Course Description
All organizations are subject to fraud risk. ACFE studies show that on average 5% of revenue is lost to internal fraud schemes within an organization. Creating fraud awareness in an organization and understanding how to properly identify and assess potential fraud risk will help an organization to develop an effective fraud program that can reduce the potential financial, reputation and organization risks that can be associated with fraud. The ability for an organization to prevent and detect fraud begins with fraud awareness – how it occurs, what the characteristics of fraudsters and what to do when fraud is suspected.
This class is designed to help individuals learn and develop the skills necessary to help drive, implement and execute an effective Fraud Awareness Training Program in their organization as part of an overall Fraud Prevention Program through the use of case studies, best practices and exercises with the class.
Learning Objectives
- Understanding the fraud triangle
- Understanding fraud fundamentals
- Characteristics of fraudsters
- Knowledge of Prevention and Detection Programs for Fraud
- Understanding the importance of Ethics, Compliance and Tone at the Top
- How to identify the Red Flags of Fraud
- How to implement a Fraud Awareness program
Course Outline
Why Fraud Awareness is Necessary for Every Organization
- ACFE 201s Report to the Nations
- Case Studies and Examples
Principals for Managing Fraud Risk in an Organization
- Governance
- Fraud Risk Assessment
- Prevention
- Detection
- Reporting
Fraud Basics
- The Fraud Triangle
- Fraud Statistics
- Fraudsters – characteristics and behaviors
- Recognizing Red Flags for Fraud
Fraud Awareness Core Requirements
- Hotlines
- Ethics Training
- Code of Conduct
- Tone at the Top
Implementing Fraud Awareness Training in Your Organization
- Define the Training Needs
- Develop the Learning Objectives
- Select the Target Audience
- Select the Training Methods
- Develop the Training Content
- Administer the Training
- Evaluate and Improve the Training
Additional Information
Who Should Attend
- Internal Audit (Operational, Financial, and IT) staff and management
- Internal Control professionals
Learning Level
Intermediate
Delivery
Group Live or Group Internet-Based
Field
Auditing
Advanced Preparation
None
Recommended Prerequisites
None
Session Duration
On Site: 1 day
CPE Credits: 8