Internal Control and Fraud Prevention Course

OBJECTIVE:
How does your organization manage fraud risk? Fraud prevention and detection is everyone’s business. This four-day workshop will provide greater insights on understanding fraud schemes, the design of internal controls as well as the key challenges in fraud management. Upon completion of this workshop, participants will be able to:
· Understand the importance and the role of internal controls in fraud prevention and detection.
· Appreciate and propose activities to manage various types of corruption
· Understand key challenges in fraud management and resources to counteract these challenges

CONTENT:
Understand Fraud
· Definition of fraud
· How fraud occurs
· The fraud triangle
· The true cost of fraud
· Impact of fraud to an organization

Importance of Internal Control
· Overview of internal controls
· How internal controls cups threats
· Why threats are increasing
· Internal control over financial reporting

Fraud Prevention and Detection
· Assessment of fraud risks
· Control environment
· Fraud risk management
· Internal control frame work

Internal control to prevent fraud
· How to design controls to detect fraud

Fraud Schemes
· Corruption scheme
· Misappropriation of assets
· Financial statement fraud
· Theft of cash
· Inventory and other asset fraud

Red flags of Fraud
· Opportunity red flag
· Personnel characteristic red flag
· Situational pressure red flags
· Red flags of retention to management fraud
· Common indications of possible fraudulent Activities

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: 21st – 24th Jan,2025
2ND BATCH: 24th – 27th June,2025