Fraud Risk Management

Registration & Fees

Registration Fee:
ACFE Members: $625
Non-Members: $725
Early Registration Deadline: August 14, 2023
Register by the Early Registration Deadline to SAVE USD 125!

Course Outline

Day 1

• 10:00 – 11:20 a.m. Introduction

  Building an effective fraud risk management program requires solid understanding of how and why fraud is perpetrated. Discuss the ways fraud occurs and the impact it has on organizations. Also, learn about the factors that influence an organization’s fraud risks and different parties’ roles and responsibilities for managing these risks.

• 11:30 a.m. – 12:50 p.m. Fraud Risk Management — Overview

  The risk of fraud is just one of the many types of risks to be managed by an organization, but letting this risk fall out of focus can bring catastrophic results. This session will explore the elements of an effective fraud risk management program, as well as why businesses should invest the necessary resources to manage fraud risk.

• 1:20 – 2:40 p.m. Developing a Fraud Risk Management Program

  Without clear, defined objectives, a fraud risk management program cannot be effective. Learn how to set program objectives and define risk appetite as the first step in building the program. Then, discuss the seven other steps involved in developing a fraud risk management program, as well as the program components necessary to fully manage the risk of fraud.

• 2:50 – 4:10 p.m. The Role of Culture and Internal Controls

  Creating an anti-fraud culture throughout the organization provides an important foundation for the fraud risk management program. This session will explore the elements of a strong anti-fraud culture, as well as potential obstacles organizations face in fostering this environment. Also, learn about the role of internal controls as part of the fraud risk management program and how to design and implement effective anti-fraud controls.

Day 2

• 10:00 – 11:20 a.m. Fraud Risk Assessment, Part 1

  Without an adequate understanding of the organization’s true fraud risks, any efforts at managing fraud risks might miss the mark. Learn what makes a good fraud risk assessment and how to plan and prepare the organization for the assessment. You will also discuss numerous considerations that must be incorporated into the assessment process to ensure the fraud risk assessment’s success.

• 11:30 a.m. – 12:50 p.m. Fraud Risk Assessment, Part 2

  Continuing the discussion from the previous session, this session will explore a framework for effectively assessing fraud risk across the entire organization. Walk through the entire process, from identifying the sources and types of risks, assessing the danger they pose to the organization, compiling a complete fraud risk portfolio and determining appropriate action plans to address these risks.

• 1:00 – 2:20 p.m. Putting the Fraud Risk Assessment into Action

  Using a real-life fraud case, practice applying the fraud risk assessment approaches and methodology explored in the previous discussions. Explore how the company’s culture, anti-fraud controls, leadership behaviors, and complaint and response protocols all affected its ability to manage its fraud risks.

Day 3

• 10:00 – 11:20 a.m. Shaping an Anti-Fraud Culture

  Many organizations avoid open conversations about fraud, but successfully shaping an anti-fraud culture requires bringing fraud into the spotlight. Learn how to proactively foster an entity-wide anti-fraud culture through policies, hiring practices, employee support and accountability, fraud awareness efforts and other culture-building initiatives.

• 11:30 a.m. – 12:50 p.m. Proactively Looking for Fraud Risk Indicators

  Evidence of fraud often hides in plain sight. Identify the various ways that the red flags of fraud can appear in an organization. Learn how to analyze both financial and behavioral clues for warning signs that fraud might be occurring and how to incorporate monitoring for these signs into the fraud risk management program.

• 1:00 – 2:20 p.m. Monitoring, Reporting and Improving on the Fraud Risk Management Program

  An effective fraud risk management program includes processes and procedures for monitoring the program’s effectiveness and improving the program where needed. Learn how to measure and report the program’s success, as well as how to make the case for additional support and funding. You will also explore a maturity model for assessing and evolving your fraud risk management program.

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