Fraud Prevention, Detection and Control

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Date and Fee

21-25, August, 2023 Dar es Salaam Fee: Tshs. 850,000

20-24 November, 2023 Arusha  Fee: Tshs. 850,000

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Course Overview

The growing influence of fraud and corruption, and the manner in which these are perpetrated, requires a stable response by ensuring a proper investigation of facts. This course is aimed at imparting a detailed understanding of the investigation process. Forensic audit is an important subject to accountants, auditors, managers and forensic investigators in both private and public sector. In this course, participants will gain prominence in the detection and prevention of financial crimes especially in private and public organizations. Specific skills will be taught such as the application of special skills in accounting, auditing, finance, quantitative methods, the law and research including quantitative skills to collect, analyze, and evaluate financial evidence, as well as the ability to interpret and communicate findings.

Course Objective

The course is intended to impart participants with prominence in the detection and prevention of financial crimes especially in private and public organizations

Learning Outcome

After the course, participants will be able to;

  • Describe the main factors to prevent corporate
  • Appreciate the impact of corporate culture on the
    incidence of fraud
  • Detect symptoms of fraud and apply preventive measures in their organizations
  • Apply best practices for preventing and controlling fraud
  • Determine whether an individual or an organization has engaged in any illegal financial activities

Target Group

Accountants, Finance Managers, Middle level and top level managers, Forensic Investigators, Internal and External auditors, controllers, analysts.

Module 1:  Introduction

  • The concept of fraud
  • First and foremost fraud is a people problem. It
    is not an accounting dilemma.
  • The primary perspective here is internal fraud.
  • Fraud criminal deception the use of false
  • OED

Module 2: Defining Occupational Fraud and Abuse

  • The use of ones occupation for personal
    enrichment through the deliberate misuse or
    misapplication of the employing organisations
    resources or assets
  • At all levels of an organisation


Module 3: Elements of Fraud

  • A material false statement
  • Knowledge that the statement was false when it
    was uttered
  • Reliance on the false statement by the victim
  • Damages resulting from the victims reliance on
    the false statement
  • The Fraud Triangle and causes of fraud

Module 4: Major areas of exposure

  • Corruption, which includes conflicts of interest,
    bribery (including kickbacks), illegal gifts, and
    economic extortion
  • Misappropriation of assets, which includes
    skimming, theft, and asset misuse and
  • Financial statement fraud, which can include
    financial (either asset or revenue over- or
    understatements) and non-financial components

Module 5: Prevention VS Detection

  • Prevention is better than treatment
  • In order to prevent fraud there is a need to make
    an organisation immune against fraud

Module 6: Reducing the risk of fraud

  • The means to reduce risk
  • Prevention
  • Reduce the opportunity for
  • Deterrence (punishment)
  • Detection
  • Detection of fraud is much more costly
  • Responsibility of Fraud Prevention (Management and good corporate governance)
  • Elements of prevention (honesty, ethics, policies and procedures)

Modules 7: Step by step forensic audit and investigation

  • Scope
  • Estimated procedures
  • Plan of action – order and timing of procedures, dividing the steps
  • Underlying framework – company policies and/ or legislation
  • Identifying role players, stakeholders, process owners and /or interviewees
  • Identifying and listing evidence/data needed in line with estimated procedures and the custody
  • Data analytics
  • Review of documents
  • Experts
  • Interviews
  • Reporting

Module 8: Risk based auditing

  • Basic concepts
  • Framework
  • Identifying risk areas
  • Uncovering how to adopt risk-based approach in internal auditing
  • Review enterprise risk management and how to effectively establish a framework in your organisation
  • Evaluate internal audit’s readiness to adopt a risk based approach
  • Develop a plan for how to implement risk based auditing

Risk management techniques

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