Investigation of Fraud: Techniques for Professionals

Fraud Detection Techniques

The single most important talent a forensic accountant can develop is expertise in fraud investigation and detection. When financial crimes are identified at the earliest possible stage, they can be managed quickly and with minimal damage. By contrast, if fraud is discovered at a more advanced stage, the consequences may be irreversible. The effectiveness of the fraud detection techniques used by the investigator determines how quickly and accurately financial crimes are uncovered. While the learning process in this dynamic profession is ongoing, a strong working knowledge of fraud detection techniques is essential for anyone pursuing a career in forensic accounting. Just as important is an understanding of the most widely used forensic audit tools and methods in practice.

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This Investigation of Fraud: Techniques for Professionals module explores how forensic accountants apply a range of effective strategies to uncover fraud at every level. Study vital sub-topics such as assessing fraud risk, identifying and evaluating red flags, information-gathering methods, analytical procedures, financial statement fraud detection, billing schemes, payroll fraud, revenue recognition schemes, and more.