Fraud Examination, Risk Management and Governance (Islamabad)

COURSE DESCRIPTION

Fraud and cybercrime have become the most commonly committed crimes in today’s world hence business industries need to better manage the constantly changing nature of these threats. The auditor has a crucial role to play in this, as finding fraud is an integral part of the auditor’s professional responsibility. The basic goal for most fraud examinations is to determine whether fraud occurred, and if so, who perpetrated it.

Fraud has become a serious concern for both commercial & non-profit organizations across the whole world. According to the study by the Association of Certified Fraud Examiners and researches at Concordia University, over 10% of all NPO/ Groups fall victim of Occupational Fraud. Awareness about Fraud and embedding anti-fraud procedures in the system of your organization can have significant impact on the sustainability of your organization in the long term. This workshop will help you to learn why people commit fraud, how to identify fraud risks. Establish an anti-fraud culture and ensure fraud awareness in your organization this course will explain how to build a robust fraud risk management program and how to integrate anti-fraud initiatives to your fraud risk management program.

COURSE CONTENTS

• Introduction to Fraud
  • What is Fraud?
  • What is cybercrime/ cyber fraud?
  • Current Global Fraud Statistics
  • The Fraud Triangle-Why people commit Fraud?
  • What is the purpose of fraud examination?
  • Planning & conducting Fraud examination
• Understanding Auditor’s Fraud related Responsibilities
  • Internal/ external auditors responsibilities for fraud detection
  • Apply data analysis techniques to find fraud
  • Ethical Obligations related to fraud
  • Fraud Detection-a Five step approach
• Conducting a Fraud Risk Assessment
  • What is Fraud Risk?
  • Reasons for conducting Fraud Risk Assessment
  • Component of Fraud Risk Assessment
  • Brief introduction to Internal Control Framework
  • Fraud Risk as part of ERM Program
• Conducting Fraud Risk Management
  • What is Fraud Risk Management?
  • Objectives of Fraud RISK Management Program
  • Steps in developing a Fraud Risk Management Program
  • Fraud Risk Management Program Components
• Prevention of Fraud
  • Fraud prevention Program
  • Establishing Fraud Policy
  • Significance of Governance, Risk & Compliance (GRC)
  • Fraud Prevention-The Four Step Approach
• Financial Statement Fraud and Corruption
  • Most costly form of Frauds: Financial Statements Fraud & Corruption
  • Common Financial Statements Manipulations
  • Common Corruption Schemes
  • Red Flags & methods to detect fraud
• Assets Misappropriation
• Schemes used by fraudsters to steal cash & Other assets
• Cash theft schemes
• Billing schemes
• Payroll Schemes

LEARNING OUTCOMES

• Reviewing current & new techniques in combating fraud & financial crimes
• Setting effective fraud detection & preventive procedures
• Developing a robust fraud awareness program within the organization
• To equip delegates with proven techniques in fraud prevention and detection so that they will be able to better manage these challenges in everyday business
• Revisiting role of governance in fraud risk management
• Utilizing this event for learning and networking with other industry professionals

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