The Forensic, Fraud, Internal Controls and their effects on Financial Statements (North Rift Branch)

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)

The Forensic, Fraud, Internal Controls and their effects on Financial Statements – North Rift Branch
Date: 8th-9th October  2026
Time: 09.00am -3.30pm
Venue: Kitale, TBC

Overview

Financial statements are a critical source of information for investors, regulators, management and other stakeholders, as they provide insight into an entity’s financial position and performance. However, the reliability of these statements can be compromised by fraudulent activities, weak internal control systems and deliberate financial misstatements. Forensic accounting has therefore become an important discipline in identifying, investigating and addressing financial irregularities. Understanding the foundations of forensic accounting and financial fraud, as well as fraud risks in financial reporting, is essential in safeguarding the credibility and integrity of financial information.

Fraud can have a substantial impact on the reporting of financial statements, including the overstatement of assets, understatement of liabilities, overstatement of revenues and understatement of expenses. These have a direct influence on the reporting of the Statement of Financial Position, the Statement of Profit or Loss and the Statement of Cash Flows. Analyzing the influence of fraud on the reporting of the financial position of an entity, the influence of fraud on the reporting of the profit or loss of an entity, and the influence of fraud on the reporting of the cash flows of an entity provide an overview of the influence of fraudulent activities on the financial position of an entity.

Strong internal control systems and financial reporting reliability play a fundamental role in preventing and detecting fraud within organizations. Effective control frameworks, supported by governance structures and oversight mechanisms, reduce the opportunities for manipulation and enhance accountability. At the same time, failures in governance and control breakdowns can create an environment where fraud can occur or remain undetected, highlighting the importance of strong institutional frameworks, ethical leadership and effective monitoring processes.

This seminar will provide participants with practical insights into forensic techniques used in detecting financial statement fraud, the importance of effective governance and control of environments, and strategies for strengthening internal controls to safeguard financial statements. By exploring these areas, participants will enhance their ability to identify fraud indicators, understand the effects of fraudulent activities on financial reporting and apply stronger control and monitoring practices that improve transparency, accountability and confidence in financial statements.

Topical areas of discussion:

1. Forensic Audit:

• Financial records & evidence
• Audit procedures
• Evidence of irregularities
• Use of forensic audits in litigation and dispute resolution

2. Forensic Investigation, Report Writing & Evidence Preparation

• Forensic tools
• Evidence gathering techniques
• Chain of custody and evidence preservation
• Structuring forensic reports for legal and management use

3. Fraud Risk Assessments

• Fraud risk identification and mapping
• Fraud risk assessment frameworks and methodologies
• Designing and implementing fraud risk registers

4. Internal Control Systems, Policies and Procedures & Financial Reporting Reliability

• Control design and implementation best practices
• Control testing and evaluation techniques
• Link between internal controls and reliable financial reporting

5. Modern Day Fraud

• Emerging fraud trends (cyber fraud, mobile money fraud, procurement fraud)
• Digital payment systems and associated risks
• Insider fraud vs external fraud

6. Impact of Fraud on Financial Statements

• Effects on Statement of Financial Position, Profit or Loss, and Cash Flows
• Financial Statement Fraud Schemes and Red Flags

Target Audience:

This workshop will be useful to all professional Accountants and those aspiring to join the profession.

Continuous Professional Development Units (CPD UNITS):
Members of ICPAK and those from reciprocating professional bodies will be awarded 14 Structured CPD Units upon successfully completion of the seminar.

Financial Commitment:
The workshop charges are Kes. 10,000. Charges will cater for the seminar  fees, learning materials, and e-certificates of attendance.

Online Booking:
Registration: Delegates are reminded to note that online booking for the seminar is mandatory on https://www.icpak.com/event-registration/Online Booking We call on workshop participants to note that booking is available only online at www.icpak.com and will close one day before the training session. Delegates are reminded to note that online booking for the training is mandatory.

National Industrial Training Authority (NITA) Reimbursement:
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke).

Further requests can be channeled to us via telephone calls on, +254 0711 148569,  or via email to Ann Chomba  at ann.chomba@icpak.com with a copy to memberservices@icpak.com.

We encourage members to regularly visit our website https://www.icpak.com for updates.