Risk Management - Focus On Fraud

Start Date End Date Venue Fees (US $)
14 Dec 2025 Istanbul, Turkey $ 4,500 Register

Risk Management - Focus On Fraud

Introduction

Risk Management has been developed to assist public sector agencies in understanding essential risk management issues pertaining to infrastructure procurement, and in particular public-private partnerships. Risks can apply to all levels of an organization or project. Corporate risk is typically reflective of the aggregate of all potential negative events or opportunities across an entire organization. Periodically, the latest major fraud hits the headlines as other organizations sit back and watch, telling themselves that ‘it couldn’t happen here.’ But the reality is that fraud can happen anywhere. While only relatively few major frauds are picked up by the media, huge sums are lost by all kinds of businesses as a result of the high number of smaller frauds that are committed. Despite the serious risk that fraud presents to businesses, many organizations still do not have formal systems and procedures in place to prevent, detect, and respond to fraud. While no system is completely foolproof, there are steps that can be taken to deter fraud and make it much less attractive to commit. A major reason why people commit fraud is that they are allowed to do so. There is a wide range of threats facing businesses. The threat of fraud can come from inside or outside the organization, but the likelihood that fraud will be committed is greatly decreased if the potential fraudster believes that the rewards will be modest, that they will be detected, or that the potential punishment will be unacceptably high. It is in assisting organizations in taking such steps that this course should prove valuable.

Objectives

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

    • What is risk management? The risk management cycle, Identify risk areas, Analyzing fraud risks, What is fraud?
    • Different types of fraud, The fraud triangle, Reporting mechanisms and whistleblowing, Responsibility for the prevention and detection of fraud, Methods of fraud detection, Organization’s objectives with respect to dealing with fraud, Investigation – How to investigate.

Training Methodology

This is an interactive course. There will be open question and answer sessions, regular group exercises and activities, videos, case studies, and presentations on best practices. Participants will have the opportunity to share with the facilitator and other participants on what works well and not so well for them, as well as work on issues from their own organizations. The online course is conducted online using MS-Teams/ClickMeeting.

Who Should Attend?

  • Individuals in a managerial position who need a working knowledge of risk management and risk management principles.
  • Risk practitioners who need to re-affirm their risk management knowledgebase.

Course Outline

Risk management – an overview

  • What is risk management?
  • The risk management cycle
  • Risk assessment
  • Risk identification
  • Risk evaluation
  • Risk analysis
  • Organizational response to risk
  • Management of risk
  • Establish a risk management group and set goals
  • Identify risk areas
  • Implement and monitor suggested controls
  • Review and refine and do it again
  • Information for decision making

Fraud – its extent, patterns, and causes

  • What is fraud
  • The scale of the problem
  • Which businesses are affected
  • Why do people commit fraud?
  • Who commits fraud?

Fraud Prevention

  • A strategy to combat fraud
  • Developing a sound ethical culture
  • Sound internal control systems

Fraud Detection

  • Detection methods
  • Indicators and warnings
  • Tools and techniques

Responding to Fraud

  • Purpose of the fraud response plan
  • Corporate policy
  • Definition of fraud
  • Roles and responsibilities
  • The response
  • The investigation
  • Organization’s objectives with respect to dealing with fraud

Case Studies

Accreditation

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