Format: On-demand
For organizations that seek to maintain successful pathways towards consistent revenue, sustainability, reputational stability, and risk mitigation efforts, fraud prevention must be a top priority for management.
In its 2024 Report to the Nations, the Association of Certified Fraud Examiners (ACFE) estimated close to $3.1 billion in losses attributed to fraud cases globally, emphasizing the need to implement proactive anti-fraud controls and assessments are essential, as 51% of fraud cases stemmed from a lack of, or overridden, internal controls.
The comprehensive role of internal audit, together with the incorporation of The IIA's Global Internal Audit Standards, encourages the inception of integrative approaches to detect and prevent illegal acts, while practitioners hold instrumental insight to establish the proper guardrails to foster an elevated level of scrutiny.
Who will benefit from this course?
This course provides the essential concepts for participants to identify illegal acts and/or fraud, manage fraud risks, and implement anti-fraud controls. This course will benefit any internal auditor or compliance officer desiring to increase their knowledge regarding fraud and/or illegal acts.
Learning Objective(s):
- Explore the role of internal audit in identifying illegal acts, fraud, managing fraud risks, and implementing controls.
- Differentiate the characteristics, significance, and sources of common fraud risks, including behavioral aspects of fraudsters.
- Describe the key principles for managing fraud risk.
- Identify the evolving responsibilities of the internal audit function, including the involvement of forensic accountants and fraud examination specialists.
- Identify fraud prevention, deterrence, and detection techniques.