Deterring Corporate Fraud and Effective Functioning within an Organisational Framework

Deterring Corporate Fraud and Effective Functioning within an Organisational Framework
Being a Lecture Delivered at the ICAN Lagos And District Society Masterclass Training at Lagos
Continental Hotel, Kofo Abayomi Street, Victoria Island, Lagos on Wednesday, November 1, 2023.

1. Deterring Corporate Fraud and Effective Functioning within an Organisational Framework Being a Lecture Delivered at the ICAN Lagos And District Society Masterclass Training at Lagos Continental Hotel, Kofo Abayomi Street, Victoria Island, Lagos on Wednesday, November 1, 2023.

2. ND (Fin), HND (Acct.), BSc. (Acct. Ed), BSc (Fin.), LLB., LLM, MBA (Acct. & Fin.), MSc. (Acct.), MSc. (Bus & Econs ), MSc. (Fin), MSc. ( Econs ), Ph.D. (Acct), Ph.D. (Fin), Ph.D. (FA), CICA, CFA, CFE, CIPFA, CPFA, CertIFR , ACS, ACIS, ACIArb , ACAMS, ABR, IPA, IFA, MNIM, FCA, FCTI, FCIB, FCNA, FCFIP, FCE, FERP, FFAR, FPD-CR, FSEAN, FNIOAIM, FCCrFA , FCCFI, JP

3. Deterring Corporate Fraud and Effective Functioning within an Organisational Framework

4. Contents

5. Introduction

6. Corporate Fraud and O rganisational F ramework

7. Some F actors C ontribut ing to C orporate F raud

8. Analytical T echniques of C orporate F raud

9. Common A nalytical T echniques for C orporate F raud D etection

10. How to use analytical techniques for corporate fraud detection

11. C orporate Fraud Deterrerance

12. O rganisational F ramework in C orporate F raud Deterrerance

13. How O rganisational F ramework S upport E ffective F unctioning

14. Techniques for R ecognizing the S ymptoms of F raudulent B ehaviour

15. Other Techniques for R ecognizing the S ymptoms of F raudulent B ehaviour

16. Review of I nvestigation P rocess and C ase I nitiation Case initiation This is the process by which a suspected case of fraud is identified and brought to the attention of the appropriate authorities This can be done through internal reporting mechanisms, such as a whistleblowing hotline, or through external sources, such as law enforcement or regulatory agencies Preliminary investigation This is a preliminary assessment of the alleged fraud to determine whether there is sufficient evidence to warrant a full investigation This may involve reviewing documentation, interviewing witnesses, and conducting other inquiries Full investigation If the preliminary investigation indicates that there is sufficient evidence to proceed, a full investigation will be launched This will involve a more detailed and in-depth analysis of the alleged fraud Investigators may collect evidence such as financial records, computer files, and physical evidence They may also interview witnesses and suspects Case resolution Once the investigation is complete, the investigators will compile a report summarizing their findings and conclusions This report will be used to determine whether to take any disciplinary or legal action against the alleged perpetrator(s) Investigation Process for Fraudulent Behaviour

17. Review of I nvestigation P rocess and C ase I nitiation The case initiation process for fraudulent behavior can vary depending on the specific organization or agency involved However, there are some general principles that are common to most case initiation processes First ly , it is important to have a clear and concise definition of fraud This will help to ensure that everyone involved in the case initiation process understands what constitutes fraud Second ly , there should be a process in place for reporting suspected fraud This process should be easy to use and accessible to all employees It is also important to protect the confidentiality of whistleblowers. Third ly , there should be a clear process for evaluating reported cases of fraud This process should be objective and impartial It is important to avoid making any assumptions about the guilt or innocence of the alleged perpetrator(s) at this stage Case initiation

18. Review of I nvestigation P rocess and C ase I nitiation Investigation process

19. Review of I nvestigation P rocess and C ase I nitiation Case resolution

20. Evidence Collection Techniques

21. General Principles of Evidence Collection Techniques

22. C ollection T echniques for Physical and Digital E vidence

23. Gathering and Assessing Observational Evidence

24. Gathering Financial Evidence

25. F actors to be C onsidered in A ssessing F inancial E vidence

26. Gathering Non-Financial Evidence

27. A ssess ing Non-Financial Evidence

28. Importing and Analyzing D ata utilizing MS Office tools

29. Importing data utilizing MS Excel using Power Query

30. A nalyz ing D ata in Excel using Power Pivot

31. Importing and Analzing D ata U tilizing Power BI Import Data into Power BI To Analyze Data in Power BI

32. Root C ause A nalysis (RCA) of C orporate F raud 

33. Benefits of Root C ause A nalysis (RCA) of C orporate F raud 

34. Overview of Data-driven Fraud Analysis Techniques

35. Other D ata- d riven F raud A nalysis T echniques

36. Benefits of D ata-driven F raud A nalysis

37. Challenges of D ata-driven F raud A nalysis

38. Evaluating the E xtent and S cope of F raudulent P ractices

39. Occupational and Corporate F raudulent P ractice Occupational Fraudulent Practice Corporate Fraudulent Practice

40. F actors that C ontribute to the E xtent and S cope of F raudulent P ractices

41. S teps to R educ ing F raud Risks in Organizations

42. Corporate Fraud in Nigeria

43. Impact of Corporate Fraud on the Nigerian Economy

44. Measures to Reduce Corporate Fraud

45. Roles of Forensic Accountants in Deterring Corporate Fraud and Effective Functioning within an Organizational Framework

46. Roles of Forensic Accountants in Deterring Corporate Fraud and Effective Functioning within an Organizational Framework

47. Conclusion

48. Conclusion

49. Recommendations