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, according to the report, fraud occurrence is relatively similar across geographical regions and industry sectors, such as Government, corporate and not-for-profit.
In harsh economic conditions, however, 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.
This session is designed to provide a solid understanding of fraud, its drivers and perpetrators in organisation to internal auditors. The session a strong practical impact and, as a result, participants will spend 40% of the time doing practical exercises or taking part in scenario work.
Learning Outcomes
Upon completion of this program, participants will:
- Understand the different types of fraud and the most likely offenders for each one
- Appreciate what factors contribute to fraud and how they interact with each other
- Design adequate controls to minimise fraud risk in different areas of the organisation
- Communicate fraud-related findings and information in a business-friendly manner with managers and executives
- Use analytics to improve fraud detection in their organisation
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
