Fraud & Deception
– Detection & Prevention Strategies
Fraud risk is something that businesses small or big cannot ignore and whether you are there for profit or non-profit, fraud is something that you cannot ignore. Even governments face fraud risk and the only way to combat fraud is to fight it in its very own backyard. Fraud risk CANNOT be eliminated and can only Accepted, Avoided, Reduced or Transfer.
The irony of this is quite simple: 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.
Learning Objectives
- Learn about the Fraud Tree – Occupational Fraud and Abuse – Corruption, Asset Misappropriation and Fraudulent Statements
- Identify and understand the Red flags
- Development of Detective and Preventive controls that can be applied to Reduce or Transfer the risk of Fraud
- Fraud Policy
- Whistle-blower Policy
- Employee Protection Policy
- Template for testing the effectiveness of Detective and Preventive Controls. The template includes commentary of the testing methodology and documentation procedures
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 space of Fraud and DeceptionModule 1-
- Deliberation of framework and strategies in the space of Fraud and DeceptionModule 2-
- Learning on how to develop fraud scenario and its corresponding mitigating controls – both Detective and PreventiveModule 3-
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