Fraud Risk Management

Course Overview

The course aims to equip participants with a comprehensive understanding of fraud risk management, covering prevention, detection, and investigation strategies. Practical case studies and real-life scenarios provide a hands-on approach to applying learned concepts, and the course emphasizes the importance of legal and ethical considerations throughout the fraud risk management process.

Course Details:

Date: May 24th-25th 

Duration: 2 days

Continuing Professional Education (CPE) Credit: 4

Fee:

  • Members: 500,000
  • Non-Members: 700,000
  • Mode: In Person/Virtual

Course Objectives:

  • Define fraud risk management and its importance in organizational governance.
  • Gain insight into the impact of fraud on organizations.
  • Understand the components of the fraud triangle: motive, opportunity, and rationalization.
  • Explore various fraud models and frameworks for analyzing fraudulent behavior.
  • Develop skills to identify potential fraud risks within an organization.
  • Learn techniques for conducting a comprehensive fraud risk assessment.
  • Design and implement effective fraud prevention programs.
  • Understand the role of internal controls and employee training in fraud prevention.
  • Implement mechanisms for detecting potential fraud.
  • Develop strategies for responding to red flags and conducting fraud investigations.
  • Understand the role of technology in fraud detection and prevention.
  • Familiarize participants with data analytics tools for identifying anomalies.
  • Navigate the legal framework related to fraud risk management.
  • Emphasize ethical considerations in fraud prevention and investigation.
  • Develop effective communication strategies for fraud risk management.
  • Learn how to prepare comprehensive and understandable reports for stakeholders.
  • Apply learned concepts to real-world fraud cases and scenarios.
  • Understand the outcomes of successful and unsuccessful fraud risk management strategies.
  • Learn how to monitor and adapt fraud prevention programs to changing risks.
  • Promote collaboration among different departments for holistic fraud risk management.
  • Enhance communication channels for reporting and addressing potential fraud.
  • Evaluate various risk mitigation strategies and select appropriate measures.
  • Understand the cost-benefit analysis of different fraud risk management approaches.
  • Develop skills for leading and participating in multidisciplinary teams.
  • Create actionable plans for implementing fraud risk management measures.

Who Should Attend

  • Professionals responsible for overall risk management within an organization, including fraud risk.
  • Individuals involved in internal audit functions to assess and mitigate risks, including fraud risks.
  • Professionals ensuring that the organization adheres to laws, regulations, and internal policies, with a focus on fraud prevention.
  • Specialists specifically engaged in the detection and investigation of fraudulent activities.
  • Finance professionals responsible for the financial health and integrity of the organization.
  • Lawyers and legal advisors dealing with the legal aspects of fraud risk management.
  • Individuals responsible for protecting the organization’s information systems from fraudulent activities.
  • Entrepreneurs and top-level executives concerned with the overall risk posture of the organization.
  • HR specialists involved in employee training, background checks, and policy enforcement related to fraud prevention.
  • Professionals ensuring ethical conduct and compliance with industry standards and regulations.
  • Public sector employees responsible for managing fraud risks in government agencies.
  • Specialists in accounting who focus on investigating financial discrepancies, including fraud.
  • Risk management consultants providing services to various organizations.
  • Individuals dedicated to developing and implementing anti-fraud programs.
  • Professionals managing security measures to prevent loss due to fraudulent activities.
  • Professionals across various industries involved in identifying and managing risks, with a focus on fraud.

Prerequisites:

  • Familiarity with fundamental concepts of risk management provides a solid foundation for comprehending fraud risk management principles.
  • Professionals with experience in areas such as risk management, internal audit, compliance, finance, or related fields will find the course content more relevant.
  • Understanding the core operations of the organization is crucial for identifying potential areas of fraud risk.
  • A basic understanding of fraud concepts and common types of fraudulent activities is beneficial.
  • A basic understanding of financial principles and accounting concepts is helpful for assessing financial fraud risks.
  • Strong communication skills, both written and verbal, are important for conveying findings and recommendations in fraud risk management.
  • Awareness of information technology and cybersecurity concepts is beneficial, especially as fraud schemes increasingly involve digital elements.
  • Depending on the industry, participants may benefit from having knowledge specific to their sector, as fraud risks can vary across industries.
  • For executives and managers, having leadership experience can enhance the application of fraud risk management strategies within the organizational context.

Method of Delivery:

  • In-Person: The course will be conducted at a physical location. Participants will engage in face-to-face instruction, hands-on exercises, and group discussions.
  • Online: The course will be delivered through a virtual learning platform. Participants will have access to course materials, lectures, and interactive exercises

Completion Certificate: Upon successful completion of the course, participants will receive a certificate of completion, which can be used to claim Continuing Professional Education (CPE) credits.

Course Outline:

Module 1: Introduction to Fraud Risk Management

  • Definition and scope of fraud risk management
  • Understanding the impact of fraud on organizations
  • Overview of the regulatory landscape related to fraud prevention

Module 2: The Fraud Triangle and Fraud Models

  • Exploring the fraud triangle: motive, opportunity, and rationalization
  • Overview of other fraud models and frameworks
  • Understanding the psychological aspects of fraud

Module 3: Identifying and Assessing Fraud Risks

  • Techniques for identifying potential fraud risks
  • Conducting a fraud risk assessment
  • Quantitative and qualitative approaches to assessing fraud risks

Module 4: Fraud Prevention Strategies

  • Designing and implementing fraud prevention programs
  • Internal controls and their role in fraud prevention
  • Employee training and awareness programs

Module 5: Detection and Investigation

  • Implementing detection mechanisms
  • Responding to red flags and warning signs
  • Strategies for conducting fraud investigations

Module 6: Technology and Data Analytics in Fraud Risk Management

  • Leveraging technology for fraud detection and prevention
  • Introduction to data analytics tools for identifying anomalies
  • Best practices for integrating technology into fraud risk management

Module 7: Legal and Ethical Considerations

  • Understanding the legal framework for fraud risk management
  • Ethical considerations in fraud prevention and investigation
  • Reporting obligations and whistleblower protection

Module 8: Fraud Risk Communication and Reporting

  • Developing effective communication strategies for fraud risk management
  • Reporting fraud risks to stakeholders and management
  • Preparing comprehensive and understandable reports

Module 9: Case Studies and Real-Life Scenarios

  • Analyzing real-world fraud cases and their outcomes
  • Learning from successful and unsuccessful fraud risk management strategies
  • Applying lessons learned to current and hypothetical scenarios

Module 10: Continuous Improvement and Adaptation

  • Establishing a culture of continuous improvement in fraud risk management
  • Monitoring and adapting fraud prevention programs to changing risks
  • Engaging in regular risk assessments and reassessments

Register for the training here

Date

May 24 - 25 2024

Time

All Day

Cost

500,000.00/=

Location

4th Floor, Block B, Ntinda Complex
Opposite St. Luke Church
Category

Organizer

ACFE Uganda Chapter
ACFE Uganda Chapter
Phone
0414 231 136
Email
admin@acfeuganda.com
Website
ACFE Uganda Chapter
QR Code
Register for ACFE Africa Year-End Event

Join us in marking the Fraud Awareness Week, that will run from 12th to 18th November 2023.

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