Exam Preparation
CFRSCertified Fraud Risk Specialist
Rating:
English
Intermediate
FACE 2 FACE
ON SITE TRAINING
LIVE VIRTUAL
TRAINING
COACHING
& MENTORING
SELF-PACED
TRAINING
Select Date
Download Brochure
Course Overview
The Certified Fraud Risk Manager program is designed to enable fraud professionals to obtain a solid understanding of the key pillars that are required to fortify their organizations against fraud.
This program focuses on prevention and enables participants to identify areas within their organizations that are most vulnerable to fraud, providing them with the guidance and tools that will enable them to assist their organizations in designing the appropriate framework to strengthen these areas of vulnerability.
The CFRM focuses on Fraud Risks with a specific objective of how fraud professionals can enable their organizations to identify the essential fraud risks impacting their organizations and what are the necessary steps they need to adopt to mitigate these risks from materializing.
This program also involves a detailed case study involving a recent multi-national fraud that was revealed in 2020, whereby participants will draw conclusions on what happened and how it could have been prevented.
This program focuses on prevention and enables participants to identify areas within their organizations that are most vulnerable to fraud, providing them with the guidance and tools that will enable them to assist their organizations in designing the appropriate framework to strengthen these areas of vulnerability.
The CFRM focuses on Fraud Risks with a specific objective of how fraud professionals can enable their organizations to identify the essential fraud risks impacting their organizations and what are the necessary steps they need to adopt to mitigate these risks from materializing.
This program also involves a detailed case study involving a recent multi-national fraud that was revealed in 2020, whereby participants will draw conclusions on what happened and how it could have been prevented.
Key Takeaways
1
Understand the importance of effective governance in the establishment of a solid Fraud Risk Management Framework.
2
Identify Fraud Risks at the Board of Directors Level
3
Identify Fraud Risks at the Executive Management Levels.
4
Identify the different types of fraud schemes that may impact your organization.
5
Enable participants to proactively communicate with the Board of Directors on the importance of establishing a Fraud Risk Management Framework within the organization
International Academy of Business and Financial Management
The International Academy of Business and Financial Management™ (IABFM) is a global professional association offering certification training programs worldwide. IABFM™ hosts and organizes professional development courses and grants exclusive board designations to candidates who successfully meet its established standards and assessment criteria. With more than 200,000 members and affiliates across over 145 countries, IABFM™ focuses on advancing careers in business, finance, and management through specialized certifications.
Course Outline
Part 1: Introduction to Fraud Risk Management & Fraud Governance
Fraud Case Studies
→ Wirecard
→ Wellsfargo Bank
→ Volkswagen
→ Wellsfargo Bank
→ Volkswagen
Fraud Risk Management Framework
We will provide the participants with an overview as to many guidance on Fraud Risk Management that have been globally published such as the Fraud Risk Management Guide that has been developed by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the Association of Certified Fraud Examiners (ACFE). We will also discuss how an organizations existing Enterprise Risk Management (ERM) framework can be further tailored to incorporate a specific section on fraud risks.
Board of Directors
Many professional surveys have highlighted that the costliest frauds are those that take place at Board of Directors & Executive Levels. Therefore, the Board of Directors has a critical role in ensuring that they have developed the necessary internal mechanisms that mitigate fraud risks at their level.
This program focuses on what these specific governance disciplines are and how they can be implemented to further strengthen the ability of the Board to practice its oversight responsibilities in a transparent and competent manner.
The key Topics highlighted in this area address:
→ Related Party Transactions
→ Conflicts of Interest
→ Code of Conduct
→ Performance Assessment
→ Embedding Fraud Risks in Strategy Development
→ Remuneration Policies
→ Fraud Risk – Risk Management, Internal Audit or Compliance?
→ Policies & Procedures
→ Culture
→ Whistleblowing
→ Systems & Automation
→ Employee Accountability
→ Performance Measurement
This program focuses on what these specific governance disciplines are and how they can be implemented to further strengthen the ability of the Board to practice its oversight responsibilities in a transparent and competent manner.
The key Topics highlighted in this area address:
→ Related Party Transactions
→ Conflicts of Interest
→ Code of Conduct
→ Performance Assessment
→ Embedding Fraud Risks in Strategy Development
→ Remuneration Policies
→ Fraud Risk – Risk Management, Internal Audit or Compliance?
