Master lifestyle audits! This training covers auditing standards, fraud schemes, money laundering, digital forensics, tax evasion, reporting, and acting as an expert witness. Ideal for auditors, risk managers, forensic accountants, and investigators.
| Date | Venue | Duration | |
|---|---|---|---|
| 07 - 11 September 2026 | Sandton | 5 Days |
In today’s heightened times of public scrutiny and calls for ethical leaders, it’s not surprising that many concerned citizens have become far more demanding for good governance and transparency. Lifestyle audits within both the public and private sectors are becoming standard practice in an attempt to strengthen oversight of ethics, integrity and discipline. The audits test whether the lifestyle of an employee is in line with that person’s known income stream. The audits are used to hold accountable those who unduly benefit from the employer’s resources and procurement opportunities. Whilst a lifestyle audit is typically initiated by an official from the government’s revenue or tax departments, there are also legitimate reasons for an organisation to question their employee regarding a mismatch of their earnings as compared to the employee’s lifestyle. Lifestyle audits are an excellent barometer of the extent of the fraud risk within an organisation, and that companies should make use of this proactive anti-fraud mechanism to protect themselves before they fall victim to fraud and, in some instances, to identify fraud which is happening right under their nose.
This 3-day Conducting Effective Lifestyle Audits Training gives an overview of the possible fraudulent schemes committed by employees and equips auditors, line managers and forensic accountants with the knowledge and skills required to conduct a lifestyle audit. Delegates will be taken through scenarios and practical exercises to develop their skills in identifying fraud. Delegates will also learn how to detect weaknesses and take the necessary action to improve prevention through new forms of forensic auditing used to support and verify existing systems. Delegates will have to chance to perform a lifestyle audit as part of a case study during the workshop.
Upon completion of the Conducting Effective Lifestyle Audits training course, participants will be able to:
Explain the auditing standards, guiding laws and control techniques that are relevant to a Lifestyle audit and decide upon appropriate measures to counter fraud occurrences.
Prepare a business case for fraud audit to senior management.
Reduce the risk of unethical practices and conducts in their organisation.
Gain the expertise to conduct Lifestyle audits and ensure recovery.
Apply accounting skills to track and collect forensic evidence for investigation and the prosecution of criminal acts by employees.
Find the elusive misconduct that others miss.
Internal Auditors
Risk Managers
Forensic Accountants
External Auditors
Accountants
Financial Officers
Commercial Crimes Investigators
Compliance Officers
Legal Advisors & Attorneys
Internal affairs officers
Our diverse instructional approaches ensure effective learning:
– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.
Module 1: Introduction to Forensic Auditing, Forensic Accounting and Digital Forensic Investigation
Definition of Fraud and Corruption
Overview of Employee-fraud in Africa
Definitions and etymological derivation of key terms: forensics, auditing, investigation, digital forensics
When does an audit become a forensic audit?
Responsibility for fraud control
Case Study – Procurement Fraud
Module 2: Legislative Framework & Standards for Lifestyle audits
Definition of a Lifestyle audit
Applicable legislation governing the conduct of a Lifestyle audit.
Applicable auditing standards for Lifestyle audit
Types of Lifestyle audits
Lifestyle audits as a barometer of fraud and corruption in an organisation
The future of Lifestyle audits
Case Study – Lifestyle audits in various countries
Module 3: Money Laundering Scheme
Money Laundering Laws and Regulations
Common Money Laundering Schemes
Anti-money laundering and countering financing of terrorism
The role of cash vs other methods of payment
Processes in monitoring money laundering transactions and reporting
Case Study – Money Laundering Scheme by an Employee
Module 4: Digital Forensic Auditing and Investigation
Myths surrounding information systems and processing facilities that are exploited by fraudsters.
Unique features of digital forensic investigation – commingled data, trans-border operations, evidentiary materials, victim apathy and the impact of each of these on digital forensic audit
Data and file recovery and analysis
E-mail forensics – e-mail as evidence
Authentication of digitally signed documents and transactions
Major risks in IT systems and privacy concerns
Analytics software – uses, limitations and caveats.
Data mining and warehousing – use and limitations
Case Study – Digital forensic analysis
Module 5: Lifestyle audits for Tax Evasion purposes
Tax evasion schemes
Selection of audit targets
Cash T method
Source and Application of Funds Method (Expenditure Approach)
Net Worth method
Case Study – Conducting a Lifestyle audit for tax Purposes.
Module 6: Lifestyle audits for other purposes
Selection of audit targets
Planning a Lifestyle audit
Audit approach and techniques
Reporting the results
Responsibility to report to prosecution authorities
Case Study – Conducting a Lifestyle audit for other Purposes.
Module 7: Reporting and Presenting Forensic Audit Findings to the Board, Law Enforcement, and the Court – Auditor as Expert Witness
What should you report and what need not be reported?
Professional standards governing reporting
Oral and written reports – guide to make them acceptable.
Good presentation techniques
What should your report achieve?
Testifying as an expert witness – what you should say and should not?
Case Study – Drafting a Lifestyle Audit Report
Discover how our courses enhance professionals’ effectiveness in their workplaces.
Very happy with the training. It was excellently delivered and comprehensively covered all critical aspects of ESG and effectively contextualised them within the environments of our respective organisations.
The course was eye opening and exceeded my expectations.
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