Certificate of Completion in COSO Fraud Risk Management confirming their practical knowledge in applying COSO’s guidance to design, implement, and sustain effective anti-fraud programs within their organizations. This certification enhances professional credibility in fraud governance and risk management practices.
COSO Fraud Risk Management Guidance Training
Strengthening Fraud Prevention, Detection, and Response with COSO’s Integrated Framework
Course Schedule
| Venue (InHouse) | Fees |
|---|---|
| At Your Organization Premises | Ask For The Quotation |
Course Introduction
Fraud continues to pose a critical threat to organizations, causing financial losses, reputational damage, and regulatory consequences. The Committee of Sponsoring Organizations of the Treadway Commission (COSO), in collaboration with the Association of Certified Fraud Examiners (ACFE), has developed the Fraud Risk Management (FRM) Guide to help organizations effectively manage fraud risk.
This comprehensive 5-day course equips professionals with the skills and knowledge to implement COSO’s Fraud Risk Management principles. Participants will explore the five key components of the COSO framework and learn to design, assess, and strengthen anti-fraud programs tailored to their organization’s size, industry, and risk exposure.
Course Objectives
By the end of this course, participants will be able to:
- Understand the COSO Fraud Risk Management Guide and its five components
- Identify inherent and emerging fraud risks across business processes
- Design and implement a tailored fraud risk management program
- Evaluate anti-fraud controls and conduct fraud risk assessments
- Establish effective fraud detection and investigation procedures
- Foster a strong anti-fraud culture and ethical workplace
Key Benefits of Attending
- Learn to proactively manage fraud risks using an internationally recognized framework
- Align your fraud risk strategies with governance and internal control systems
- Gain practical tools and templates to assess and respond to fraud risks
- Build internal capabilities to prevent, detect, and respond to fraud
- Meet expectations of auditors, regulators, and stakeholders for anti-fraud compliance
Intended Audience
This program is designed for:
- Internal and external auditors
- Risk and compliance officers
- Fraud examiners and investigators
- Finance, legal, and internal control professionals
- Executives responsible for governance and ethics programs
Individual Benefits
Key competencies that will be developed include:
- In-depth understanding of fraud risk governance
- Skills to design and evaluate anti-fraud controls
- Tools to conduct fraud risk assessments and investigations
- Ability to align fraud management with strategic and operational goals
Organization Benefits
Upon completing the training course, participants will demonstrate:
- Reduced vulnerability to financial, reputational, and legal fraud risk
- Improved fraud awareness and ethical behavior across the organization
- Strengthened internal control and compliance systems
- Enhanced reporting and transparency to boards, regulators, and stakeholders
Instructional Methdology
The course follows a blended learning approach combining theory with practice:
- Strategy Briefings – Deep dive into COSO FRM principles and fraud governance
- Case Studies – Analysis of real-world corporate fraud scandals and lessons learned
- Workshops – Developing fraud risk assessments, control design, and fraud response plans
- Peer Exchange – Sharing experiences and challenges in fraud prevention
- Tools – Templates for fraud risk registers, control self-assessments, and response protocols
Course Outline
DETAILED 5-DAY COURSE OUTLINE (CUSTOMIZABLE)
Training Hours: 7:30 AM – 3:30 PM
Daily Format: 3–4 Learning Modules | ☕ Coffee Breaks: 09:30 & 11:15 | 🍽 Lunch Buffet: 01:00 – 02:00
Day 1: Introduction to COSO and Fraud Risk Management Framework
- Module 1: Overview of COSO and ACFE Fraud Risk Management Guide (07:30 – 09:30)
- COSO’s five components and application to fraud
- Module 2: The Nature and Impact of Fraud (09:45 – 11:15)
- Types of fraud, fraud triangle, and organizational vulnerabilities
- Module 3: Case Study – Major Fraud Case Review (11:30 – 01:00)
- Module 4: Workshop – Identifying Fraud Risks in Your Organization (02:00 – 03:30)
Day 2: Fraud Risk Governance and Assessment
- Module 1: Establishing a Fraud Risk Governance Program (07:30 – 09:30)
- Tone at the top, roles, and responsibilities
- Module 2: Conducting Fraud Risk Assessments (09:45 – 11:15)
- Tools and techniques for risk identification and prioritization
- Module 3: Workshop – Building a Fraud Risk Register (11:30 – 01:00)
- Module 4: Peer Exchange – Fraud Risk Challenges in Various Sectors (02:00 – 03:30)
Day 3: Designing and Implementing Fraud Controls
- Module 1: Internal Control Activities for Fraud Prevention (07:30 – 09:30)
- Preventive, detective, and corrective control design
- Module 2: Evaluating Anti-Fraud Controls and Gaps (09:45 – 11:15)
- Module 3: Workshop – Designing Controls for High-Risk Areas (11:30 – 01:00)
- Module 4: Integrating Fraud Risk into Internal Control and Audit Plans (02:00 – 03:30)
Day 4: Detection, Investigation, and Monitoring
- Module 1: Fraud Detection Techniques (07:30 – 09:30)
- Red flags, data analytics, whistleblower systems
- Module 2: Investigating Suspected Fraud (09:45 – 11:15)
- Procedures, interviews, documentation, and reporting
- Module 3: Monitoring Fraud Risk and Controls (11:30 – 01:00)
- Module 4: Workshop – Developing a Fraud Detection and Response Plan (02:00 – 03:30)
Day 5: Ethics, Culture, and Program Sustainability
- Module 1: Promoting an Ethical and Fraud-Resistant Culture (07:30 – 09:30)
- Training, communication, and behavioral expectations
- Module 2: Reporting to Senior Management and the Board (09:45 – 11:15)
- Module 3: Self-Assessment and Program Evaluation (11:30 – 01:00)
- Module 4: Final Workshop – Fraud Risk Management Action Plan & Wrap-Up (02:00 – 03:30)