Effective fraud risk management requires an integrated approach. Too often, businesses implement some helpful practices, but overlook other principles that ensure the full spectrum of their unique risks is addressed. This course uses a holistic approach that brings together key principles and practices using the COSO Fraud Risk Management Framework.

There is some overlap between this course and Fraud Happens – What to Do When You Suspect Fraud, which focuses on COSO Principle 4 and goes into much more detail about relevant investigative tools and techniques to perform investigations.

• CPAs in industry responsible for designing, operating, or improving fraud risk management programs. 
• Public practitioners who wish to better identify indicators of fraud and advise clients on practical program improvements.  

By the end of this course, participants should be able to: 

• Explain why fraud risk is pervasive and articulate the business case for a structured, organization-wide approach. 
• Conduct a foundational fraud risk assessment, identify red flags and risk factors, and organize results by business cycle. 
• Design and align preventive and detective control activities (including data-analytics procedures) to the assessed risks. 
• Outline a clear investigation and response protocol—from initial allegation and evidence preservation to corrective actions and recovery. 
• Establish monitoring practices that evaluate program effectiveness and drive timely communication and remediation.  

Topics include: 

• Foundations: why fraud risks must be managed; trends, definitions, fraud triangles, classifications, and downturn considerations. 
• Framework: principles of a comprehensive fraud risk management approach; roles of leadership, audit committees, and internal/external auditors. 
• Governance (Principle 1): tone at the top; code of conduct; fraud policy; ethics training; employee declarations; hiring practices; hotlines/whistleblowing. 
• Assessment (Principle 2): red flags and risk factors; organizing assessments; revenue/cost/payroll cycle risks; cybersecurity touchpoints; case exercises. 
• Controls (Principle 3): preventive and detective activities, management-override considerations, and proactive data-analytics procedures. 
• Investigation & Response (Principle 4): intake and triage, investigative planning and team, standards of proof, reporting, corrective actions, recovery/insurance. 
• Monitoring (Principle 5): ongoing/separate evaluations, measurement criteria, communication and remediation, and program refresh based on new schemes. 

Live webinars have varying levels of expected interaction, with some requiring microphone and camera capabilities to support a proper learning experience – please email pdreg@bccpa.ca if you have concerns. 

In general, we encourage participants to have their cameras turned on to enhance their virtual learning experience. This practice promotes a stronger connection with the instructor and fellow participants, and fosters improved communication and collaboration.

Live Webinar FAQs can be found here.  

Registration terms and conditions, including the cancellation policy can be found here. If you require further assistance, please contact the PD Department.