→ Policies & Procedures
→ Culture
→ Whistleblowing
→ Systems & Automation
→ Employee Accountability
→ Performance Measurement
Part 2: Fraud Risk Management Framework
Fraud Risk Management Guide
→ Fraud Risk Governance
→ Fraud Risk Assessment
→ Fraud Control Activity
→ Fraud Investigations & Corrective Action Plans
→ Fraud Risk Management Monitoring Activities
→ Fraud Risk Assessment
→ Fraud Control Activity
→ Fraud Investigations & Corrective Action Plans
→ Fraud Risk Management Monitoring Activities
Fraud Risk Management
→ Analyzing Internal & External Factors
→ Types of Fraud Risks
→ The Fraud Triangle Data Analytics & Risk Identification
→ The Fraud Risk Register
→ Factors influencing Fraud
→ The Anti-Fraud Play Book
→ Different Fraud Schemes
→ Thinking like a fraudster
→ Types of Fraud Risks
→ The Fraud Triangle Data Analytics & Risk Identification
→ The Fraud Risk Register
→ Factors influencing Fraud
→ The Anti-Fraud Play Book
→ Different Fraud Schemes
→ Thinking like a fraudster
Part 3: Fraud Risk Identification
Fraud Risk Assessment & Identification
Fraud Risks cannot be managed if they are not identified. Fraud Professionals need to have the ability to identify fraud risks in any process they encounter and most importantly, they need to have the ability to train and guide process owners in identifying fraud risks. Therefore, this section will focus on the key techniques that fraud professionals need to acquire to effectively identify fraud risks. Participants will conduct several case studies that will enable them to effectively identify and document fraud risks that may result in different types of fraud schemes across different industries.
Part 4
Anti-Fraud Controls
Once Fraud Risks are identified participants need to learn how to design anti-fraud controls that mitigate identified fraud risks. We will not only focus on the effective design of anti-fraud controls but also the challenges faced by many organizations in ensuring that these controls not only exist in form but also in substance. This section will focus on the following:
→ Automated Vs. Manual Controls
→ Preventive & Detective Controls
→ Control Reports & Data Analysis
→ Technology & Related Controls
→ Whistleblowing system
→ Code of Ethical Conduct
→ External Auditors
→ Effective Internal Audit Functions
→ Whistleblowing Systems
→ Anti-Fraud Policy
→ Employee Support Programs
→ Fraud Trainings for Executives/ Employees
→ Dedicated Fraud Department
→ Fraud Risk Assessment
→ Proactive Data Monitoring / Analysis
→ Rewards for Whistleblowers
→ Automated Vs. Manual Controls
→ Preventive & Detective Controls
→ Control Reports & Data Analysis
→ Technology & Related Controls
→ Whistleblowing system
→ Code of Ethical Conduct
→ External Auditors
→ Effective Internal Audit Functions
→ Whistleblowing Systems
→ Anti-Fraud Policy
→ Employee Support Programs
→ Fraud Trainings for Executives/ Employees
→ Dedicated Fraud Department
→ Fraud Risk Assessment
→ Proactive Data Monitoring / Analysis
→ Rewards for Whistleblowers
Part 5
Fraud Investigations
Although the main aim of this program is to focus on fraud prevention through the design and implementation of an effective Fraud Risk Management Framework. We have allocated a section on fraud investigations to ensure that participants can implement one of the Fraud Risk Management components relating to Fraud Investigations & Corrective Action Plans. This section will briefly cover the following:
→ Why conduct fraud examinations?
→ What fraud examinations entail?
→ Fraud Theory Approach
→ Fraud Response Plan
→ Initial Response to Suspicions or Allegations of Fraud
→ Planning & Conducting Formal Investigations
→ Investigation Plan
→ Pre-Fraud Examination
→ What are the Goals From the Examination?
→ Determine Scope of Investigation
→ Establish Investigation Timeframe
→ Outline the Course of Action
→ Analyzing Documents
• Types of Evidence
• Forensic Documentation Examinations
• Chain of Custody
→ Interviewing
• Characteristics of Successful Interview
• Elements of Conversations
• Inhibitors of Communications
• Facilitators of Communication
→ Why conduct fraud examinations?
→ What fraud examinations entail?
→ Fraud Theory Approach
→ Fraud Response Plan
→ Initial Response to Suspicions or Allegations of Fraud
→ Planning & Conducting Formal Investigations
→ Investigation Plan
→ Pre-Fraud Examination
→ What are the Goals From the Examination?
→ Determine Scope of Investigation
→ Establish Investigation Timeframe
→ Outline the Course of Action
→ Analyzing Documents
• Types of Evidence
• Forensic Documentation Examinations
• Chain of Custody
→ Interviewing
• Characteristics of Successful Interview
• Elements of Conversations
• Inhibitors of Communications
• Facilitators of Communication
Who Should Attend?
This highly practical and interactive course has been specifically designed for
→ Risk Management Professionals
→ Compliance Professionals
→ Internal Auditors
→ Fraud Examiners
FAQ
What language will the course be taught in and what level of English do I need to take part in a LEORON training program?
Most LEORON courses are delivered in English. However, there are some courses offered in Arabic, mainly online. For our in-house courses, sessions can be curated and delivered in any language upon request. In general, the best way to confirm language availability is to check with our Enrollment Managers for the most up-to-date information. Simply click on “Let’s talk on WhatsApp” to chat with us directly.
What formats are the courses offered in?
LEORON delivers training in various formats including face-to-face, live virtual sessions, self-paced learning, in-house delivery as well as online courses.
Are LEORON Public courses certified by an official body/organization?
Yes, most LEORON public courses are accredited by internationally recognized bodies such as CIPD, ATD, PMI, EdEx, and many others—depending on the course.
