Fraud Risk Management – official ACFE training
In this official 2-day ACFE Fraud Risk Management training you will learn how to integrate anti-fraud initiatives into the risk management program of your organization. You will earn 16 CPE credits for your CFE recertification
Fraud Risk Management – mode of study
Option 1: 2-day training (in-class and live online)
Option 2: In-house training (in-class and live online)
IMF Academy – ACFE authorized training organization
IMF Academy is an ACFE authorized training organization and the exclusive provider of CFE (Certified Fraud Examiner) trainings in the Benelux.
Organizations lose an estimated 5% of their annual revenues to fraud
With organizations losing an estimated 5% of their annual revenues to fraud, the need for a strong anti-fraud attitude and proactive, comprehensive approach to combating fraud is clear. As organizations increase their focus on risk, they should take the opportunity to consider, enact and improve measures to detect, deter and prevent fraud. Unfortunately, many risk management professionals tend to underestimate the role of fraud in the scope of their professional duties. This training will explain how organizations can integrate anti-fraud initiatives into their risk management programs to:
- Identify, assess and manage fraud risks from all sources
- Support fraud risk management initiatives by establishing an anti-fraud culture and promoting fraud awareness through the organization
- Develop a system of internal controls to address the entity's fraud risks
- Address and respond to any identified instances of fraud
About the ACFE (Association of Certified Fraud Examiners)
The ACFE is the world's largest anti-fraud organization and the premier provider of anti-fraud trainings and education. Together with more than 85.000 members in 160 countries and chapters in 125 countries, ACFE is reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity within the profession.
What will you learn in this official ACFE training?
You will learn how to:
- Identify fraud risks and the factors that influence them
- Develop and implement the necessary components of a successful fraud risk management program
- Identify and implement the elements of a strong anti-fraud corporate culture
- Perform a comprehensive fraud risk assessment across the organization
- Identify financial, transactional, and behavioral indicators of fraud
- Evaluate the fraud risk management program against a maturity model
Who should attend?
Certified Fraud Examiners (CFE) and other anti-fraud professionals; bank and financial institution auditors; controllers and corporate managers; forensic and management accountants; accounts payable and financial analysts; governance, risk and compliance (GRC) officers; internal and external auditors, CPA's an CA's.
ACFE CPE credits
Individuals holding a Certified Fraud Examiner (CFE) certification may claim 16 CPE credits to maintain their certification. You will receive a certificate of completion that includes the number of CPE hours attained to claim participant CPE credits.
Maintaining your Certified Fraud Examiner (CFE) credential – CPE requirements
To maintain your CFE credential, you are required to earn at least 20 hours of Continuing Professional Education (CPE) every 12-month period. Al least 10 of these hours must directly relate to the detection and deterrence of fraud and 2 hours must directly relate to ethics. If you have earned more than 20 hours of CPE in your previous reporting period, you may rollover up to 10 of these hours to meet your current CPE requirements.
With this official ACFE 'Fraud Risk Management' training you will earn 16 CPE credits - of which 2 are Ethics credits - for your CFE recertification.
We expect you to be familiar with common fraud schemes and risks.
Educational level of the training
The Fraud Risk Management training will be held on a higher educational level.
You and/or your colleagues might be interested in the following trainings:
Fraud Risk Management – introduction
- Building an effective fraud risk management program requires solid understanding of how and why fraud is perpetrated
- Components of a fraudulent act, different types of fraud schemes and the impact fraud has on organizations
- Analyze why individuals commit fraud and why the threat of punishment alone does not deter potential fraudsters
Fraud Risk Management – overview
- The risk of fraud is just one of the many types of risks to be managed by your organization. But to let this risk fall out of focus can bring catastrophic results
- Overview on risk management frameworks
- Concept of fraud risk, including the factors that influence it
- Why businesses should manage fraud risk and who within the organization is responsible for this task
Developing a Fraud Risk Management program
- Without clear, defined objectives, a fraud risk management program cannot be effective
- How to set program objectives and define risk appetite as the first step in building the program
- 7 other steps involved in developing a fraud risk management program
- Program components necessary to fully manage the risk of fraud
Fraud Risk Assessment – part 1
The foundation of a successful fraud risk management program is a well-designed and properly executed fraud risk assessment.
