Fraud Audit

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Introduction
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Career choices
Conducting investigations as internal auditors,
forensic accountants, corporate risk officers
Bankruptcy-related fraud work
Serving as expert witness
Consulting in fraud prevention & detection
Extracting evidence from computer systems
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Association of Certified Fraud Examiners
Mission Statement
The mission of the Association of Certified Fraud Examiners is to reduce the
incidence of fraud and white-collar crime and to assist the Membership in its
detection and deterrence. To accomplish our mission, the ACFE...
Provides bona fide qualifications for Certified Fraud Examiners through
administration of the CFE Examination
Sets high standards for admission, including demonstrated competence
through mandatory continuing professional education
Requires Certified Fraud Examiners to adhere to a strict code of professional
conduct and ethics
Serves as the international representative for Certified Fraud Examiners to
business, government and academic institutions
Provides leadership to inspire public confidence in the integrity, objectivity,
and professionalism of Certified Fraud Examiners
www.cfenet.com

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Defining fraud

What it is
Intentional
Trick or deceive
someone out of their
assets
Theft
A crime
What it isnt
Taken by physical force
A mistake or error
Victimless
Insignificant because no
one got hurt
Acceptable or Justifiable

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Defining fraud ~ Albrecht . .
Fraud is deception that includes the following elements
~
a representation
about a material point
which is false
and intentionally or recklessly so
which is believed
and acted upon by the victim
to the victims damage
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Enormous range of fraud schemes
Fraud by employees
Fraud against government
Consumer fraud
Migration fraud
Securities fraud
Superannuation fraud
Intellectual property fraud
Computer fraud
Insurance fraud
Mobile phone fraud
Credit card fraud
Identity fraud
Health care fraud
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KPMG Survey 2006
The perpetrators

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$1.00 in fraud represents $1.00 lost
profits.
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Fraud Profits
Why are we so often conned?
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Trusting
Greedy
Examples of fraud cases
Indonesia
Centurry Bank
Tax evation (Gayus
Tambunan)
Corruption (by DPR,
Governors, etc)
USA
WorldCom
Enron
Australia, Europe
HIH
etc
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