About this Course

According to the KPMG-SMU Singapore Fraud Survey 2014, some important facts and findings you should know;

1. Internal fraud has risen since 2011 and remains the most significant threat.
   
2. 58% of the fraud incidents reported in 2014 were perpetrated by employees.
   
3. 53% of respondents said fraud occurred due to weak or overridden internal controls, despite most having fraud risk management measures in place.
   
4. 29% of respondents indicated at least one fraud incident had occurred in their organisation over the past two years.
   
5. Bribery and corruption are of great concern to 66% of Singaporean companies when doing business overseas.
   
6. 64% Singaporean companies cited employees misused sensitive information one of the most common e-crime in the corporate world.
   

If you think fraud is a threat to your organisation, what should you do to protect your organisation from fraud?  Are your employees equipped with the relevant skills and information, to detect and prevent fraud?

This two-day training programme gives you the insights of fraud, explaining to you the roots and causes of fraud. To combat fraud, every manager should know how to recognise fraudster and the possible indicators leading to fraud. Fraud deterrence starts with the people, only if the people has the intention to safeguard the organisation from fraud.

Objectives

Upon completion of this workshop, participants will be able to;

• Understand and explain how a Fraud could take place
  
• Understand the motivating factors for an individual to commit fraud
  
• Understand and describe the various schemes in fraud
  
• Understand how fraud can take place in various business processes
  
• Understand and apply effective fraud prevention programme in your organisation
  
• Design key control activities and policies to detect and prevent a specific fraud scheme in a business process
  
• Develop a fraud risk register to systematically reduce fraud risk using Risk-based Approach
  

Target Audience

• Internal Audit Executives and Managers
  
• Finance and Accounting Officers and Managers
  
• Operations and other function Executives and Managers
  
• Academicians
  
• Compliance officers
  
• Strategic and Planning Executives and Managers
  
• Risk Managers and Fraud Prevention Officers
  

Duration

Two days

Curriculum

Introduction to Fraud

• The definition of Fraud
  
• How Fraud could take place
  
• The Fraud Triangle and its implications
  
• Who is a Fraudster?
  
• How Fraud can affect your organisation
  

The Various Fraud schemes

• Corruption
  
• Misappropriation of Assets
  
• Financial Statement Fraud
  
• Accounts Receivable Fraud
  
• Illustrations and Samples
  
• Video Presentation
  

How to get away with Fraud?

• How Fraud Conversion takes place
  
• Why Fraud Concealment is important to hide Fraud Conversion
  
• The Common Techniques in Fraud Concealment
  
• The Connection between Fraud Concealment and Fraud Conversion
  
• An illustration on how a fraud conversion took place and was concealed to avoid detection
  

Fraud Prevention and Detection

• The difference between Fraud Detection and Prevention
  
• How Control Activities and Policies can reduce Fraud Incidences
  
• Definition of Internal controls
  
• Good and Effective Internal controls
  
• How to design internal controls to detect and prevent a specific fraud
  

Control Environment

• The importance of Good Control Environment
  
• The five Components in COSO
  
• Other important factors you should consider in mitigating Fraud
  

Fraud Prevention Programme

• Developing a Fraud Prevention Programme
  
• The Essentials of a Fraud Prevention Programme
  
• Who owns and responsible for Fraud?
  

Fraud Risk Register

• What makes a good Fraud Risk Register
  
• The seven steps in developing a Fraud Risk Register
  
• Prepare a Fraud Risk Register for an identified Fraud Risk
  

Recapitulation

• Questions and Answers
  
• Review
  

Methodologies

Instructor-led Presentations with class exercises, group discussion, simulation exercises and case studies.

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