This certification course will discuss the components of a comprehensive and effective fraud risk management program, including deterrence, detection, investigation, and remediation.
The course is designed to ensure employees understand the fraud risk assessment framework, how to execute fraud risk assessment, implement anti-fraud strategy, and features of the whistleblower program.
The risk of fraud is just one of the many risks to be managed by an organization; however, many risk management professionals tend to underestimate the role of fraud in the scope of their professional duties. The failure to properly manage this risk can bring catastrophic results. Building an effective fraud risk management program to combat corporate fraud requires a solid understanding of how and why fraud is perpetrated.
The U.S. Congress enacted the Foreign Corrupt Practices Act (FCPA) in 1977 in response to findings that companies had been making hundreds of millions of dollars of questionable payments to foreign government officials, politicians, and political parties. This CFMC training course explains the major principles of U.S. anti-corruption laws, persons subject to CFMC, implications, consequences, etc.
The report 2018 Report to the Nations on Occupational Fraud & Abuse states that organizations worldwide lose an estimated 5% of their annual revenues to fraud based on the analysis of cases investigated between January 2016 and December 2017. The organization must create a culture and structure conducive to fraud risk management.
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What you will learn:
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