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Fraud Awareness for CAEs and Management

Course Description

Print-friendly Course Description and Outline

​This course is a joint effort between The IIA and Deloitte & Touche. It is designed for executive levels and audit management and provides a comprehensive overview of the changing perspectives on fraud, new issues and trends in fraud, technology's role in detecting fraud, and managing risk while maximizing the benefits of internal fraud investigations.

Course Duration: 1 day(s)
CPE Hours Available: 8
Knowledge Level: Advanced
Field of Study: Auditing


Advance Preparation: 


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

​Why Organizations Should Manage Fraud Risk

  • Understand the impact of fraud on your organization
  • Identify reasons why your organization needs to manage fraud risk

New Issues and Trends in Fraud

  • Impact of new regulatory guidance on fraud risk management
  • Identify potential fraud control enhancements
  • Understand the implications of new guidance from The IIA and other organizations
  • Identify implications of recent fraud “hot topics” to your organization

Understanding Fraud Essentials

  • Recognize different fraud types
  • Identify motives of perpetrators
  • Recognize conditions that enable fraud to occur in your organization
  • Profile of the fraudster
  • Potential for management override of controls

Understanding the Types of Fraud

  • Fraudulent financial reporting
  • Misappropriation of assets
  • Bribery and corruption
  • Identifying fraud schemes
  • Recognizing the red flags

A COSO-consistent Approach to Fraud Risk Management

  • Understand how the elements of a fraud risk management program fit within the COSO framework
  • Identify key elements of the control environment related to managing fraud risks
  • Identify key elements of an effective fraud risk assessment process
  • Differentiate between preventative and detective controls
  • Identify the key elements of Information and communication that relate to managing fraud risk
  • Identify the key elements of monitoring processes that relate to management fraud risks

Fraud Risk Governance

  • Review a fraud risk management strategy and policy
  • Identify the roles and responsibilities of the various contributors in the fraud risk management process:

o Management
o Internal auditors
o Independent auditors
o Board of directors/audit committee

Fraud Detection and Prevention

  • Identify topics that should be covered in your organizations’ fraud awareness training
  • Analyze whistleblower reporting processes
  • Understand proactive auditing for fraud:

o Journal entry testing
o Revenue Recognition testing
o Other risk-based detection techniques

  • Identify technology’s role in detecting fraud

Effectively Conducting Fraud Investigations

  • Identify an effective process for receiving a fraud allegation
  • Identify investigative protocols to prepare for future fraud investigations
  • Learn the process for conducting an effective investigation
  • Distinguish between a systemic process and a reactive approach to remediate fraud controls

Evaluating Your Organization’s Fraud Risk Management Capability

  • Understand the appropriate questions and considerations regarding the tone at the top and the ethical environment in your organization
  • Identify considerations for implementing a fraud prevention policy or strategy
  • Evaluating management’s fraud risk assessment including fraud risk tolerance and fraud risk management objectives
  • Evaluating fraud risk management people, processes, and technology including hotline performance
  • Evaluating fraud risk management performance in managing fraud risk

​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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