Certified Forensic Auditor
International Association of Forensic Accountants and Auditors
Enrollment in the program for obtaining a professional title
Certified Forensic Auditor CFrA
Certified Forensic Auditor is a person who possesses the highest level of professional knowledge, skills, values and ethics and uses his knowledge to investigate all types of accounting manipulations, including fraud, tax evasion, embezzlement, false bankruptcy, corruption and money laundering. It may also be involved in the investigation of crimes related to insurance fraud, securities fraud and the pursuit of terrorist financiers.
Certified Forensic Auditor is a professional who uses a unique blend of education, experience and skills in applying their knowledge of accounting, auditing and investigation to uncover the truth, conduct a financial investigation and provide support in criminal or civil proceedings.
This education and practical experience enables the holders of these titles to understand and perform the following tasks:
- Detect forgery of financial statements,
- Detect fraud of employees with the alienation of property,
- Detect the presence of bribery and corruption,
- Detect tax evasion and money laundering techniques,
- Detect bankruptcy forgery,
- Detect false damages to collect insurance,
- Assess the damage caused by criminal acts,
- Determine the duration of fraud and persons involved,
- Prepare adequate reports for management,
- Provide services in civil and criminal proceedings.
The training program for receiving the Certified Forensic Auditor title consists of the following modules:
Module 1: Introduction to financial fraud and forensic audit
Learning Goals:
To familiarize the participants with the application of forensic audit, the necessary knowledge and skills, the differences in relation to the financial auditor, as well as basic fraud schemes.
Learning Outcomes:
After successful completion of the module, participants will be able to:
- Understand the differences between forensic and financial auditors,
- Recognize basic fraud schemes,
- Understand the behavior of fraudsters and the reasons for fraud.
Module Structure:
- A brief history of fraud and profession
- Application and importance of forensic audit
- Differences between forensic and financial auditors
- Necessary knowledge, skills and abilities of a forensic auditor
- The concept of financial fraud and fraudster
- Fraud for and against the benefit of the organization
- Osnovne šeme prevara (finansijske kriminalne radnje)
- Falsified financial statements
- Embezzlement of cash, inventory
- Criminal actions by suppliers and buyers
- Bribe and corruption
- Money laundering
- Criminal actions related to bankruptcy
- Criminal acts related to taxes (direct, indirect, etc.)
- Appraisal scams
- Bitcoin and blockchain scams, cyber crime
- Profile and types of fraudsters
- The triangle of fraud - motive, opportunity, rationalization
Module 2: Legal, regulatory and professional environment
Learning Goals:
Acquaintance with the legal and professional framework of forensic auditing, as well as with the standards of financial fraud detection, professional ethics and the necessary ethical behavior of a forensic auditor.
Learning Outcomes:
After successful completion of the module, participants will be able to:
- Understand the legal regulatory framework of fraud detection,
- Apply internal and external audit standards,
- Apply the code of professional ethics
Module Structure:
- Legal framework in the fight against financial fraud
- Legal framework and reporting framework
- Professional framework for dealing with forensic audit
- Application of internal and external audit standards for the detection of criminal acts
- Code of professional ethics and ethical conduct of a forensic auditor
Module 3: Fraud risk management and financial fraud prevention
Learning Goals:
For the participants to learn the responsibility of different levels of management, to familiarize themselves with prevention methods and risk assessment techniques. Also, the goal is to become familiar with risk indicators and detection methods.
