The Beauty Fraud
– Black & White Swans
Fraud risk CANNOT be eliminated and can only Accepted, Avoided, Reduced or Transfer and the ironies are:
– FRAUD STARES AT US AND WE CHOOSE TO IGNORE IT. THE TELL TAIL SIGNS ARE STARING AT US AND WE KNOWINGLY OR UNKNOWINGLY CHOOSE TO IGNORE IT.
– COMPLYING WITH REGULATIONS WILL ENABLE YOU TO COMMIT FRAUD
This program entails deliberation of different schemes that perpetrators hatch and how easily the FRAUD could have been uncovered but we choose to ignore it. The program touches on the following processes:
– Sales and Receivables
– Procurement and Payment
– Financial Statements
– Human Capital
Learning Objectives
- How to identify the different types of schemes that can be hatched in each of the above processes
- How to spot the Red flags or tell tail signs for the hatched schemes
- Development of Prevention and Detection techniques to reduce the risk of it occurring in your Business
- Listing of fraud scenarios for 2 of the business processes complete with prevention and detection measures
Target Audience
- Chief Compliance Officers/Heads of Compliance/Governance/Risk
- Compliance Managers and senior GRC staff
- Senior Risk staff
- Managers with Governance responsibility
- Senior Internal and External Audit staff
- Staff dealing with CSR and/or ESG
- Company Secretaries
- Accountants
- Legal Practitioners
- Regulatory Representatives
- Company Directors/Board Members/Executives
Module Outline
- Understanding of key concepts in the world of FRAUDModule 1-
- Deliberation of framework and strategies in the space of FRAUDModule 2-
- Prevention and Detection controls to combat FRAUDModule 3-
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