Introduction

Fraud poses significant risks to organizations, potentially leading to financial losses, reputational damage, and regulatory penalties. Effective fraud risk management is essential to detect, prevent, and respond to fraudulent activities. This training course provides participants with a deep understanding of fraud risk management frameworks, tools, and techniques. It equips professionals to design, implement, and monitor fraud controls, ensuring their organizations remain resilient and compliant in today’s dynamic business environment.

Course Objectives

By the end of this course, participants will be able to:

1. Understand the principles and best practices of fraud risk management.
2. Identify and assess organizational fraud risks using proven methodologies.
3. Design and implement effective fraud prevention and detection controls.
4. Conduct fraud investigations and collaborate with law enforcement.
5. Develop and sustain an anti-fraud culture within their organizations.
6. Monitor and enhance fraud risk management programs to address emerging risks.

Who Should Attend?

This course is ideal for:

• Fraud risk managers and compliance professionals.
• Internal and external auditors.
• Financial controllers and forensic accountants.
• Risk management and corporate governance officers.
• Legal and regulatory professionals overseeing fraud cases.
• Business leaders and consultants involved in fraud prevention and response.

5-Day Training Outline

Day 1: Foundations of Fraud Risk Management

• Understanding Fraud: Definitions, Types, and Motives.
• The Fraud Triangle: Pressure, Opportunity, and Rationalization.
• Key Fraud Risk Management Frameworks (e.g., COSO, ISO 37001).
• Case Study: High-Profile Corporate Fraud Incidents and Lessons Learned.

Day 2: Identifying and Assessing Fraud Risks

• Fraud Risk Assessment Techniques and Tools.
• Identifying Red Flags and Early Warning Signs.
• Assessing Vulnerabilities in High-Risk Areas (e.g., Procurement, Payroll).
• Workshop: Conducting a Fraud Risk Assessment for a Simulated Organization.

Day 3: Fraud Prevention and Detection Controls

• Designing and Implementing Anti-Fraud Policies and Procedures.
• Internal Controls for Fraud Prevention and Detection.
• Leveraging Technology for Fraud Detection (e.g., Data Analytics, AI).
• Practical Exercise: Developing Fraud Controls for Key Business Functions.

Day 4: Investigating Fraud and Responding to Incidents

• Planning and Conducting Fraud Investigations.
• Evidence Collection, Documentation, and Preservation.
• Interviewing Techniques: Detecting Deception and Gaining Insights.
• Working with Law Enforcement and Legal Teams.
• Group Activity: Conducting a Simulated Fraud Investigation.

Day 5: Building and Sustaining an Anti-Fraud Culture

• Creating Awareness and Training Programs for Employees.
• Whistleblower Protection Programs and Reporting Hotlines.
• Monitoring and Enhancing Fraud Risk Management Programs.
• Emerging Trends: Cyber Fraud, Supply Chain Risks, and ESG Fraud.
• Capstone Activity: Developing a Comprehensive Fraud Risk Management Plan for a Case Study Organization.

Course Outcome

Participants will leave this training course with the knowledge and skills to develop and maintain robust fraud risk management programs. They will be prepared to identify vulnerabilities, implement effective controls, and lead fraud investigations with confidence. This course ensures participants can safeguard their organizations from fraud risks and foster a culture of integrity and accountability.