
Anonymous
()
Good examples of how to address the audit area's concerns and not feel threatened or interrogated when review an area that is just one of higher risk.
Anonymous
(Assistant Internal Audit Manager)
Interesting course. Fraud diamond with capability attributes is practical knowledge, providing more perspectives to consider when evaluating a fraud.
Christopher Hole
(Director of Internal Audit at Roseburg Forest Products)
Not exactly what I was expecting, but a really good review of what the standards have to say about audit's responsibilities regarding fraud.
Anonymous
(Systems and Procedures Analyst)
The Fraud Evaluations: A Guide for the Compliance Professional course was beneficial, because of how vital fraud has become in the work place.
Anonymous
(IT Advisory Snr. Associate)
This is an interesting and refreshing course. Nothing surprised me. Everyone will have one or two things to learn from this training.
Anonymous
(Auditor II)
Lynn Fountain course is great as usual and gives great insight to fraud evaluations in relations to internal audit and compliance.
Sylvia Ratliff
(internal audit consultant at self employed)
Liked the slides, very concise and easy to understand. Disliked a couple of the questions that appeared designed to be "tricky".
Anonymous
(Internal Auditor)
Fraud refers to the act of deceiving or intentionally misrepresenting information for personal gain or to cause harm to others
Anonymous
(Consultant - Process Specialist)
The speaker discussed in detail the fraud considerations that an auditor should have in the performance of their audit.
Julia Dooley
(Program Analyst Auditor at VA - U.S. Department of Veterans Affairs)
I found the course very interesting. I liked how the instructor explained how fraud connects to the role of the IA.
Anonymous
(Director)
Great topic and very relevant in learning about a culture of companies that could lead to these things occurring.
Anonymous
(Manager - Compliance and Risk Management)
As a risk management professional, I found this course to be a good refresher, relevant and valuable. Thank you.
Anonymous
()
This course provides information on fraud as it relates to COSO, internal auditing, IPPF, and management.
Anonymous
()
The presenter provides plenty of relevant insights on fraud evaluations in a very clear and concise manner
David Favret
(Director of Business Development at Deltha Corporation)
Provides a clear overview of Internal Audit's role and responsibility with respect to Frau Evaluations.
Anonymous
()
fraud evaluations: a Guide, was well put together with COSO and the Fraud Triangle / Diamond concepts.
Kendra Willson
( at SSA PC)
Questions were not worded nearly as well as other exams by this trainer. Overall objectives were met.
Drew Semple
(Senior Associate at RSM)
I really enjoyed the course and the supporting documents that came along with it, very insightful!
Anonymous
(Not Provided)
This course was informative and helpful. Added materials (PDF's) are good reference materials.
Anonymous
()
As always, Lynn Fountain provides excellent and comprehensive instruction and course material.
Anonymous
(Senior Associate IA)
I think the instructor does a great job explaining the information and providing good examples.
Anonymous
(Financial Management Expert)
Very useful to any business executive. There is lots to learn in this course. Thanks Lynn!
Anonymous
(Auditor)
Another great class from Lynn. I should be able to implement these concepts immediately.
Anonymous
(Chief Strategist)
The course was in-depth, interesting and easy to understand. It was a great refresher.
Anonymous
(consultant)
Was geared more for someone in an Internal Audit role but was broad enough for everyone
Carolyn Sucha
(Internal Auditor at Google)
The course was efficient and easy to follow, great way to finish my CPE requirements
Anonymous
(Supervisory Special Agent)
I enjoy this instructor. The course is informative and offers real world usefulness.
Kwaku Owusu-Safo
(Deputy Director of AML Compliance at Conotoxia Inc)
Great and challenging course. The content of the course was very good and detailed.
Anonymous
(Associate Director)
Great overview of fraud dynamics within an organization and what IA can do to help
Jasmin Pineda
(Healthcare Auditor at University of Illinois)
Very informative presentation. Objectives were met and instructor was effective.
Jack Brown
(Consultant at JB Consulting LLC)
Clear Detailed course. Topics well covered. Test questions mostly from material
Naoko Kuge
(Internal Controls Manager at Hoshizaki Europe B.V..)
