- Duration: 3 days
Course overview
The risk of fraud is just one of the many types of risks to be managed by an organization; however, many risk management professionals tend to underestimate the impact of fraud in the scope of their professional duties. The failure to properly manage this risk 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. This course will discuss the components of a comprehensive and effective fraud risk management program including the elements of deterrence, detection, investigation and remediation.
Course Learning Outcomes
At the end of this course the participants will be able to:
• Learn the elements of a fraud risk management program including the establishment of fraud risk governance policies
• Discuss the steps involved in developing a fraud risk management program, as well as the program components necessary to fully manage the risk of fraud.
• Review risk management frameworks established by COSO, ACFE, IIA and other relevant organizations.
• Understand why organizations should manage fraud risk and assign roles and responsibilities for elements of the program.
• Identify red flags related to a variety of occupational fraud schemes
• Learn tools and techniques to detect and investigate instances of fraud.
• Identify, assess and manage fraud risks from all sources and support fraud risk management initiatives by establishing an anti-fraud culture and promoting fraud awareness throughout the organization.
• Identify the elements of a strong ethics & compliance program.
Course content
Module 1 – Enterprise & Fraud Risk Management
Module 2 – Fraud Risk Governance
Module 3 – Fraud Detection Programs & Controls
Module 4 – Fraud Risk Assessment
Module 5 – Skimming & Expense Reporting Fraud Schemes
Module 6 – Cash Larceny Schemes
Module 7 – Payroll Fraud Schemes
Module 8 – Billing Schemes
Module 9 – Bribery & Corruption
Module 10 – Accounting Principles and Financial Statement Fraud
Module 11 – Fraud Risk Assessment Case Study
Module 12 – Ethics & Compliance
Module 13 – Conducting Investigations
Module 14 – Investigations Case Study
Module 15 – Final Exam
Target audience
This course is ideal if you are a current or potential board member of a public or private entity.
Training Methodology
State-of-the-art business facilitation methods are transferred by means of short, focused presentations which are followed by experiential learning workshop sessions. In these sessions, the knowledge gained is applied to real-world examples and case studies. Rapid learning of the methods and techniques is achieved by means of group work, individual work, participant discussion, facilitator interaction and constructive feedback.
WHY STUDY WITH US?
Diamond Training Institute give you the opportunity to further your education and acquire the knowledge and skills that are relevant in the workplace.
ON-TRACK FOR GROWTH
The individual leaves this course with a Personal Action Plan to encourage immediate transfer of training to the job.
EVALUATION TO ENSURE CONSISTENT QUALITY
All our courses are evaluated at Kirkpatrick’s Reaction and Learning levels as part of our quality control process.
Download Course Outline Here
