Synopsis

In today’s global and competitive business environment, unethical business practices and fraudulent behaviours are often identified as major contributing factors in corporate problems, collapses and business crises. Corporate fraud whether external or internal is a current and growing issue that organizations need to address if they want to ensure their long-term profitability & sustainability.

Hence, the purpose of the CFROTM program is to develop fraud risk management professionals able to create a fraud risk management strategies that integrates risk control systems and culture to support successful fraud prevention and detection in your organization

Key Learning Objectives of the CFRO™

Understand how within the ERM framework, to management your organization’s greatest asset and liability: Your people.

Objective 1 - Business Ethics: Understand the implications of regulatory requirements and evaluate the extend of your organization exposure to compliance risks

Objective 2 - Fraud-Aware Organisation: Define corporate governance for your organisation and develop a clearly ethical basis to your business operation and decisions

Objective 3 - Prevention & Detection: Develop an effective compliance system that support the strategy of the organization by aligning stakeholders’ needs & value

Program Structure & Curriculum

The program consists of 5 workshop modules and provides a comprehensive and structured learning path covering the field of Fraud Risk Management:

The Essentials of Fraud Risk Management
CCM8	Business Ethics & Fraud Risk
EKM7	Framework for Fraud Risk Management
Key Areas of Practice for  Fraud Risk Management
EKM6	Corporate Governance & Fraud Risk Management
EKM4	HR & Fraud Risk Management
EKM8	Internal Audit & Fraud Risk Management

Each workshop module consists of intensive 1-day/7hours of contact hours.

CFRO™ is your passport to effective Fraud Risk Management!

Modules Outline

CCM8 - Business Ethics & Fraud Risk
In a world where there is no clear moral compass to guide leaders through dilemmas about what is right or wrong when managing Risks and Opportunities, this module explores the complex ethical and social dimensions of conducting business operations. The module provides a framework that will help participants identify and understand human behaviour in relation to unethical and fraudulent practices. It further explores how to build an organizational model that deters these practices by focusing on business sustainability through effective management of human and cultural factors.

EKM7 – Framework for Fraud Risk Management
Fraud continues to make news headlines all over the world, affecting small to large organizations alike. A lot is at stake when fraud happens, as millions of dollars can be lost, not to mention a damaged reputation that often can even affect the survival of an organisation. This practical module will provide you with the most updated current framework including methodologies and best practices to protect your organization against fraud with strong corporate ethics, effective prevention and detection systems.

EKM6 - Corporate Governance & Risk Management
Recent corporate collapses and the financial crisis have highlighted the inability of existing internal controls and risk management systems to prevent unethical and fraudulent behaviours. This module will guide participants through a comprehensive roadmap on how to strengthen corporate governance by promoting transparency, accountability and effectiveness in management practices in order to better align and protect the diverging interests of the various stakeholders in the corporate “game”.

EKM4 - Human Resource Risk Management
The mismanagement human capital is a recipe for business failure. This module presents a methodology to map the human relationships in organizations in order to identify where and how it affects organization performance by either creating or destroying value. You will also learn how you can influence your people and nurture the type of behavior & culture that supports sustainable value creation for your organization by supporting ethical behaviours and preventing frauds.

EKM8 - Internal Audit & Fraud Risk Management
This module provides a practical roadmap on how to conduct effective Risk-Based Internal Audit (RBIA).  You will learn how you can employ risk-based methodologies in planning and conducting audits to provide assurance on the adequacy of integrated risk management practices and management control frameworks including the detection of fraudulent practices.