Fraud Risk Management Certification

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 role 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 certification course will discuss the components of a comprehensive and effective fraud risk management program including the elements of deterrence, detection, investigation and remediation.

In this certification course, candidates will:

• 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

• Study case studies to support fraud risk management theory and practice

• Conduct group exercises to support the learnings

Course Modules include:

• Enterprise & Fraud Risk Management

• Fraud Risk Governance

• Fraud Detection Programs & Controls

• Fraud Risk Assessments

• Intro to Fraud Schemes, Skimming Schemes Expense Reporting Fraud

• Cash Larceny Schemes

• Payroll Fraud Schemes

• Billing Schemes

• Bribery & Corruption

• Financial Statement Fraud

• Fraud Case Study

• Ethics & Compliance

• Conducting Investigations

• Conducting Investigations Case Study

Learning Objectives:

• 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

• Study case studies to support fraud risk management theory and practice

• Conduct group exercises to support the learnings