Upon completion of this course, participants will be able to:

• Understand the various types of occupational fraud (asset misappropriation, corruption, financial statement fraud).
• Apply the **Fraud Triangle** (Pressure, Opportunity, Rationalization) to identify fraud risks.
• Conduct a systematic, top-down fraud risk assessment across all major business processes.
• Design and implement effective preventative and detective internal controls (e.g., segregation of duties, independent review).
• Develop and lead an effective anti-fraud communication and employee training program.
• Establish an independent and confidential mechanism for reporting fraud (whistleblower program).
• Define and utilize fraud **Key Risk Indicators (KRIs)** for continuous monitoring.
• Outline the necessary steps for a preliminary fraud investigation and evidence preservation.

• Internal and External Auditors and Forensic Accountants
• Risk and Compliance Professionals
• Finance, Treasury, and Accounting Managers
• Internal Control Specialists and Business Process Owners
• Security and Investigations Personnel

• Group Fraud Scenario Brainstorming and Risk Assessment Workshop
• Case Studies on Different Types of Occupational Fraud and Schemes
• Individual Exercise: Designing Preventative and Detective Controls for a Procurement Process
• Role-Playing Fraud Hotline Intake and Preliminary Investigation Scenarios
• Discussions on Creating a Culture of Honesty and Ethical Behavior

Unit 1: The Fundamentals of Fraud Risk

• Defining fraud, waste, and abuse in an organizational context.
• Understanding the three legs of the **Fraud Triangle** and its relevance to internal controls.
• Categorizing occupational fraud: asset misappropriation, corruption, and financial statement fraud.
• Review of the ACFE's Report to the Nations on occupational fraud.
• The importance of management override of controls in facilitating fraud.

Unit 2: Fraud Risk Assessment Methodology

• Establishing a top-down, risk-based approach to the fraud risk assessment.
• Techniques for brainstorming and identifying potential fraud schemes and scenarios.
• Mapping specific fraud risks to business processes (e.g., purchasing, payroll, revenue recognition).
• Assessing the inherent likelihood and potential impact of each identified fraud risk.
• Documenting fraud risks in a comprehensive **Fraud Risk Register**.

Unit 3: Prevention and Control Design

• Designing and implementing strong **Preventative Controls** (e.g., Segregation of Duties, physical controls).
• Designing and implementing effective **Detective Controls** (e.g., reconciliations, independent review, data analytics).
• Developing a robust anti-fraud policy, Code of Conduct, and conflict of interest policies.
• Implementing a secure and confidential **Whistleblower/Ethics Hotline** mechanism.
• The role of the internal audit function in the anti-fraud program.

Unit 4: Continuous Monitoring and Detection

• Defining and utilizing fraud **Key Risk Indicators (KRIs)** for continuous monitoring.
• Using **Data Analytics** and abnormal pattern detection for high-risk transactions.
• Managing access controls and system authorizations to prevent unauthorized access.
• Conducting proactive anti-fraud audits (surprise audits, process walk-throughs).
• Managing cyber-enabled fraud risks (e.g., Business Email Compromise - BEC).

Unit 5: Investigation and Response

• Establishing a formal **Fraud Response Plan** and investigation protocol.
• Protocols for evidence preservation, documentation, and chain of custody.
• Managing internal communication and employee interviews during an investigation.
• Coordination with legal counsel, law enforcement, and insurance providers.
• Post-investigation remediation and utilizing lessons learned to strengthen controls.