Learning Outcomes:
After successful completion of the module, participants will be able to:
- Nauče odgovornost različitog nivoa rukovodstva,
- Primene strategije prevencije,
- Conduct a fraud risk assessment,
- Detect and recognize fraud occurence indicators,
Module Structure:
- Responsibility for fraud (criminal acts)
- Responsibility of the Board of Directors
- Responsibility of the management
- Responsibility of the Audit Committee
- Responsibility of the external auditors
- Responsibility of the internal auditors
- Fraud prevention
- Fraud prevention policies and procedures
- Preventivno okruženje i ostale preventivne mere
- Prevention in accounting cycles
- Fraud risk assessment
- Indikatori rizika od finansijske prevare
- Crvene zastavice finansijske prevare (kriminalnih radnji)
Module 4: The process of forensic audit, investigation of financial fraud
Learning Goals:
- Understand the reasons and ways of starting an investigation,
- Upoznati se sa metodologijom, planom i ciljevima sprovođenja forenzičke revizije,
- Understand the concept of evidence, and the methods and importance of evidence management,
- Get acquainted with sources of evidence,
- Learn the concept, elements and form of a forensic auditor's report
Learning Outcomes:
After successful completion of the module, participants will be able to:
- Make a decision to initiate an investigation,
- Prepare a plan and conduct a forensic audit/financial investigation,
- Manage documentation appropriately,
- Determine the sources of the necessary information,
- Prepare a report on the conducted forensic audit
Module Structure:
- Reasons for initiating an investigation
- The methodology of conducting a forensic audit
- Previous preparations
- Plan and goals of the investigation
- Conducting a formal investigation
- Pojam dokaza u otkrivanju finansijske prevare (kriminalnih radnji)
- Managing documentation as physical evidence
- Document analysis
- Information sources
- Izveštavanje o sprovedenoj istrazi
- Pojam, elementi i forma revizorskog izveštaja
- Preparation of reports for court proceedings
Module 5: Collection and analysis of evidence
Learning Goals:
Getting to know the basic techniques of collecting and analyzing evidence.
Learning Outcomes:
After successful completion of the module, participants will be able to:
- Determine the necessary method and sources of evidence collection,
- Application of evidence discovery methods and techniques,
- Sprovedu intervju osumnjičenih i/ili svedoka radi dobijanja priznanja ili potvrde već prikupljenih dokaza.
Module Structure:
- The concept of evidence
- Evidence gathering methods - information sources
- Analysis methods
- Data mining technique
- Benford's Law analysis
- Direct methods
- Indirect methods
- Locating hidden property
- Specific methods according to different fraud schemes
- The concept of digital forensics and digital evidence
- Interview as a key method of gathering evidence in forensic investigation
- Tehnike kognitivnog intervjua
- Interview methodology
- Interviewing "difficult" people
- Interviewing the suspect and obtaining a confession
Module 6: Forensic fraud investigation in falsified financial statements
Learning Goals:
Upoznati se sa pojmom i šemama prevara u finansijskim izveštajima, naučiti kako uočiti crvene zastavice koje navode na sumnju da su finansijski izveštaji lažirani, i koji su načini otkrivanja i sprečavanja prevara u finansijskim izveštajima.
Learning Outcomes:
After successful completion of the module, participants will be able to:
- Prepoznaju crvene zastavice u finansijskim izveštajima,
- Recognize fraud schemes,
- Detect and prevent of fraud in financial statements
Module Structure:
- Coverage and concept of fraud in financial statements
- Fraud schemes in financial statements
- Red flags in detecting fraud in financial statements
- Detection and prevention of fraud in financial statements
- Income and expense fraud
- Inventory fraud
- Fraud involving obligations, property
- Prevare sa finansijskim tokovima
Module 7: Forensic investigation of other frauds
Learning Goals:
Upoznati se sa pojmom ostalih šema finansijske prevara, naučiti kako prepoznati crvene zastavice koje navode na sumnju da postoji neka šema prevare, i kako otkriti i sprečiti ostale šeme prevara.
Learning Outcomes:
After successful completion of the module, participants will be able to:
- Recognize red flags,
- Recognize fraud schemes,
- Uncover and prevent fraud,
Module Structure:
Acquaintance, detection and prevention of other fraud schemes, in particular:
- Alienation of assets - cash, inventories and other assets
- Payment fraud
- Fraud of financial institutions
- Insurance fraud
- Appraisal scams
- Planned bankruptcy
- Tax fraud
- Corruption (bribery, conflict of interests)
- Money laundering
Ova obuka akreditovana je od strane Američkog Saveta za Treninge i Razvoj (ACTD), kao i IAFAA.