Fraudsters love chaos because it provides opportunity. The COVID-19 pandemic has upended normal processes and activities leaving everyone, business and individuals, more susceptible to fraud. The ACFE recently reported there is expected to be a significant increase in fraud risk due to the pandemic. Changes in organizational processes and professional interactions is creating opportunity for fraud. There is expected to be an increase in all areas of fraud – corruption, asset misappropriation and potentially most damaging, financial statement fraud.
This session will examine the most likely and anticipated fraud schemes to occur as a result of COVID-19 and how to prevent and detect new and emerging fraud and fraud risk. It will look at the changes in pressure and opportunity for fraud as related to the significant changes being experienced and what organizations should be doing to prepare and deal with increased fraud risk.
In the 1970s and 1980s, management trends like Quality Circles and TQM could last for more than a decade in an organization. Today, trends only last 12-18 months, and it’s getting shorter all the time. Businesses have to be flexible.
But what about Internal Audit? Are we still doing things like we did 10 years ago? 5 years ago? Even two years ago? Like the businesses we support, change and flexibility are necessary to address emerging risks, especially during these challenging times.
Borrowing from Agile methodologies, Internal Audit is embracing the ‘sprint’ approach, focusing on outcomes and results that drive value for stakeholders. By expediting timelines and eliminating activities that do not add value, we are improving deliverables and client satisfaction.
This session will introduce Agile Auditing and teach you methods you can start to implement.
• Learn about the Agile methodology and its history.
• Understand the basics of the Sprint approach and the difference between the Scrum and Kanban frameworks.
• Identify the benefits of Agile and understand how those benefits drive value.
• Identify how Agile improves reporting.