Fraud Risk Assessment Course

Course Level: Foundation

Course Objectives

·         Define and explain the concept of fraud.

·         Differentiate between fraud, error, and abuse.

·         Explore various types of         fraud, such as financial statement fraud, asset misappropriation, and corruption.

·         Define and explain the concept of fraud.

·         Differentiate between fraud, error, and abuse.

·         Explore various types of fraud, such as financial statement fraud, asset misappropriation, and corruption.

·         Define and explain the concept of fraud.

·         Differentiate between fraud, error, and abuse.

·         Explore various types of fraud, such as financial statement fraud, asset misappropriation, and corruption.

·         Define and explain the concept of fraud.

·         Differentiate between fraud, error, and abuse.

·         Explore various types of fraud, such as financial statement fraud, asset misappropriation, and corruption.

·         Define and explain the concept of fraud.

·         Differentiate between fraud, error, and abuse.

·         Explore various types of fraud, such as financial statement fraud, asset misappropriation, and corruption.

·         Define and explain the concept of fraud.

·         Differentiate between fraud, error, and abuse.

·         Explore various types of fraud, such as financial statement fraud, asset misappropriation, and corruption.

·         Develop and implement strategies to mitigate fraud risks.

·         Identify and prioritize fraud risks for appropriate mitigation actions.

·         Develop and implement strategies to mitigate fraud risks.

·         Identify and prioritize fraud risks for appropriate mitigation actions.

Course Outline

Module 1: Introduction to Fraud and Fraud Risk Management

·         Definition of Fraud

·         Types of Fraud

·         Importance of Fraud Risk Management

·         Legal and Regulatory Framework

 Understanding the Fraud Triangle

·         Fraud Triangle Components (Pressure, Opportunity, Rationalization)

·         Behavioral Aspects of Fraud

Module 2: Fraud Risk Assessment Frameworks

·         COSO Framework

·         ISO 31000: Risk Management

·         ACFE Fraud Risk Management Framework

Identifying and Assessing Fraud Risks

·         Risk Identification Techniques

·         Risk Assessment Methods

·         Scenario Analysis and Case Studies

Module 3: Internal Controls and Fraud Prevention

·         Role of Internal Controls

·         Implementing Preventive Controls

·         Segregation of Duties

Module 4: Data Analytics for Fraud Detection

·         Data Mining Techniques

·         Predictive Analytics

·         Fraud Detection Tools and Technologies

Investigative Techniques and Forensic Accounting

·         Conducting Investigations

·         Forensic Accounting Principles

·         Interviewing Skills

Module 5: Reporting and Communication

·         Reporting Fraud Risks

·         Communicating with Stakeholders

·         Whistleblower Programs

Ethics and Professional Standards

·         Ethical Considerations in Fraud Risk Assessment

·         Professional Standards and Codes of Conduct

Case Studies and Practical Applications

·         Real-world Case Studies

·         Group Exercises and Discussions

·         Hands-on Application of Fraud Risk Assessment Techniques

Emerging Trends in Fraud Risk Management

·         Cybersecurity Risks

·         Social Engineering

·         Technological Advancements and Risks

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