Who accredits LEORON’s training programs?
LEORON partners with over 20 international bodies such as PMI, CIPD, ATD, EdEx, NASBA, CISI, GARP, HRCI, SHRM, ACCA, ASQ, IIA, ILM, IAC, and others
Are CPD points or PDUs provided?
Yes, learners can earn CPD credits and professional development units (PDUs) including NASBA CPEs, PMI PDUs, CISI, GARP, HRCI, SHRM, and more.
How can I register for a course?
You can register through our website by filling in the inquiry form, or by speaking directly with one of our consultants via WhatsApp or email. Once we confirm your interest, we’ll guide you through the steps.
When is the registration deadline for public courses?
Registration typically closes 14 days before the course start date, with occasional late registrations accepted upon confirmation
What is included in the course fee?
The fee generally covers 5-star venue facilities, training materials, certified instruction, lunches and refreshments, plus certification and membership where applicabl0065
Are there group rates or discounts?
Yes, group bookings and corporate-level discounts are available. Learners are encouraged to reach out to discuss specific arrangements
What support is available with registration?
Enrollment Managers and a Registration Desk assist with the entire process, including deadlines, travel logistics, and course customization. As well as any other special requests you might have. Simply to go your preferred course and click on “Let’s chat on WhatsApp” to do so.
Can I request a bespoke course at my location or within my organization?
Yes, in-house training is fully customizable in terms of curriculum, language, delivery, and timing. You can suggest dates and locations. Simply to go your preferred course and click on “Let’s chat on WhatsApp” in order to address any questions or concerns in this regards.
What is the refund or cancellation policy?
Refund and cancellation policies vary depending on the course type and location. Generally, cancellations made at least 14 days before the course start date may be eligible for a full or partial refund, while cancellations made closer to the course date may incur a fee. For exact terms, please consult your Enrollment Manager or refer to the course confirmation email.
Can I register multiple employees from my company?
Yes. We support group registrations and offer corporate packages for organizations enrolling multiple participants. Our team can help coordinate the logistics for group bookings.
Who should attend these courses?
LEORON caters to a variety of professionals: from those seeking leadership development to project managers, HR specialists, finance professionals, cybersecurity, procurement, Ai enthusiasts and many others.
Do I need prior experience or academic qualifications?
Not always. Many specialized paths, like cybersecurity, accept learners without prior experience. However, some courses (e.g., PMI PDU-based ones) may have recommended prerequisites. Its always better to chat with one of our Enrollment Managers to discuss more. Simply to go your preferred course and click on “Let’s chat on WhatsApp” to do so.
Will I receive a certificate after completing the course?
Yes. Upon full attendance and successful completion, you will receive a certificate of participation or accreditation, depending on the course.
Are meals and refreshments included in face-to-face courses?
Yes. For in-person courses, lunch and coffee breaks are provided daily at the venue.
Can LEORON deliver a course in-house at our organization?
Absolutely. All programs can be delivered privately at your company or virtually for your team, customized to match your internal goals and structure.
Reviews
- Review:IAMM Internal Audit Maturity ModelIn recognition of their dedication and contribution supporting IKEA Saudi Arabia in arranging training programs during 2017 & 2018, looking forward for more development and exciting effort this year. On behalf of IKEA Saudi Arabia, THANK YOU!Dalal KutbiCountry Learning & Development Manager at IKEA Saudi Arabia
- Review:Certified Professional in Quality and Patient SafetyDating back to 2014, Mobily’s “LEORON” experience has grown from a single collaboration to a long-term partnership. We consider ‘’LEORON” Institute as a strategic partner, whose contribution has been nothing but premium in equipping our staff with field-based knowledge and information. Past three years have resulted with an expanded collaboration with superior customer service and support. Best Regards,Turki S. AlsahaanDir L&D, Talent Management at Mobily, Etihad Etisalat Company
- Review:Certified Professional in Quality and Patient SafetySince the partnership was signed between BAE Systems Saudi Development & Training and LEORON in 2017, we have been working together to offer the Saudi market a complete portfolio of training solutions benefiting from the wide and extensive experience of both parties. Recognizing the great success of this partnership, we are looking for further collaborations in the future that will position both companies as one of the leading training providers in Saudi Arabia. We thank the LEORON team for their full cooperation and continuing support, and look forward to further success together in the years to come.Emad AlrajihVP, Business Winning at BAE Systems Saudi Development & Training
- Review:Certified Professional in Quality and Patient SafetyWe have been working with LEORON for the past two years and will be working with them again this upcoming year. The programs they delivered were fruitful and exciting and our organization has received positive feedback from the participants. What our organization aims to do is to provide at no cost training for all the private sector employees so that they may benefit from our offered programs in Innovation and Professional development. Leoron has helped us achieve this goal. We look forward to continuing this service and wish them the best of luck. Regards,Nasser M. Al-SubaieSr. Program Officer, Enterprise Learning & Human Development at Kuwait Foundation for the Advancemen
