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Why Choose this Training Course?
Did you know that it is estimated that fraud cost the world economy more than 3 trillion dollars in 2018?
Would you know if fraud was occurring in your organisation now?
Do you know what the major fraud risks are in your business?
Does your organisation have a fraud prevention strategy?
Do you have a formal programme to tackle the risk posed by fraud?
Do you have the use of any automated fraud detection techniques?
If fraud is suspected do you have a clearly defined approach for managing the investigation?
If you have answered “no” to any of the above questions you are not alone. Recent surveys have revealed that many organisations do not have a formalised approach to fraud prevention, detection or investigation.
This Fraud Prevention, Detection and Investigation training course on Fraud Prevention, Detection and Investigation will help you to:
Evaluate the likely frequency of cost of fraud in your organisation
Develop a world-class fraud prevention programme
Assess fraud scenarios by means of actual fraud cases
Target key areas of fraud with proven detection techniques
Significantly reduce the opportunities for corruption
What are the Goals?
After completing this Fraud Prevention, Detection and Investigation training course, you will be able to:
Evaluate and challenge management’s fraud risks
Understand how a fraudster thinks
Apply successful techniques to help prevent fraud
Promote an effective fraud prevention process
Adopt data mining as a fraud prevention and detection tool
Apply an effective fraud investigation process
Apply audit skills to fraud investigation
Spot when someone is not telling you the truth
Who is this Training Course for?
This Fraud Prevention, Detection and Investigation training course is suitable to a wide range of professionals but will greatly benefit:
Newly Appointed Fraud Specialists
Managers needing a broader understanding of how to investigate all types of fraud
Auditors who need to learn about the most modern approaches to fraud prevention and investigation
Members of fraud teams who need to learn more about targeting internal fraud
Managers needing a broader understanding of how to prevent and detect fraud
How will this Training Course be Presented?
This is a basic / intermediate level course and delegates are not required to have any previous experience in fraud prevention or detection to attend
There are no minimum educational requirements
No advance preparation is required
Delivery method – Group-live (with exercises and role-plays to simulate audit scenarios and situations that assurance professionals will encounter)
A short examination will be given at the end of the course
This Fraud Prevention, Detection and Investigation training course will benefit organisations in all business sectors and will provide both public and private owned businesses with a much greater appreciation of the ever increasing risk posed by fraud, and how to deal with these threats.
This PetroKnowledge training course will enable organisational knowledge to be enhanced in the following areas:
The breadth and impact of fraud risks, especially on business reputation
The range of fraud indicators
Achieving a cost-effective balance between prevention and detection
The legal implications
The need for vigilance
Developing an anti-fraud policy
This Fraud Prevention, Detection and Investigation training course will enable delegates to enhance their personal knowledge in the following disciplines:
Evaluating the fraud risks
Using interrogation techniques to detect fraud
Developing an effective fraud mitigation programme
Completing a successful fraud investigation
Delivering fraud awareness sessions to management
Day One: Fraud Risks
Fraud Explained: Definitions
Why is fraud such a serious issue?
ACFE Fraud Survey Results
The Cost of Fraud
Who commits fraud?
Profile of a Fraudster
Trends and Statistics regarding Detected Fraud
Why fraud is probably being perpetrated now in your organisation?
Evaluating the Fraud Risks
E & Y 13th Global Fraud Risk Survey Results
Fraud Risk Management Process
Managing the Business Risk of Fraud (IIA, CPA, CFE Paper )
6 Principles (from the paper )
Fraud Risk Management Programme should be in Place
Fraud Risk Exposure should be Assessed
Prevention Techniques to Avoid Potential Fraud Risk Events
Detection Techniques should be Established
A Reporting Process should be in Place
A Coordinated Approach to Investigation and Corrective Action
Building a Picture of the Major Fraud Risks
Supplier and Outsourcing Fraud
Fraud Risk Matrix
Fraud Risk Register Example
Fraud Risk Questionnaire
Generic Risk Factors
Design of Controls to Prevent Fraud
Physical and Logical Access
The IT Fraud Risks
Computer Fraud Paper
Computer Fraud Prevention
E-Commerce – The key fraud risks and steps to take to mitigate them
Internet and Intranet – The fraud risks
Preventing Internet Fraud Paper
IT Security – How to evaluate effectiveness and influence change?
Adoption and Enforcement of Information Security Standards
Segregation of Duties - The Dangers and the Practical Solutions
How to detect IT fraud?
Identity Fraud – The Fastest Growing Fraud Risk
Identity Fraud – Fraud Advisory Panel Paper
Identity Fraud Examples
How to protect your business?
