Risk Management: Internal Control and Fraud Prevention Certification Training Course

Why select this training course?

Selecting to study a course in risk management: internal control and fraud prevention at Rcademy is a good choice since the program gets structured to meet the ever-changing environment, business, and encountering inevitable threats. You will gain the knowledge and skill to control these rising vital risks which have caused a variation between a successful company and a struggling one, which will help you deal with them efficiently.

Dealing with the increasing issues requires a broad knowledge of risk control, proactive fraud prevention, and external control methods, which this Rcademy will cover and teach you in this course. Fraud prevention is essential to a successful organization and is a threat to companies. Therefore, companies should take the necessary steps to safeguard themselves against industry threats. In addition, leaders must ensure that management is in place while the workers should know the warning signs of fraud.

The Risk Management: Internal Controls and Fraud Prevention Certification Training Course by Rcademy introduces the risk management topic and looks at the various types of fraud before analyzing corruption and bribery. The Rcademy risk management training program will allow you to create and provide a systematic strategy to strengthen your prevention of fraud, risk management, and internal control.

Who should attend?

The Risk Management: Internal Control and Fraud Prevention Certification Training Course by Rcademy is ideal for:

• Managers wishing to have a broad knowledge of how fraud will affect their business
• Team members of the fraud team who wish to study more the internal targeting fraud
• Any person who is using technology in the business
• Newly recruited fraud specialists
• Managers wishing to know how to assess all types of fraud in their company
• Directors
• HODs
• Finance Staff
• Compliance and risk workers
• CEOs
• Internal audit
• Business owners and CFOs

What are the course objectives?

The objectives of The Risk Management: Internal Control and Fraud Prevention Certification Training Course by Rcademy are to enable professionals to:

• Determine the various types of crimes and cyber security
• Understand how easy it is for systems to get hacked
• Understand how to protect your business and yourself
• Understand how advanced and cleverly organized crime is a danger to your organization
• Apply the skills and knowledge learned to perform a thriving fraud investigation
• Determine the types of risks and how to evaluate them
• Understand how to do risk evaluation and why people do it
• Understanding the importance of internal risk management in a company
• Determining the outcomes of company risk management, fraud recognition, and internal control efforts
• Determining the insights into how to design and adopt risk management, fraud risks, and internal control framework
• Understand the concepts and terminologies associated with risk management, fraudulent activities, and internal controls
• Understand the federal authority guidelines and mandate that give the reasons behind the requirements for risk management, internal management, and fraud risk frameworks

How will this course be presented?

This Rcademy training course will help participants learn about the topics covered in the course outline using proven adult studying materials and facilitation methods. The seminar techniques used include role play, case study, and group discussions evaluating and analyzing the primary challenges facing current wealth management and private banking.

This Rcademy program in risk management: internal control and fraud prevention course is specially structured to give new participants skills for professional growth.

What are the topics covered in this course?

Module 1: Knowing Fraud

• Meaning of fraud
• Knowledge Check
• What kind of people commit fraud?
• Fraud in the digital world
• The fraud triangle

Module 2: Internal Controls

• Internal management pressure
• Internal management as a positive activity
• Risk controls and system growth
• Three types of control- detective, preventative, and corrective
• COSO- internal management integrated framework

Module 3: Types of Risks and What to Look for When Searching Risks

• Meaning of risks
• Identification of risk exposure (THE 4ts)
• Techniques of risk evaluation
• Risk register
• Controlling risks

Module 4: Hacking Your Company

• Understanding that all things can get hacked
• Insecurity and everything connected to it
• Biometrics of hacking
• Hacking your business and home
• Loss of privacy

Module 5: Investigating and Finding Fraud

• Techniques for investigation (covert and overt)
• Definition of evidence
• Gathering of roof
• When to include the help of law enforcement

Module 6: Understanding of Internal Controls

• What are the internal controls?
• Accountability
• The primary factors of internal controls
• Why internal control is vital in an organization
• The responsibility of internal management as an integral section of management
• Meaning of internal control to managers

Module 7: Internal Control Process and Legal Requirements

• Mandates of internal control
• How to assess internal control
• Fundamental components of an internal control program
• Federal manager’s instruction associated with internal control
• The integral act requirement in internal control

Module 8: The Link Between Fraud Detection and Prevention

• Goals for a price-effective balance between detection and prevention
  – Implementation of management checklists
  – Company rules on the effects of committing fraud
  – The requirement to get to reason like a fraudster- to assist in preventing it
  – Whistleblowing rule
  – Whistleblowing facilitation
  – Use of professionals to help in fraud recognition and investigation
  – Advantages and disadvantages of external hotlines
  – How to ensure that fraud assessments get the top priority in a company
  – Arranging and adopting fraud contingency plans
  – Use of successful fraud assessment as a moral deterrent
  – Controlling the external coverage of the proven fraud
• Application of computer-assisted audit techniques (CAATs)
  – Audit command language (ACL) fraud e-book
  – ACL as a fraud assessment tool
  – Benford’s law
  – CAATS and Benford’s paper
  – Examples of the Use of CAATs in fraud assessment
• The assurance responsibility associated with fraud
  – Investigation and prevention
  – The insurance auto auctions (IIA) current assessment is not an internal audit task
  – Should an assessment of fraud become an internal audit responsibility?
  – What can internal audit do to help in fraud detection?