The Anti-Fraud
Training program is designed to enable fraud professionals to obtain a solid
understanding of the key pillars that are required to fortify their
organizations against fraud.
This program
focuses on prevention and enables participants to identify areas within their
organizations that are most vulnerable to fraud, providing them with the
guidance and tools that will enable them to assist their organizations in
designing the appropriate framework to strengthen these areas of vulnerability.
The anti-fraud
program focuses on Fraud Risks with a specific objective of how anti-fraud
professionals can enable their organizations to identify the essential fraud
risks impacting their organizations and what are the necessary steps they need
to adopt to mitigate these risks from materializing.
This program also
involves a detailed case study involving a recent multi-national fraud that was
revealed in 2020, whereby participants will draw conclusions on what happened
and how it could have been prevented.
Understand the importance of effective governance in the establishment of a solid Fraud Risk Management Framework.
Identify Fraud Risks at the Board of Directors Level
Identify Fraud Risks at the Executive Management Levels
Identify the different types of fraud schemes that may impact your organization.
Determine the different anti-fraud controls that need to established to address different types of risks throughout the organization.
Fraud Case Studies
Wirecard
Wellsfargo Bank
Volkswagen
Fraud Risk Management Framework:
We will provide the participants with an overview as to many guidance on Fraud Risk Management that have been globally published such as the Fraud Risk Management Guide that has been developed by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the Association of Certified Fraud Examiners (ACFE). We will also discuss how an organizations existing Enterprise Risk Management (ERM) framework can be further tailored to incorporate a specific section on fraud risks.
Board of Directors:
Many professional surveys have highlighted that the costliest frauds are those that take place at Board of Directors & Executive Levels. Therefore, the Board of Directors has a critical role in ensuring that they have developed the necessary internal mechanisms that mitigate fraud risks at their level.
This program focuses on what these specific governance disciplines are and how they can be implemented to further strengthen the ability of the Board to practice its oversight responsibilities in a transparent and competent manner.
The key Topics highlighted in this area address:
Related Party Transactions
Conflicts of Interest
Code of Conduct
Performance Assessment
Embedding Fraud Risks in Strategy Development
Remuneration Policies
Fraud Risk – Risk Management, Internal Audit or Compliance?
Policies & Procedures
Culture
Whistleblowing
Systems & Automation
Employee Accountability
Performance Measurement
Fraud
Risk Management Guide
Fraud
Risk Governance
Fraud
Risk Assessment
Fraud
Control Activity
Fraud
Investigations & Corrective Action Plans
Fraud
Risk Management Monitoring Activities
Fraud
Risk Management
Analyzing
Internal & External Factors
Types
of Fraud Risks
The
Fraud Triangle Data Analytics & Risk Identification
The
Fraud Risk Register
Factors
influencing Fraud
The
Anti-Fraud Play Book
Different
Fraud Schemes
Thinking
like a fraudster
Fraud Risk Assessment & Identification:
Fraud Risks cannot be managed if they are not identified. Fraud Professionals need to have the ability to identify fraud risks in any process they encounter and most importantly, they need to have the ability to train and guide process owners in identifying fraud risks. Therefore, this section will focus on the key techniques that fraud professionals need to acquire to effectively identify fraud risks.
Participants will conduct several case studies that will enable them to effectively identify and document fraud risks that may result in different types of fraud schemes across different industries.
Once Fraud Risks
are identified participants need to learn how to design anti-fraud controls
that mitigate identified fraud risks. We will not only focus on the effective
design of anti-fraud controls but also the challenges faced by many
organizations in ensuring that these controls not only exist in form but also
in substance. This section will focus on the following:
Automated Vs. Manual
Controls
Preventive &
Detective Controls
Control Reports &
Data Analysis
Technology & Related
Controls
Whistleblowing system
Code of Ethical Conduct
External Auditors
Effective Internal Audit
Functions
Whistleblowing Systems
Anti-Fraud Policy
Employee Support
Programs
Fraud Trainings for
Executives/ Employees
Dedicated Fraud
Department
Fraud Risk Assessment
Proactive Data
Monitoring / Analysis
Rewards for
Whistleblowers
Although the
main aim of this program is to focus on fraud prevention through the design and
implementation of an effective Fraud Risk Management Framework. We have
allocated a section on fraud investigations to ensure that participants can
implement one of the Fraud Risk Management components relating to Fraud
Investigations & Corrective Action Plans. This section will briefly cover
the following:
Why conduct fraud
examinations?
What fraud examinations
entail?
Fraud Theory Approach
Fraud Response Plan
Initial Response to
Suspicions or Allegations of Fraud
Planning &
Conducting Formal Investigations
Investigation Plan
Pre-Fraud Examination
What are the Goals From
the Examination?
Determine Scope of
Investigation
Establish Investigation
Timeframe
Outline the Course of
Action
Analyzing Documents
Types
of Evidence
Forensic
Documentation Examinations
Chain
of Custody
Interviewing
Characteristics
of Successful Interview
Elements
of Conversations
Inhibitors
of Communications
Facilitators of Communication
Risk Management
Professionals
Compliance Professionals
Internal Auditors
Fraud Examiners
