Introduction
This course is designed to equip participants with the knowledge and skills necessary to detect and prevent financial fraud. The course explores data analytics and forensic accounting techniques as well as asset misappropriation, financial statement fraud, and corruption. The participants will learn how to detect fraud, assess fraud risks, and prevent fraud. Furthermore, participants will learn about internal controls and the legal framework surrounding financial fraud. By the end of the course, participants will be equipped to identify and mitigate financial fraud risks within their organizations, contributing to asset protection and market trust.
Course Outline
- Module 1
- Module 2
- Module 3
- Module 4
- Module 5
- Course Objectives
- Target Audience
Introduction to Fraud
- Characteristics of fraudsters.
- Types of financial fraud.
- Fraud triangle.
- Common risk factors.
- Assessing fraud risk.
- Fraud’s financial and non-financial costs.
Internal Controls for Fraud Prevention
- Internal controls and fraud prevention.
- Key internal control frameworks such as COSO.
- Fraud mitigation using effective internal controls.
- Internal control effectiveness evaluation.
Governance, Risk Management, and Fraud Prevention
- Corporate governance and fraud prevention.
- Procedures and policies for anti-fraud.
- Creating an ethical and compliant culture.
- Conducting fraud risk assessments.
Auditing and Fraud Detection
- Role in fraud detection and prevention.
- Identifying patterns, anomalies and red flags.
- Accounting methods for investigating financial fraud.
- Audit procedures for high-risk areas.
Responding to Financial Fraud
- Secure evidence and limit damage.
- Report to stakeholders.
- Manage public relations.
- Recover losses.
- Strengthen internal controls.
- Implement lessons learned.
By the end of this course, participants will be able to:
- Gain a deeper understanding of fraud types, common scams, and the motivations behind fraud.
- Identify potential fraud risks within an organization and assess vulnerabilities.
- Explore robust internal controls and fraud prevention strategies for an organization.
- Learn how to utilize various tools and techniques to detect fraud early.
- Executing fraud investigations, including evidence gathering and analysis
- Develop procedures for responding to fraud, including legal and administrative actions.
This course is ideal for
- Accountants.
- Auditors.
- Executives and Managers.
- Compliance Officers.
- Risk Management Officers.
- Financial Analysts.
