Participants will learn how to build and sustain an integrated fraud risk management program that combines governance, assessment, controls, investigation protocols, and monitoring. Participants will apply practical tools—policies, checklists, case exercises, and data-analytics touchpoints—to identify red flags, prioritize risks, and embed effective prevention and detection practices.

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.  

Course Content Created: September 2022

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About This Product

On-Demand Courses by CPA PRO are either video recordings from live seminars, or video recordings produced specifically for the on-demand audience. Where available, accompanying materials such as handouts or course notes are included.On-demand courses are eligible for verifiable CPD hours upon successful completion, and a certificate will be made available for download for your records.

Note that some courses comprise both formal instruction and self-directed exercises. In such cases, participants must complete both components to claim full CPD hours, or must reduce their reported CPD hours accordingly.

Please note that not all on-demand courses include downloadable materials such as course notes or slides.

How to get started

After completing your purchase, go to mylms.bccpa.ca. Log in using your CPABC Online Services credentials. Click Go to Your Courses and Materials to access your Learning Center. Select your course title to begin.