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Fraud Preventing, Investigation, and Revelation

The Hidden Enemy

Fraud Preventing, Investigation, and Revelation

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AG7
25.Nov.2024 to 29.Nov.2024
London - Premier inn Victoria
Cost 4445 £ GBP

Introduction

  • Did you know that it is expected that fraud costs the world economy more further than 3 trillion dollars in 2018?
  • Would you know if fraud was happening in your organization now?
  • Do you know what the main fraud risks are in your business?
  • Does your organization have a fraud arrest strategy?
  • Do you have a formal program to tackle the risk postured by fraud?
  • Do you use any automated fraud discovery techniques?
  • If fraud is suspected do you have a sharply defined approach for managing the examination?
  • If you have answered “no” to any of the above questions you are not single.

    Recent surveys have revealed that many companies do not have a formalized way of fraud Fraud Preventing, Investigation, or Revelation.

This training course on Fraud Preventing, Investigation, and Revelation will assist you to:

  • Assess the likely frequency of value of fraud in your organization
  • Acquire a world-class fraud prevention program
  • Assess fraud scenarios using real fraud cases
  • Target key areas of fraud with proven exposure techniques
  • Significantly decrease the opportunities for corruption

Course Objectives of Fraud Preventing, Investigation, and Revelation

After completing this training course, you will be ready to:

  • Evaluate and challenge management’s fraud risks
  • Know how a fraudster thinks
  • Join successful techniques to treat and prevent fraud
  • Develop an effective fraud prevention manner
  • Adopt data mining as a fraud prevention and detection tool
  • Join an effective fraud investigation manner
  • Apply audit experiences to fraud investigation
  • The locality is when someone is not telling you the truth

Course Methodology of Fraud Preventing, Investigation, and Revelation 

  • This is a basic/moderate-level course and delegates are not expected to have any previous knowledge in fraud prevention or detection to attend
  • There are no minimum instructional requirements
  • No training is required
  • Transfer method – Group-live (with exercises and role-plays to simulate audit scenarios and situations that assurance professionals will encounter)

Organizational Impact of Fraud Preventing, Investigation, and Revelation 

This Fraud Prevention, Detection, and Investigation training course will help organizations in all business sectors and will give both public and private-owned businesses much greater recognition of the ever-increasing risk posed by fraud, and how to deal with these threats.

This training course will enable organizational knowledge to be enhanced in the following fields:

  • The breadth and impact of fraud risks, mainly on business reputation
  • The variety of fraud indicators
  • Managing a cost-effective balance between prevention and detection
  • The legal implications
  • The necessary vigilance
  • Growing an anti-fraud policy

Personal Impact of Fraud Preventing, Investigation, and Revelation 

This training course will allow delegates to enhance their knowledge in the following methods:

  • Assessing the fraud risks
  • Employing interrogation techniques to detect fraud
  • Promoting an effective fraud mitigation program
  • Finishing a successful fraud investigation
  • Delivering fraud knowledge assemblies to management

Who Should Attend

This training course is fit for a wide range of professionals but will greatly profit:

  • Newly Selected Fraud Specialists
  • Managers need a more comprehensive understanding of how to review all types of fraud
  • Spectators who need to learn about the most modern methods of fraud prevention and investigation
  • Members of fraud organizations who need to learn more about targeting internal fraud
  • Managers need a more comprehensive knowledge of how to prevent and detect fraud

 

Course Outline

DAY 1

Developing a Fraud Prevention Process

  • Fraud Mitigation

    • How to evaluate fraud risk mitigation?

    • Why controls may not protect you?

    • Putting Yourself in the Mind of the Fraudster
    • Examination of Typical Controls in Place to Mitigate the Risks
    • Risk Exposures
    • Identifying the Vulnerable Areas
  • Procurement Fraud

    • Tendering and Bidding

    • Common Indicators

    • Supplier and Outsourcing Fraud
    • Procurement and Inventory Fraud Risks
    • A Procurement Fraud Checklist will be Provided
  • Fraud Indicators

    • The Top 30 Fraud Indicators

    • How to spot the danger signals?

    • Fraud Indicators – Fraud Advisory Panel Paper
    • Developing a Toolkit for Identifying Possible Fraud
    • An Auditor’s Fraud Toolkit will be Provided
  • Implementing a Best Practice Fraud Prevention Process

    • CIMA Fraud Risk Management Guidance

    • Introducing Effective Anti-fraud Policies

    • Creating a Fraud Consciousness Loop
    • Development of a Fraud Awareness Training Program
    • Communicating Standards of Expected Behavior /Ethics
    • The Need for Strong and Consistent Action When Fraud is Suspected
    • Electronic Data and Asset Protection
    • Fraud Response Plans Paper
    • Anti-Money Laundering – issues and requirements
    • Money Laundering Paper in the Pack
    • The Relationship between Fraud, Risk, and Control
    • The Roles, Responsibilities, and Liabilities of Auditors, Management, Specialists, and Others

DAY 2

Fraud Risks

  • Background

    • Fraud Explained: Definitions
    • Fraud Statistics
    • Why is fraud such a serious issue?
    • ACFE Fraud Survey Results
    • The Cost of Fraud
    • Who commits fraud?
    • Profile of a Fraudster
    • Trends and Statistics regarding Detected Fraud
    • Why fraud is probably being perpetrated now in your organization?
  • Evaluating the Fraud Risks