It is very useful to learn a basic of Fraud Evaluations within an organization.
Anonymous
(Accountant)
Lynn does an excellent job explaining fraud evaluation concepts and principles.
Anonymous
()
The course is highly educative and I will recommend it for anyone in finance.
Anonymous
(Director)
Good reminder of how to incorporate fraud considerations into the audit plan.
Anonymous
(internal auditor)
Не могу сказать, что узнаете много нового
Anonymous
(*)
Good overview for this topic; covers the basics and is a good refresher.
Anonymous
(Senior Internal Auditor)
Good explanation and overview of fraud evaluations and internal audit.
Anonymous
(--)
Solid course on fraud evaluations from a practitioners point of view.
Ahmed Saeed
( at Surgi-Tech)
Great course of fraud evaluation: a guide for compliance professional
Anonymous
(Controller Lease and Facilities Accounti..)
The last question of Exam does no appear to have correct answer.
Anonymous
(CPA / Attorney)
Ms. Fountain is very competent and thorough in her presentation.
Anonymous
(Accounting Manager)
A great course for understanding the concept of fraud and COSO.
Anonymous
(Freelance Writer)
No complaints about course; instructor was clear and concise.
Anonymous
()
This was a very good course on all things fraud. Thank you.
Kent Swindlehurst
( at Cisco Systems)
Please verify IA standards listed in the exam are accurate.
Renae Pryjmak
( at Rocket Lab)
This was a helpful fraud evaluation resource. Thank you.
Anonymous
(Senior Accountant)
Good course and review of the material and requirements.
Anonymous
()
CCOurse covered stated objectives in a reasonable manner
Kirit Kapadia
( at Kirit KapadiaCPA)
Good discussion on the internal auditor role in fraud.
Anonymous
(CPA)
Good course for internal audit as well as management.
Sophia Kasozi
(- at City of Edmonton)
Good refresher on the purpose of fraud evaluations.
Darin Woehl
(Program Analyst at VA - U.S. Department of Veterans Affairs)
Good class with plenty of study materials attached.
Anonymous
(Internal Auditor)
Content is excellent but video is poorly shot.
Anonymous
(-)
Good course. Concepts are clearly explained.
Jacqueline LaFleur
(Finance Manager at Laureate International Universities)
A lot of information but great audit review
Gerry Gaffney
(Risk Management Consulting at GJ Gaffney LLC)
Very comprehensive presentation
Anonymous
(Partner)
Refreshed my leanings as CFE
Anonymous
(-)
Thorough and well organized.
Anonymous
(SOX Senior Auditor)
Very informative
Anonymous
(-)
Nice overview.
Qingkui Qiu
(Finance supervisor at Wanli New energy corporation LTD.)
great course!
Anonymous
(Manager of Finance)
Good overview
Anonymous
(Senior Treasury Analyst)
Great course
Judith Moscova
(Accountant at N/A)
Great class.
Raul Cardona
(Senior IT Internal Auidtor at The Cosmopolitan of Las Vegas)
Interesting!
Anonymous
(-)
Good course!
Anonymous
(Farm and Nursery Manager)
good course
Anonymous
(Accounting Manager)
Ok course.
Anonymous
(None)
Very Good!
Anonymous
(Sole Practitioner)
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Prerequisites
Course Complexity: Intermediate
Prerequisite: Exposure to internal controls
This seminar will review critical concepts that internal auditors must consider and be educated in. No advanced preparation or prerequisites are required, but the following courses will provide useful context.
- The psychology of fraud and connection to the fraud triangle and fraud diamond.
- Examining the IPPF Framework and executing responsibility for fraud processes.
- Employing COSO 2013 within fraud concepts.
- Considerations for reporting procedures when fraud is identified.
Advanced Preparation: None
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Lynn FountainCPA, CGMA, CRMA, MBA, cPIA, Consultant, Author, Trainer
About Illumeo
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- Email: info@illumeo.com
- Phone: 408-400-3993
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- Av #221, Campbell, CA 95008
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