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Internal Controls for Prevention, Detection & Deterrence

Internal Controls for Fraud Prevention, Detection & Deterrence Curriculum

All organizations are at risk to fraud. Professional standards recommend that organizations implement a fraud risk management program to help reduce the risk of fraud and to better identify when fraud is occurring. The cornerstone of a fraud risk management program is fraud risk identification and ensuring your organization has the right internal controls to mitigate fraud risk to an acceptable level.

In these fraud training sessions, the auditor will learn all the skills necessary to identify fraud risk and design fraud preventive, fraud detective and fraud deterrence internal controls. The learning experience will focus on what internal controls can accomplish and an understanding of the inherent limitations of internal controls. At the conclusion, the auditor will be able to assist management with building a fraud program that is right for their organization.

Fraud Prevention, Detection & Deterrence: Course Modules & Objectives 

Course 1: Anti-Fraud Program

This course will cover:

  • Key elements of anti-fraud programs
  • Overview of professional standards
  • Roles and responsibilities of management
  • How the auditor can help management
  • Fraud policy statements

CPE Hours: 1.5

Lecture time: 1 hour

Practical exercise time: 0.5 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum 

Learning level: Basic

Field: Auditing

Delivery Method: Group Live

Course 2: Anti-Corruption Program

This course will cover:   

  • Key elements of anti-corruption programs
  • Overview of Department of Justice (DOJ) Opinion 04-02 for compliance programs
  • Assessing how robust your compliance program is
  • Common compliance program issues

CPE Hours: 2.5

Lecture time: 2 hours

Practical exercise time: 0.5 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum

Learning level: Basic

Field: Auditing

Delivery Method: Group Live

Course 3: Fraud Prevention Program

This course will cover: 

  • Overview of key fraud prevention internal controls
  • How to integrate COSO framework
  • Understanding the limitations of fraud prevention controls
  • How to assess effectiveness of fraud prevention controls

CPE Hours: 2.5

Lecture time: 2 hours

Practical exercise time: 0.5 hour

Advanced Preparation: Fraud Risk curriculum

Prerequisite: None

Learning level: Basic

Field: Auditing

Delivery Method: Group Live

Course 4: Fraud Detection Program

This course will cover: 

  • Overview of key fraud detection internal controls
  • How to integrate COSO framework
  • Use of continuous monitoring programs
  • How to assess effectiveness of fraud detection programs

CPE Hours: 2.5

Lecture time: 2 hours

Practical exercise time: 0.5 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum

Learning level: Basic

Field: Auditing

Delivery Method: Group Live

Course 5: Fraud Deterrence Program

This course will cover: 

  • Overview of key fraud deterrence internal controls
  • How to integrate COSO framework
  • Key elements of fraud deterrence programs
  • How to assess the effectiveness of the hotline

CPE Hours: 1.5

Lecture time: 1 hour

Practical exercise time: 0.5 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum

Learning level: Basic

Field: Auditing

Delivery Method: Group Live

Course 6: Fraud Risk Management Program

This course will cover:

  • Understanding the impact fraud has on your organization
  • Developing the fraud risk management program
  • Roles of key parties in managing fraud risk
  • Fraud risk assessment; the key tool
  • Creating the anti-fraud culture
  • Fraud prevention and fraud deterrence controls
  • Creating the continuous fraud monitoring program
  • Organization response to incidents of fraud

CPE Hours: 3.5

Lecture time: 3 hours

Practical exercise time: 0.5 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum

Learning level: Basic

Field: Auditing

Delivery Method: Group Live

Course 7: Fraud Awareness Program

This course will cover:

  • What fraud is and what fraud is not
  • How fraud hurts the organization
  • Who perpetrates fraud
  • Root causes of fraud
  • Key behavioral red flags

CPE Hours: 2.5

Lecture time: 2 hours

Practical exercise time: 0.5 hour

Advanced Preparation: None

Prerequisite: Fraud Risk curriculum

Learning level: Basic

Field: Auditing

Delivery Method: Group Live

Other Fraud Training Curriculum:

Fraud Auditing, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education (CPE) on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.  

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