Internal Auditors Role in Preventing Fraud: Best Practices

Internal Auditor’s Role in Preventing Fraud: Best Practices” course is designed to equip internal auditors with the knowledge and skills necessary to effectively identify, prevent, and detect fraud within an organization. Through a combination of theoretical concepts, case studies, and practical exercises, participants will learn best practices for fraud prevention and mitigation, enhancing their ability to safeguard organizational assets and integrity.
Course Objectives:
• Understand the role of internal auditors in fraud prevention and detection.
• Identify common types and indicators of fraud in various business processes.
• Learn best practices for conducting fraud risk assessments and implementing preventive controls.
• Develop skills in investigating suspected fraud incidents and gathering evidence.
• Enhance communication and reporting techniques for presenting findings to management and stakeholders.
• Gain insights into ethical considerations and professional standards for internal auditors related to fraud prevention.
Course Outline:
Introduction to Fraud and Internal Audit
• Understanding the impact of fraud on organizations
• Role and responsibilities of internal auditors in fraud prevention and detection
• Overview of professional standards and guidelines related to fraud examination
Types and Indicators of Fraud
• Common types of fraud, including asset misappropriation, corruption, and financial statement fraud
• Red flags and warning signs of fraudulent activities
• Case studies and real-life examples of fraud incidents
Fraud Risk Assessment and Control
• Conducting fraud risk assessments and identifying vulnerabilities
• Implementing preventive and detective controls to mitigate fraud risks
• Monitoring and evaluating the effectiveness of fraud prevention measures
Investigation Techniques and Evidence Gathering
• Planning and conducting fraud investigations
• Interviewing techniques for gathering information and evidence
• Documenting findings and maintaining the chain of custody
Communication and Reporting
• Communicating fraud-related findings to management and stakeholders
• Presenting findings in clear, concise, and persuasive manner
• Ethical considerations and confidentiality requirements in fraud reporting
Ethical Considerations and Professional Standards
• Ethical principles and values for internal auditors
• Compliance with professional standards and codes of conduct
• Handling conflicts of interest and maintaining independence and objectivity

FOR WHOM:
All Internal Auditors and Risk Managers in the Public and Private Sectors.

METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 25th – 28th Feb,2025
2ND BATCH: 12th – 15th Aug,2025