Forensic accounting and fraud detection

Forensic accounting and fraud detection

There are several different types of errors in accounting. Accounting errors are usually unintentional mistakes made when recording journal entries.

Small accounting errors may not affect the final numbers in financial statements. Or they might cause major distortions in the overall figures. These types of errors require lots of time and resources to find and correct them

The integrity of the information in  accounting system is only as good as the data  entered. This means including an item in the appropriate account, applying the correct description or code for the item, and entering the correct amount. Accounting errors can result from simple mistakes or misunderstanding accounting rules.

Fraud detection is a set of activities undertaken to prevent money or property from being obtained through false pretenses. Fraud detection is applied to many industries such as banking or insurance

Fraud in audits is when an entity is found to have illegally altered financial statements to manipulate its financial health or to hide profit or losses. It is severely punished since fraud undermines the trust that is the bedrock of the global financial system.

Financial statement fraud is the deliberate misrepresentation of the financial condition of an enterprise accomplished through the intentional misstatement or omission of amounts or disclosures in the financial statements to deceive financial statement users.

Please go through the curriculum thoroughly before purchasing the course

The following topics are covered in this course:

1.Errors of omission

2.Errors of commission

3.Errors of principle

4.Compensating errors

5.Self revealing errors

6.Non Self revealing errors

7.Intentional errors

8.Unintentional errors

9.Concealed errors

10.Unconcealed errors

11.Errors affecting trial balance

12.Employee fraud

13.Managemnet fraud

14.Misappropriation of assets

15.Misappropriation of goods

16.Defalcation of cash

17.Window dressing

18.Fraudulent financial reporting

19. Management override of controls

Please read the contents of the course before purchasing

To understand errors and frauds and to know more about types of errors and frauds

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What you will learn

• Frauds and errors and the methods through which they are perpetrated

Rating: 3.83333

Level: All Levels

Duration: 1 hour

Instructor: Bhavishya Sri Perumal