Fraud and Risk Management

Course Code: IFIS/RMA/005

About this Course

The risk of fraud is just one of the many types of risks to be managed by an organization. But to let this risk fall out of focus can bring catastrophic results. Building an effective fraud risk management program to combat organizational fraud requires solid understanding of how and why fraud is perpetrated.

With organizations losing an estimated 5% of their annual revenues to fraud, the need for a strong anti-fraud stance and proactive, comprehensive approach to combating fraud is clear. As organizations increase their focus on risk, they should take the opportunity to consider, enact and improve measures to detect, deter and prevent fraud.

Learning Outcomes:

  • Identify fraud risks and the factors that influence them
  • Identify the elements of a strong ethical corporate culture
  • Analyse existing risk management frameworks and their application to managing fraud risk
  • Develop and implement the necessary components of a successful fraud risk management program
  • Promote fraud awareness to employees at all levels of the organization

Training Outcomes:

On completion of this training, you will be able to:

  • Understand the fraud risks organisations face
  • Identify the principles and framework of good corporate governance and understand where the management of fraud risks sits within this
  • Analyse, score and mitigate against inherent and residual fraud risks
  • Understand the concepts of control and assurance
  • Devise and implement a fraud response plan
  • Understand the full risk management lifecycle
  • Plan and conduct an entity-wide fraud risk assessment

Course Outline

  1. Introduction to Fraud Risk
  2. Fraud Risk Management Overview
  3. Developing a Fraud Risk Management Program
  4. Fraud Risk Assessment
  5. Anti-Fraud Controls
  6. Ensuring Fraud Awareness
  7. Process level Anti-fraud controls
  8. Using Automated Continuous Monitoring Tools
  9. Responding to Discovered Fraud 

Target Audience

  1. Experienced counter fraud and investigation specialist
  2. Audit and finance managers
  3. Risk and compliance professionals
  4. Bank and financial institution auditors
  5. Forensic and management accountants, accounts payable and financial analysts
  6. Governance, risk management and compliance officers
  7. Internal and external auditors, CPAs, CFFPs and CAs
  8. Certified Fraud Examiners and other anti-fraud professionals

Duration and Fees

Duration: 2 days
Pricing: $134