    • E & Y 13th Global Fraud Risk Survey Results

    • Fraud Risk Management Process

    • Managing the Business Risk of Fraud (IIA, CPA, CFE Paper )
    • 6 Principles (from the paper )
    • The fraud Risk Management Program should be in Place
    • Fraud Risk Exposure should be Assessed
    • Prevention Techniques to Avoid Potential Fraud Risk Events
    • Detection Techniques should be Established
    • A Reporting Process should be in Place
    • A Coordinated Approach to Investigation and Corrective Action
    • Building a Picture of the Major Fraud Risks
    • Supplier and Outsourcing Fraud
    • Fraud Risk Matrix
    • Fraud Scenarios
    • Fraud Risk Register Example
    • Fraud Risk Questionnaire
    • Generic Risk Factors
    • Specific Risk
    • Design of Controls to Prevent Fraud
    • Physical and Logical Access
    • Job Descriptions
    • Accounting Reconciliations
    • Supervision  
  • The IT Fraud Risks

    • Computer Fraud Paper

    • Computer Fraud Prevention

    • E-Commerce – The key fraud risks and steps to take to mitigate them
    • Internet and Intranet – The fraud risks
    • Preventing Internet Fraud Paper
    • IT Security – How to evaluate effectiveness and influence change?
    • Adoption and Enforcement of Information Security Standards
    • Segregation of Duties - The Dangers and the Practical Solutions
    • How to detect IT fraud?
  • Identity Fraud

    • Identity Fraud – The Fastest Growing Fraud Risk

    • Identity Fraud – Fraud Advisory Panel Paper

    • Identity Fraud Examples
    • How to protect your business?
  • The Risk of Corruption

    • Crime Causes

    • Corruption Indicators

    • Fraud Red Flags
    • The Issues to Look For
    • Bid Rigging – The issues to look for

DAY 3

The Link between Fraud Prevention and Detection

  • Aiming for a Cost-effective Balance between Prevention and Detection

    • Use of Management Check-lists

    • The Need to be Able to Think like a Fraudster – To be able to prevent it

    • Company Policy on Consequences of Committing Fraud
    • Facilitation of Whistle Blowing
    • Whistle Blowing Policy
    • Pros and Cons of External Hot-lines
    • Use of Specialists to Aid Detection and Investigation
    • Preparing and Implementing Fraud Contingency Plans
    • How to ensure fraud investigation is always given top priority?
    • Use of Successful Fraud Investigation as a Moral Deterrent
    • Managing the External Coverage of Proven Fraud
  • The Assurance Role regarding Fraud

    • ECIIA Paper

    • Prevention and Investigation

    • Should Detection be an IA role?
    • The IIA States currently Detection is not an IA role
    • What should IA do to aid detection?
  • Use of Computer Assisted Audit Techniques (CAATs)

    • ACL as a Fraud Investigation Tool

    • ACL Fraud ebook

    • Examples of How to use CAATs in Fraud Investigation will be Shared
    • Benford’s Law
    • Benford’s and CAAT’s Paper

DAY 4

Fraud Investigation

  • Managing the Investigation

    • The Need for thorough Planning

    • Determining the Objectives of the Investigation

    • Who should be involved? – What skills do you need?
    • How do keep the investigation low-profile?
    • Conducting Fraud Investigations Guidance
    • Research – What information can lawfully be obtained?
    • What information is available and can be used?
    • Forensic Evidence and How to obtain it
    • Collating Information and Maintaining the Chain of Evidence
    • Knowing When to Suspend or Dismiss Employees
    • Fraud Investigation Report Template will be Provided
  • Interviewing Suspects and Witnesses

    • Setting the Scene – choice of venue, etc.

    • Do you know your legal authority for conducting interviews?

    • Can you use deception in interviews?
    • How do you avoid breaching the employees’ rights under the law?
    • 47 Tips for Fraud Interviews
    • Planning the Interview – do’s and don’ts
    • Fraud Interview – The 10 Steps
    • How do keep in control?
    • How to tell if someone is lying?
  • Communicating the Results

    • When and how to inform top management?

    • When to inform regulators / the police / etc.?

    • Managing External Coverage
    • Dealing with the Media / Stakeholders
    • The Use of Successful Fraud Investigation as a Moral Deterrent
    • Rebuilding Damaged Relationship

DAY 5

Fraud Detection and Legal Issues

  • Data Mining as a Fraud Detection Tool

    • Fraud Detection Basics Paper

    • Fraud Profiling – How to target the right systems?

    •  Fraud Prevention and Detection in the Automated World
    • Data Mining Paper
    • Risk Scoring
    • Fraud Risk Prioritization
    • How to get the information you need?
    • The Use of Internal Databases
    • Demonstration of External Databases
    • Data Validation
    • Automated Fraud Detection
    • How to put the techniques into use in your organization?
    • Audit Software – The tools available
    • Practical Uses of Data Mining and the Results Achievable
  • The Legal Aspects                                                      

    • The Need to Stay within the Law

    • Legal Implications

    • When to bring the lawyers in?
    • How to protect your work from disclosure? – legal privilege
    • How to ensure that evidence is admissible?
    • Search and Seizure Orders
    • Civil vs. Criminal Action
    • Bribery Act and the Implications for GCC Businesses
    • Gifts and Hospitality Guidance
    • How to recover stolen assets? – Making sure the criminal does not profit
    • How to handle disciplinary proceedings?
    • Employer's and Employee's Rights
  • What to do when you suspect fraud?                                                                                                                       

    • How to react when fraud is suspected?

    • How to decide who needs to be told?

Associations

AG7
25.Nov.2024 to 29.Nov.2024
London - Premier inn Victoria
Cost 4445 £ GBP