Enhance Skills for Fraud Risk Management in the Public Sector

Course Overview:

In the ever-changing business environment, encountering risk is inevitable. The ability to manage these increasingly significant risks now represents the difference between a thriving organization and one that is struggling to deal with the challenges facing it. Dealing with these challenges requires extensive knowledge of risk management, effective internal control, and proactive fraud prevention techniques. This is exactly what you will find in this course.

This training course will enable you to develop and deliver a systematic plan to strengthen your risk management, fraud prevention, and internal control environment.

Course Objectives:

At the end of this course, the participants will be able to:

• Ensure your organization has an effective balance between risk and internal control
• Explain to management the benefits of an enterprise-wide approach to risk and internal control
• Apply the different techniques for identifying and managing risks
• Ensure that preventative, detective, and corrective controls are in place
• Link risk management and internal control into the business planning process
• Implement an effective fraud prevention process
• Promote a culture of integrity and ethics across the organization

Course Coverage

Topic 1: The Power of Effective Risk Management:

• The Importance of Managing Risks Efficiently and Effectively
• The Need to Embed the Risk Management Process
• The Key Link between Risk and Objectives
• Risk Measurement Techniques
• Selling the Benefits
• Ensuring an Effective Balance between Risk and Control
• ISO 31000 Risk Standard
• Risk Appetite – The least well-understood aspect of risk?

Topic 2: Effectively Managing the Risk Process:

• Risk Mitigation Processes
• The Risk Register – and How to simplify them and optimize their value
• Identification of Risk Exposures – The 4 T’s
• Developing Action Plans and Improvement Opportunities
• Dealing with Over-managed Risks
• Linking the Output into the Business Planning Process
• Reputation Risk Management
• Engaging Stakeholders in the Process

Topic 3: The Internal Control Environment:

• The Need to See Internal Control as a Positive Process
• The Pressure on Internal Controls due to Leaner Business Structures
• The COSO Internal Control-Integrated Framework
• The 3 Types of Control – Preventative, Detective, and Corrective
• How to Get Senior Management to Take Internal Control Seriously
• Compliance with Procedures and Policies
• The Constantly Changing Regulatory Requirements

Topic 4: The Key Pressures on the Internal Control Processes:

• The Changing World Economy and the Impact on Controls
• The Ongoing Evaluation of the Control Environment
• Information Security
• Controls Over Technology
• Systems Development and the Risk to Internal Controls
• Internal and External Communications – and the Control Impact
• The Need for Internal Control Procedures to Be Kept up-to-date

Topic 5: Proactive Fraud Prevention:

• Why internal controls may not protect you against fraud?
• How to Implement a Best Practice Fraud Prevention Process
• Evaluating the Fraud Risks
• Developing a Fraud Consciousness Loop
• The Anti-fraud Policy
• Recognizing the Patterns of Fraudulent Behaviour
• Promoting Integrity and Ethics Across the Organisation

Targeted Groups:

• Risk Managers
• Business Managers' inline functions
• Audit Managers and other auditors
• Quality Assurance Professionals
• Managers need a broader understanding of risk and internal control