Risk Management: Internal Control & Fraud Prevention

An Intensive 5-Day Training Course

Risk Management:
Internal Control & Fraud Prevention

The Keys to Success in our Fast-Changing World

Scheduled Dates

14 - 18 Aug 2023 Dubai - UAE $5,950
09 - 13 Oct 2023 Singapore $5,950
08 - 12 Jan 2024 Dubai - UAE $5,950
29 Jan - 02 Feb 2024 Cairo - Egypt $5,950
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Are the scheduled dates matching with your needs?

We provide a wider range of training options. Tailored and customized, we can deliver your organization’s training needs anytime, anywhere.

Why Choose this Training Course?

In the ever-changing business environment, encountering risk is inevitable. The ability to manage these increasingly significant risks now represents the difference between a thriving organisation and one that is struggling to deal with the challenges facing it.

To deal with these challenges requires extensive knowledge of risk management, effective internal control and proactive fraud prevention techniques. This is exactly what you will find in this course. This Risk Management training course will enable you to develop and deliver a systematic plan to strengthen your risk management, fraud prevention and  internal control environment.

This PetroKnowledge 'Risk Management: Internal Control & Fraud Prevention' training course will highlight:

  • The power of an integrated approach to risk management and internal control
  • A proven approach to grab management’s attention regarding risk and control
  • A simple method to reduce unnecessary controls
  • How to develop an effective fraud prevention strategy

What are the Goals?

After completing this 'Risk Management: Internal Control & Fraud Prevention' training course, you will be able to:

  • Ensure your organization has an effective balance between risk and internal control
  • Explain to management the benefits of an enterprise –wide approach to risk and internal control
  • Apply the different techniques for identifying and managing risks
  • Ensure that preventative, detective and corrective controls are in place
  • Link risk management and internal control into the business planning process
  • Implement an effective fraud prevention process
  • Promote a culture of integrity and ethics across the organisation

Who is this Training Course for?

This 'Risk Management: Internal Control & Fraud Prevention' training course is suitable to a wide range of professionals but will greatly benefit:

  • Risk Managers
  • Business Managers in line functions
  • Audit Managers and other auditors
  • Quality Assurance Professionals
  • Managers needing a broader understanding of risk and internal control

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 risk management or fraud prevention to attend
  • Delegates should have a good educational standard and/or a professional qualification
  • 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

Organisational Impact

This training course will benefit organisations in all business sectors. It will provide the basis for implementing an integrated risk management, internal control and fraud prevention infrastructure. The financial and operational benefits will be significant.

This 'Risk Management: Internal Control & Fraud Prevention' training course will enable organisational knowledge to be enhanced in the following areas:

  • Enhancing the current risk management process
  • Developing a more effective approach to deal with emerging events
  • Structuring the internal control process to focus on both business and fraud risks
  • Building a better appreciation of critical internal controls
  • Identification and simplification of overlapping processes
  • Developing a structured fraud prevention strategy

Personal Impact

This training course will enable delegates to enhance their personal knowledge in the following disciplines:

  • Simplification of complex processes
  • Learning why internal controls will not always protect you
  • Internationally recognised risk management strategies
  • Delivering enhanced benefits by linking risk, control and fraud prevention into one seamless process

Daily Agenda

Day One: The Power of Effective Risk Management

  • The Importance of Managing Risks Efficiently and Effectively
  • The Need to Embed the Risk Management Process
  • The Key Link between Risk and Objectives
  • Risk Measurement Techniques
  • Selling the Benefits
  • Ensuring an Effective Balance between Risk and Control
  • ISO 31000 Risk Standard
  • Risk Appetite – The least well understood aspect of risk?

Day Two: Effectively Managing the Risk Process

  • Risk Mitigation Processes
  • The Risk Register – and How to simplify them and optimise their value
  • Identification of Risk Exposures – The 4 T’s
  • Developing Action Plans and Improvement Opportunities
  • Dealing with Over-managed Risks
  • Linking the Output into the Business Planning Process
  • Reputation Risk Management
  • Engaging Stakeholders in the Process

Day Three: The Internal Control Environment

  • The Need to See Internal Control as a Positive Process
  • The Pressure on Internal Controls due to Leaner Business Structures
  • The COSO Internal Control Integrated Framework
  • The 3 Types of Control – Preventative, Detective and Corrective
  • How to Get Senior Management to Take Internal Control Seriously
  • Compliance with Procedures and Policies
  • The Constantly Changing Regulatory Requirements

Day Four: The Key Pressures on the Internal Control Processes

  • The Changing World Economy and the Impact on Controls
  • The Ongoing Evaluation of the Control Environment
  • Information Security
  • Controls Over Technology
  • Systems Development and the Risk to Internal Controls
  • Internal and External Communications – and the Control Impact
  • The Need for Internal Control Procedures Be Kept up-to-Date

Day Five: Proactive Fraud Prevention

  • Why internal controls may not protect you against fraud?
  • How to Implement a Best Practice Fraud Prevention Process
  • Evaluating the Fraud Risks
  • Developing a Fraud Consciousness Loop
  • The Anti-fraud Policy
  • Recognising the Patterns of Fraudulent Behaviour
  • Promoting Integrity and Ethics Across the Organisation

Certificate

  • On successful completion of this training course, a PetroKnowledge Certificate will be awarded to the delegates

In Association With

GLOMACS Training

Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients

Visit Website ›

Oxford Management Centre

Our collaboration with Oxford Management Centre aims to provide the best training services and benefits for our valued clients.

Visit Website ›

Frequently Asked Questions

How can I register for a training course?

  • To register online through our website, please click “Enroll Now” on the course page, complete and submit the form. A confirmation e-mail and instructions will be sent to the participant’s e-mail.
  • You may also get in touch with our Registration Team on
    +971 50 981 7386 | +971 2 557 7389 or send an email to reg@petroknowledge.com

When and how do I arrange payments?

  • Payments can be made in USD or UAE local currency AED (Arab Emirates Dirhams) either by Bank Transfer or by Credit Card. Our Bank Account details will be provided on the invoice.
  • Course fees are payable upon booking unless a valid, authorized Purchase Order is provided and accepted.
  • Invoices will be sent via email/courier to the ID/name and address provided.
  • The course fee shall be settled prior to course start date. Corporate payments with existing payment policy shall be relayed to us in advance.

When should I expect to receive confirmation of registration?

Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.

Is there a discount for more than one registrant/course?

For corporate fees and group registration, please send your query to info@petroknowledge.com.

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© 2023. Material published by PetroKnowledge shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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