Fraud Risk Management

Overview

The ACFE/COSO Fraud Risk Management Guide (FRMG) was published in 2016 (and updated in 2023).  It has quickly gained acceptance as the set of best practices for preventing, detecting, and thus deterring fraud. The fraud landscape is constantly changing and evolving. The FRMG sets out a rigorous set of principles and leading practices for managing fraud risk for forward-thinking organizations to follow.  It covers:

• How to establish fraud risk management governance.
• How to conduct rigorous fraud risk assessments.
• How to design and implement fraud control activities.
• How to establish reporting mechanisms and investigative procedures.
• How to monitor the overall fraud risk management program.

Fraud risk can be managed.  All anti-fraud and accountability professionals will benefit from this session's focus on effective fraud risk management.

Prerequisites

None

Objectives

• The big picture: accounting principles, audit standards, internal control, enterprise risk and fraud risk management
• Fraud risk governance
• Assessing fraud risk
• Fraud control activities
• Fraud reporting and investigations
• Fraud risk monitoring
• Tools and resources for managing fraud risk

Highlights

• Fraud risk management
• Fraud risk assessments
• Data analytics
• Fraud risk management tools