- What makes a good fraud risk assessment and how to plan and prepare the organization for the assessment?
- Numerous considerations that must be incorporated into the assessment process to ensure the fraud risk assessment's success
Fraud Risk Assessment – part 2
- How to apply a risk assessment framework?
- How to use the results of the assessment to boost the success of the fraud risk management program
General anti-fraud controls – entity level/establishing an anti-fraud culture
Identify different types of internal controls and the framework for building an effective system of internal controls for your organization
- How to design and implement entity-wide controls to prevent fraud, such as the proper tone at the top and good hiring practices
- How to detect fraud, such as hotlines and proactive fraud audit policies
Ensuring fraud awareness
- The need for an ethical corporate culture and what such a culture looks like
- Identify the roles and responsibilities of different parties throughout the organization with regard to managing fraud risk
- How performance measurement and management initiatives can support - or hinder - the organization's anti-fraud initiatives
- How to promote employee fraud awareness by instituting an effective employee anti-fraud education program, ethics policy, code of conduct, and employee support programs
Specific anti-fraud controls – process or transaction level
In every organization, internal controls should be enacted to address the risk that specific processes or transactions are susceptible to manipulation by fraudsters. This session breaks down the control mechanisms designed to prevent each type of fraud scheme - from skimming to financial statement manipulation to data breaches - that an organization might face.
Using automated continuous monitoring tools
The use of automated continuous monitoring tools is a best practice in managing the risk of fraud. However, if not implemented properly, it can become quite time consuming and cumbersome.
- Discuss the benefits of and potential issues with the use of such tools
- Types of automated tests and data analytics that can be used to help identify potential fraud
Responding to discovered fraud
An effective fraud risk management program includes processes and procedures for investigating and remediating any identified instances of fraud, and for providing swift and appropriate punishment to identified perpetrators.
- Procedures for receiving and evaluating fraud allegations
- Planning and undertaking a fraud examination
- Reporting and responding to the findings of the investigation
All participants will receive a Personal Certificate. Individuals holding a Certified Fraud Examiner (CFE) certification may claim 16 CPE credits - of which 2 are Ethics CPE hours - to maintain their certification.
The Fraud Risk Management training is facilitated by an ACFE authorized trainer.
Your trainer is:
Robert Lamers CFE
Robert Lamers is an anti-fraud and crisis management specialist and toptrainer of our CFE trainings. He served as a senior corporate anti-fraud officer with NN Group and ING Insurance for many years. Robert is head of European Partnership Development at the Association of Certified Fraud Examiners (ACFE).
The training Fraud Risk Management lasts for 2 days from 09.30 hrs - 17.00 hrs. The training will take place in The Netherlands (in-class and live online, up to your choice) on the following dates:
Fraud Risk Management – training I
- 23 + 24 September 2021
Fraud Risk Management – training II
- 27 + 28 January 2022
The fee of the 2-day official ACFE training Fraud Risk Management is € 1.980 (VAT excl.) per person. The fee includes all lunches, coffee/tea, the official ACFE documentation and 16 CPE credits - of which 2 are Ethics CPE hours - for maintaining your CFE certification (if applicable).
With at least 5 participants an in-house training could be your best option. An in-company training, customized to the needs of your organization, has many advantages and:
- saves you and your colleagues time
- enables you to train in the comfort of your own working environment
- saves travel and accommodation expenses
- can be arranged at a time convenient for you
- sensitive issues can be discussed openly since no outsiders are present
Do you prefer an in-company training? Please call us at +31 (0) 40 246 02 20 or send an e-mail to email@example.com for more information. We are more than happy to discuss the various possibilities with you.