Fraud Risk Assessment: Uncover and Assess Vulnerabilities for Occupational Fraud Date: 20th-22nd May, 2015 Location: Mombasa, Kenya |
CPD Hours: 21 Hours Your Investment: Ksh 79,850 (w/o VAT Tuition Only)  |
PROGRAM OVERVIEW
Fraud is an equal opportunity business risk that doesn’t discriminate in all its forms.
It occurs in large, medium and small organizations across all industries and sectors regardless of location. The most unfortunate fact about fraud is that most of it goes undetected and when detected – its largely unreported (for various reasons). It can occur as a single large incident where millions of corporate resources are lost at once or as tiny multiple incidents which when combined over time will have a big impact on the organizations bottom-line.
This 3 day workshop is designed to provide participants with the tools and techniques on how to identify vulnerabilities for fraud, assess those vulnerabilities and ultimately build functional programs to prevent material fraud at various levels within the organization. Participants will also learn how to integrate fraud risk management programs with other risk management efforts within the organization and implement its effective monitoring mechanism along the 3 lines of defense approach.
This workshop has also been designed to assist Operational, Audit , Security, Legal and all personnel required to manage risk at their places of influence and in particular, be able to understand:
• How Fraud Occurs – The Fraud triangle & the realities of fraud
• Types of Fraud and Fraud Schemes
• Cyber Fraud Risk
• How to conduct Fraud Risk Assessments at various levels with the organization
• Auditing for Fraud – Building effective fraud audit programs
• Fraud prevention programs
• What should happen (legally) after you have detected fraud
• Fraud monitoring programs
• Understanding forensic fraud audits
AGENDA
DAY 1 DAY 2 DAY 3
– Fraud Red Flags
– Fraud Awareness programs
– Barriers to Fraud Risk Management
– Corruption schemes, etc
– Tools and techniques for identifying fraud risks
– Building the Fraud Risk Register
– Fraud Risk Management & The Internal Audit Function
– Forensic Auditing
| Introduction & Expectations Management |
– Definitions
– Why and How Fraud is committed
– Fraud Red Flags
Fraud and the Control Environment
– The Fraud Risk Governance
– Fraud Policy
– Roles and Responsibilities in Managing Fraud
– Tone at the Top
– Fraud Awareness programs
Fraud and the Control Environment
– Ethics and Code of Business Conduct programs
– Barriers to Fraud Risk Management
The Fraud Risk Universe
– Understanding major fraud risk areas
– Fraud Risk Factors
– Types of fraud
– Who commits fraudFraud Risk Schemes – Understanding potential fraud schemes and events
– Various levels within the organization where fraud can occur
– Financial Statement Fraud,
– Management Fraud
– Misappropriation of assets,
– Fraud in Core Business Functions
– Third Party Fraud
– Cyber Fraud
– Corruption schemes, etc
Fraud Risk Identification
– Tools and techniques for identifying fraud risks
Fraud Risk Analysis
– Assessing Fraud Risk Impact and Likelihood
– Assessing Residual Fraud Risks
– Building the Fraud Risk Register
Risk Responses
– Prevention Controls
– Directing Controls
– Detective Controls
Fraud & Other Risk Management Efforts – Integrating Fraud Risk Management to ERM ( Enterprise Risk Management)
– Fraud Risk Management & The Internal Audit Function
What should Happen after you have deteced Fraud
– Legal Considerations and protocols
– Conducting Investigations
– Forensic Auditing
Fraud Monitoring
– Assessing Fraud Control Effectiveness (test of controls)
– Continuous monitoring and Annual Risk Assessments
– Developing Audit programs to Audit potential Fraud Exposures
Workshop Evaluation & Wrap Up
– Action Planning, Evaluation & Award of certificates
WHO SHOULD ATTEND
Internal Audit Managers, Risk Managers, Audit Seniors, Audit staff, IT Auditors, Chief Audit Executives , Experienced Auditors as well as those eager to pursue the profession of Internal Auditing.
