Fraud Risk Management (Tools And Techniques)

The field of risk management had attracted an increasing amount of attention in the wake of the current economic meltdown. Stakeholders have come to comprehend the negative effects of uncontained risks, especially in an organisation’s daily operation. 

One of the greatest risk factors are internal and external fraud schemes, which include misrepresentation of material facts for personal gain, while causing damages to stakeholders at large. Such incidences result in grave financial loss, regulatory fines, and reputational damage. 

This program takes participants through the essentials of corporate fraud, red flags which comes along with each scheme and the means for adopting a comprehensive Fraud Risk Management Framework. Industry standards and international guidelines will be used to navigate discussions as participants go through sample case studies provided.

Objectives:

At the end of the programme, participants will be able to:

• Recognise current fraud schemes and common red flags;
• Conduct fraud risk assessment to determine the level of control activity required within specific functions;
• Strategize prevention and detection measures at an organisational level;
• Apply the investigation life cycle which includes planning, analysing, interviewing, data analysis and reporting.