IAC 133 - MASTERING INTERNAL CONTROLS & FRAUD RISK

INTRODUCTION

Organizations of all kinds and sizes are increasingly threatened by fraud. Embezzlement, cheque fraud, ATM fraud, Procurement Fraud, financial statement fraud and vendor billing schemes are just a few of the countless economic crimes committed by employees and outsiders.

This training session will provide staff and other financial professionals with a strong foundation of practical knowledge about how common frauds are committed using a combination of lecture, exercise and group breakout sessions.

Learning outcomes

    • Understand the fraud problem
    • Identify the red flags of fraud
    • How to detect and investigate fraud
    • Building an anti-fraud control environment
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    The Fraud Problem

    • Introduction
      • Statistical overview of the fraud problem
      • External versus Internal Fraud
      • Who commits fraud
      • Why employees commit fraud (The Fraud Triangle)
      • Lessons from fraudsters
    • Common Types of External and Internal Fraud Today
      • External Fraud
      • Internal Fraud

    Red Flags of Fraud

    • Conducting a Fraud Risk Assessment and Recognizing the Red Flags of Internal Fraud
      • The Fraud Risk Mitigation Cycle
      • Implementing an organization-wide system for detecting, preventing and investigating fraud

    Fraud Detection and Investigation

    • Fraud Detection
      • How Frauds Are Most Often Detected
      • Additional General Detection Methods
      • Data Mining/Analytics for fraud detection
      • Examples of Fraud Audit Techniques at Work
    • Basic Fraud Investigation Techniques
      • Forensic Accounting Investigation
      • Forensic accounting/auditing techniques: Data Mining and Analytics
      • Gathering and preserving evidence
      • Securing a crime scene
      • Interviewing/interrogating suspects
      • Documenting findings

    Anti-Fraud Controls

    • Internal Controls and Other Fraud Prevention Measures:
      • Who Should Manage Anti-Fraud Activities
      • Internal Controls: Do’s and Don’ts
      • Best Practices in Anti-Fraud Controls
      • General controls: Segregation of duties, delegation of authority, background investigation
      • Specific operations-level controls major fraud categories

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050 1335 818-20 / 050 424 9700 / 050 424 9800

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