Program Overview
In the current harsh economic climate, one of the increased risks organisations face is that of employee fraud. According to the latest “Report to the Nations” done in 2020 by the Association of Certified Fraud Examiners (ACFE), the median loss from fraud was $125,000 per case and the median duration was 14 months.
And, in harsh economic conditions, fraud incidents will increase simply because the motivation is much stronger. Simply put, if a family’s income has decreased, while the expenses are still the same, an employee will be more tempted to commit fraud than in “normal” times.
In this situation Government, corporate and the not-for-profit sectors need to act swiftly and be prepared, to detect early and minimise fraud occurrences across the organisation. And, one of the best ways to minimise fraud duration and impact is through proactive data monitoring, which reduces both duration and losses by 33% percent.
Learning Outcomes
Upon completion of this program, participants will:
- Understand the main drivers and enablers of fraud
- Identify opportunities for fraud detection using analytics
- Communicate fraud detection results to business managers and suggest process improvements
- Perform fundamental fraud detection analytics
- Apply specific tools for fraud analytics
Intended Audience
- Internal auditors and assurance professionals
- Risk and governance professionals
- Internal audit managers and supervisors
- Internal audit directors
- Risk managers
- Chief Risk Officers
- Chief Audit Executives
- External Auditors
- CFOs
