Understand the nature of fraud, its distinguishing features, and the different types of fraud.
Acquire practical knowledge of effective fraud prevention measures, including establishing a strong internal environment, implementing policies and procedures, and conducting fraud risk assessments.
Develop skills for detecting and responding to fraud incidents, including recognizing red flags, conducting investigations, preparing fraud reports, and implementing recommendations for resolution.
The course will provide an appreciation of the ever-increasing risk posed by fraud and provide effective ways of addressing this threat. It will help participants understand what fraud is, how to set measures to minimize fraud, when to carry out fraud investigations to detect fraud, how to report and assess the impact of fraud and recommend actions to prevent its recurrence.
Who Should Attend
Risk managers, compliance officers, internal auditors, legal personnel banks, financial institutions, regulatory bodies, stock exchanges, insurance companies, auditing firms, and employees of other entities engaged in financial activities and capital markets.
- Apply fraud prevention and detection techniques to identify and mitigate potentially fraudulent activities within an organization.
- Demonstrate the ability to effectively report and respond to fraud incidents, including conducting investigations, preparing reports, and implementing appropriate recommendations.
- Analyze and evaluate the effectiveness of existing fraud prevention measures in an organization and propose improvements to enhance fraud prevention and detection efforts.
Governance Dynamics is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
- Date Sept 18, 2023
- Duration 1 Day
- Location Online
- Program Level Intermediate
- CPE Credit 4 CPEs
- Certificate of Attendance
- KSA Time 5:00 PM - 9:00 PM
- UAE Time 6:00 PM - 10:00 PM
- Time 4 Hours
- Field of Study Specialized Knowledge
- Fraud Awareness
- Fraud versus other crimes
- Fraud triangle
- Organizational versus individual fraud
- Fraud Deterrence Framework
- Elements of the framework
- Core responsibilities
- Fraud Preventive Measures
- Internal environment
- Policies and procedures
- Segregation of duties
- Authorization levels
- Responsibilities of fraud risk assessment
- Fraud Detective Measures
- Red flags – nature and examples
- Suspicious reporting and whistleblowing policy
- Forensic auditing
- Evidence types and legal acceptance
- Actions to Take After Detection
- Interviewing suspects: techniques
- Legal cautions related to interviewing and fraud accusations
- Fraud report elements
- Fraud Resolutions
- Recommendations and legal acceptance
- Rectifying effects and learning the lessons