FR-104 IMPLEMENTING A FRAUD AWARENESS TRAINING PROGRAM

FR-104 IMPLEMENTING A FRAUD AWARENESS TRAINING PROGRAM

DESCRIPTION

All organizations are subject to fraud risk. Association of Certified Fraud Examiners (ACFE) studies show that an average of 5% of revenue is lost to internal fraud schemes within an organization. History has taught us that identifying and evaluating fraud requires more than common sense; it requires training and skills development. Creating fraud awareness and teaching employees to recognize potential fraud risks can reduce the potential financial, reputational, and organizational risks associated with fraud. The ability of an organization to prevent and detect fraud begins with fraud awareness—how it occurs, the characteristics of a fraudster, and what to do when fraud is suspected.

 

This class will help individuals learn and develop the skills necessary to help drive, implement, and execute an effective Fraud Awareness Training Program in their organization as part of an overall Fraud Prevention Program through the use of case studies, best practices, and group exercises.

LEARNING OBJECTIVES:

  • Understanding the Fraud Triangle
  • Understanding fraud fundamentals
  • Characteristics of fraudsters
  • Knowledge of prevention and detection programs for fraud
  • Understanding the importance of ethics, compliance and Tone at the Top
  • How to identify the red flags of fraud
  • How to implement a fraud awareness program

 

COURSE OUTLINE

Why Fraud Awareness Is Necessary for Every Organization

  • ACFE 2018 Report to the Nations
  • Case studies and examples

Principles for Managing Fraud Risk in an Organization

  • Governance
  • Fraud Risk Assessment
  • Prevention
  • Detection
  • Reporting

Fraud Basics

  • Defining fraud for your organization
  • Bad business practices vs. waste and abuse vs. fraud
  • The Fraud Triangle
  • Fraud statistics
  • Fraudsters—characteristics and behaviors
  • Recognizing red flags for fraud

Fraud Awareness Core Requirements

  • Hotlines
  • Ethics training
  • Code of conduct
  • Tone at the Top

Implementing Fraud Awareness Training in Your Organization

  • Defining the training needs
  • Developing the learning objectives
  • Selecting the target audience
  • Selecting the training methods
  • Developing the training content
  • Administering the training
  • Evaluating and Improving the training
Duration

CPE

Delivery

Field

Level

Who Should Attend

 

Prerequisites

 

Advanced Preparation

1 Day

8

Group-Live

Specialized Knowledge

Intermediate

Internal auditor staff and management; financial and operational management and staff

A working knowledge of accounting, fraud basics, and financial statements

None