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Developing a Fraud Risk Management Program for Your Organization

Course Description

Print-friendly Course Description and Outline

​After completing this course, which is appropriate for internal auditing professionals seeking proficiency in fraud detection and prevention, participants should be able to articulate to management and those charged with governance the business case for managing fraud risk, develop a fraud risk management program for an organization, and evaluate the design and implementation of an existing fraud risk management program. This course is a joint effort between The IIA and Deloitte & Touche.

Course Duration: 2 day(s)
CPE Hours Available: 16
Knowledge Level: Advanced
Field of Study: Auditing


Advance Preparation: 


Delivery Format: On-site Training (Group-Live)

​Making the Case for a Fraud Risk Management Program

  • Define fraud
  • List reasons why organizations should manage fraud risk
  • Present a case for a managing fraud risk

A COSO-consistent Process for Fraud Risk Management

  • Define the COSO internal control framework
  • List advantages of using a COSO-consistent process
  • Describe how the elements of a fraud risk management program fit within the COSO framework

Roles of Key Parties in Managing Fraud Risk

  • Define the key parties involved in managing fraud risk
  • Describe the responsibilities of each party
  • Identify the oversight and reporting responsibilities between the key parties and their impact on the effectiveness of fraud risk management

Coordinate Governance, Risk Management, and Compliance/Ethics to Better Prevent Fraud

  • Define the roles of governance, risk management and compliance/ethics
  • Describe the relationships and overlaps between the three roles
  • Identify how coordinating the three roles can reduce costs, enhance efficiency and improve organizational effectiveness in managing fraud risk

Control Environment

  • Define the key elements of the control environment that relate to managing fraud risk
  • Describe tools and techniques for developing or evaluating the design and operating effectiveness of these key elements
  • Apply the tools and techniques to identify potential deficiencies and recommend control enhancements

Fraud Risk Assessment

  • Define the key elements of an effective fraud risk assessment process
  • Identify common deficiencies in fraud risk assessments
  • Apply the process to develop a fraud risk assessment for a hypothetical organization

Fraud Control Activities

  • Define the goal of fraud control
  • Describe the roles of entity-level and process-level controls
  • Identify how proactive fraud detection activities complement entity-level and process-level controls and assist management and those charged with governance

Information and Communication

  • Define the role of communication in creating effective fraud risk management
  • Describe the key challenges in providing fraud awareness training
  • Identify approaches for delivering fraud awareness training cost-effectively


  • Define the key parties involved in monitoring
  • Describe the role(s) of monitoring by each key party
  • Identify how monitoring might be ineffective or compromised and how such occurrences could be detected

​Most courses can be delivered through on-site training. You might be surprised that the organization leading the profession is just as committed to the delivery of affordable training.

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