Fraud Prevention and Financial Integrity
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Fraud Prevention and Financial Integrity Course
Introduction:
The objective of this Program is to provide participants with practical knowledge and skills in anti-fraud management requirements. The Program encompasses nine major subject areas and employs a range of training techniques to ensure effective learning. The curriculum focuses on key areas such as comprehending the impact of fraud on organizational value, identifying the responsible parties for managing fraud exposure, recognizing the role of corporate governance and ethics in this process, and implementing anti-fraud measures.
Throughout the Program, the emphasis is placed on practical and pragmatic approaches, prioritizing real-world application rather than theoretical concepts. By the end of the Program, participants will have gained a practical understanding of anti-fraud management and be equipped with the tools necessary to address fraud-related challenges in their organizations.
Course Objectives:
At the end of this Fraud Prevention and Financial Integrity Course, learners will be able to do:
- Understand the nature of fraud for your organization and be capable of developing an organizational response to its risks
- Appreciate the relationship between corporate ethics, governance, and fraud, including the market expectation of that relationship
- Know what drives your fraud exposure both at home and abroad and understand the financial consequences of non-compliance
- Recognize the importance of developing a culture of compliance as a major tool in fighting fraud
- Produce a corporate anti-fraud program tailored to your own organization and learn how to optimize your organizational structure for compliance
Who Should Attend?
This program has been developed for professionals responsible for preventing fraud and protecting the interest of their organizations and working in the areas of finance, auditing, security, compliance, anti-fraud, anti-money laundering, risk, legal, accounting, contracts, IT, procurement, and purchasing.
Course Outlines:
Fraud in the Global Context
- What is fraud?
- Extent of fraud
- Types of fraud (employee embezzlement, vendor fraud, customer fraud, management fraud, investment scams, and other consumer frauds)
- The fraud triangle
Regulatory Response to Fraud
- Global initiatives
- US initiatives
- UK initiatives
- Other initiatives
Ethics and Fraud Control
- What are corporate ethics?
- Ethics and corporate accountability
- Benefits of a commitment to sound business ethics
- Corporate ethics guidelines
- Governance and Its Impact on Corporate Fraud
- What is governance?
- Governance structures
- The role of the board in establishing a culture of compliance
- Protection of shareholder value
Fraud and Its Impact on Corporate Reputation
- Is reputation important?
- Risk and reputation
- Building reputational value
- Avoiding exposure
- Fraud Typologies
- Identity theft
- Cheques fraud
- Credit and EFTPOS fraud
- Other emerging typologies
Information and Security Threats
- Why is information security important
- Enterprise security threats
- Response to information security threats
- Information security control environment
Whistleblower Program’s and Fraud Prevention
- Review of global legislation
- Implementation of a whistleblower procedure
- Whistleblower report response
- Internal control environment requirements
- The Fraud Investigation
- Receipt and analysis of complaint
- Planning and implementing the investigation
- Compliance enforcement options
- Briefs of evidence/finalizing investigation
- Case studies will be used to demonstrate the importance of anti-fraud Programs