The Risk of Corruption
Fraud Red Flags
Procurement Fraud Risks
The Issues to Look For
Bid Rigging – The issues to look for
Day Two: Developing a Fraud Prevention Process
How to evaluate fraud risk mitigation?
Why controls may not protect you?
Putting Yourself in the Mind of the Fraudster
Examination of Typical Controls in Place to Mitigate the Risks
Identifying the Vulnerable Areas
Tendering and Bidding
Supplier and Outsourcing Fraud
Procurement and Inventory Fraud Risks
A Procurement Fraud Checklist will be Provided
The Top 30 Fraud Indicators
How to spot the danger signals?
Fraud Indicators – Fraud Advisory Panel Paper
Developing a Toolkit for Identifying Possible Frauds
An Auditor’s Fraud Toolkit will be Provided
Implementing a Best Practice Fraud Prevention Process
CIMA Fraud Risk Management Guidance
Introducing Effective Anti-fraud Policies
Creating a Fraud Consciousness Loop
Development of a Fraud Awareness Training Programme
Communicating Standards of Expected Behaviour /Ethics
The Need for Strong and Consistent Action When Fraud is Suspected
Electronic Data and Asset Protection
Fraud Response Plans Paper
Anti Money Laundering – issues and requirements
Money Laundering Paper in the Pack
The Relationship between Fraud, Risk and Control
The Roles, Responsibilities and Liabilities of Auditors, Management, Specialists and Others
Day Three: The Link between Fraud Prevention and Detection
Aiming for a Cost-effective Balance between Prevention and Detection
Use of Management Check-lists
The Need to be Able to Think like a Fraudster – To be able to prevent it
Company Policy on Consequences of Committing Fraud
Facilitation of Whistle Blowing
Whistle Blowing Policy
Pros and Cons of External Hot-lines
Use of Specialists to Aid Detection and Investigation
Preparing and Implementing Fraud Contingency Plans
How to ensure fraud investigation is always given top priority?
Use of Successful Fraud Investigation as a Moral Deterrent
Managing the External Coverage of Proven Fraud
The Assurance Role regarding Fraud
Prevention and Investigation
Should Detection be an IA role?
The IIA States currently Detection is not an IA role
What should IA do to aid detection?
Use of Computer Assisted Audit Techniques (CAAT’s)
ACL as a Fraud Investigation Tool
ACL Fraud e- book
Examples of How to use CAAT’s in Fraud Investigation will be Shared
Benford’s and CAAT’s Paper
Day Four: Fraud Detection and Legal Issues
Data Mining as a Fraud Detection Tool
Fraud Detection Basics Paper
Fraud Profiling – How to target the right systems?
GTAG 13 Fraud Prevention and Detection in the Automated World
Data Mining Paper
Fraud Risk Prioritisation
How to get the information you need?
The Use of Internal Databases
Demonstration of External Databases
Automated Fraud Detection
How to put the techniques into use in your organisation?
Audit Software – The tools available
Practical Uses of Data Mining and the Results Achievable
The Legal Aspects
The Need to Stay within the Law
The Legal Implications
When to bring the lawyers in?
How to protect your work from disclosure? – legal privilege
How to ensure that evidence is admissible?
Search and Seizure Orders
Civil vs. Criminal Action
Bribery Act and the Implications for GCC Businesses
Gifts and Hospitality Guidance
How to recover stolen assets? – Making sure the criminal does not profit
How to handle disciplinary proceedings?
Employers and Employees Rights
What to do when you suspect fraud?
How to react when fraud is suspected?
How to decide who needs to be told?
Day Five: Fraud Investigation
Managing the Investigation
The Need for thorough Planning
Determining the Objectives of the Investigation
Who should be involved? – What skills do you need?
How to keep the investigation low-profile?
Conducting Fraud Investigations Guidance
Research – What information can lawfully be obtained?
What information is available and can be used?
Forensic Evidence and How to obtain it
Collating Information and Maintaining the Chain of Evidence
Knowing When to Suspend or Dismiss Employees
Fraud Investigation Report Template will be Provided
Interviewing Suspects and Witnesses
Setting the Scene – choice of venue, etc.
Do you know your legal authority for conducting interviews?
Can you use deception in interviews?
How do you avoid breaching the employees’ rights under law?
47 Tips for Fraud Interviews
Planning the Interview – do’s and don’ts
Fraud Interview – The 10 Steps
How to keep in control?
How to tell if someone is lying?
Communicating the Results
When and how to inform top management?
When to inform regulators / the police / etc?
Managing External Coverage
Dealing with the Media / Stakeholders
The Use of Successful Fraud Investigation as a Moral Deterrent
Rebuilding Damaged Relationships
On successful completion of this training course, a PetroKnowledge Certificate will be
awarded to the delegates
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