• Discuss what is meant by forensic accounting. What are some ways in which it differs as a specialty from general accounting or auditing? What are some of the specific functions and roles that forensic accountants perform? How does fraud investigation fit in as a sub-specialty?
  • Discuss the fraud triangle. What are the individual components and how do they work together? How does it play a part in fraud investigations? How can understanding it be used by organizations to discourage, help prevent, and discover fraud?
  • Why is internal control important to discourage, help prevent, and discover fraud? What are some elements of a good internal control system, and how do they work? What is meant by the concepts of “reasonable assurance” and “cost-benefit analysis” in the context of internal control?
  • What is the responsibility of auditors to uncover fraud in an audit of financial statements? How has it changed pre-2002 (pre-Enron and the other related frauds) versus subsequent periods and the adoption of SAS99? How does it differ from a special purpose audit of internal controls or fraud investigation?
  • Provide an overview of what is meant by IT Security Assessment. What is the overall objective and how is it achieved and assessed?
  • How can systems be designed to prevent and detect fraud? How can whistle-blower programs and hotlines be part of the process, and what is needed to maximize their effectiveness? What about other things like audits and system controls? What’s meant by the concept of “minimizing the total fraud cost equation?”
  • Describe and discuss the Fraud Engagement Process. What are the steps, what do they involve, and why is each one important?