INTRODUCTION TO THE COURSE
Modern organizations operate in a climate where risk exposure is increasing, and control failures can have significant consequences. The ability to identify vulnerabilities, enforce strong internal controls, and proactively prevent fraud is crucial for sustaining operational integrity and stakeholder confidence. The Risk Management: Internal Control & Fraud Prevention training course is designed to provide professionals with the strategic insights and practical tools necessary to build a resilient control environment.
This training course emphasizes the interdependence between effective risk management, internal control systems, and fraud mitigation strategies. Participants will explore how to streamline control processes, develop preventive mechanisms, and align risk initiatives with broader organizational objectives to support a culture of transparency and accountability.
Key highlights of the Risk Management: Internal Control & Fraud Prevention training course include:
- Integrated strategies for managing business and operational risks
- Techniques to align internal controls with enterprise goals
- Practical tools for reducing control duplication and inefficiency
- Fraud detection and prevention approaches relevant to today’s challenges
COURSE DETAILS
Objectives
Upon completing this Risk Management: Internal Control & Fraud Prevention training course, participants will be able to:
- Build an integrated approach to managing risk and establishing effective controls
- Articulate the business value of comprehensive risk governance frameworks
- Utilize recognized techniques to identify, assess, and respond to risks
- Design and evaluate a mix of controls to prevent, detect, and correct errors or fraud
- Embed risk management practices into business planning and decision-making
- Establish a robust fraud prevention plan tailored to organizational needs
- Support ethical behavior through leadership and internal influence
Training Methodology
- This is a basic / intermediate level course and delegates are not required to have any previous experience in risk management or fraud prevention to attend
- Delegates should have a good educational standard and/or a professional qualification
- No advance preparation is required
- Delivery method – Group-live (with exercises and role-plays to simulate audit scenarios and situations that assurance professionals will encounter)
- A short examination will be given at the end of the training course
Organisational Impact
Organizations will gain measurable advantages by equipping their teams with the knowledge from this Risk Management: Internal Control & Fraud Prevention training course, including:
- Strengthened enterprise risk management practices
- More efficient and targeted internal control processes
- Enhanced capability to prevent and respond to fraudulent activity
- Better-informed decision-making supported by accurate risk insights
- Increased operational agility through simplified and streamlined controls
- A proactive, ethical organizational culture supported by well-defined processes
Personal Impact
Professionals attending this Risk Management: Internal Control & Fraud Prevention training course will benefit from:
- Expanded understanding of advanced risk management and control methodologies
- The ability to recognize and address control weaknesses
- Practical tools to integrate fraud prevention strategies into everyday operations
- Improved capability to influence compliance, ethics, and governance initiatives
- Career advancement through stronger subject matter expertise in risk and control disciplines
Who should Attend?
This KC Academy Risk Management: Internal Control & Fraud Prevention training course is suitable to a wide range of professionals but will greatly benefit:
- Risk Managers
- Business Managers in line functions
- Audit Managers and other auditors
- Quality Assurance Professionals
- Managers needing a broader understanding of risk and internal control
DAILY AGENDA
DAY 1: The Power of Effective Risk Management
- The Importance of Managing Risks Efficiently and Effectively
- The Need to Embed the Risk Management Process
- The Key Link between Risk and Objectives
- Risk Measurement Techniques
- Selling the Benefits
- Ensuring an Effective Balance between Risk and Control
- ISO 31000 Risk Standard
- Risk Appetite – The least well understood aspect of risk?
DAY 2: Effectively Managing the Risk Process
- Risk Mitigation Processes
- The Risk Register – and How to simplify them and optimise their value
- Identification of Risk Exposures – The 4 T’s
- Developing Action Plans and Improvement Opportunities
- Dealing with Over-managed Risks
- Linking the Output into the Business Planning Process
- Reputation Risk Management
- Engaging Stakeholders in the Process
DAY 3: The Internal Control Environment
- The Need to See Internal Control as a Positive Process
- The Pressure on Internal Controls due to Leaner Business Structures
- The COSO Internal Control Integrated Framework
- The 3 Types of Control – Preventative, Detective and Corrective
- How to Get Senior Management to Take Internal Control Seriously
- Compliance with Procedures and Policies
- The Constantly Changing Regulatory Requirements
DAY 4: The Key Pressures on the Internal Control Processes
- The Changing World Economy and the Impact on Controls
- The Ongoing Evaluation of the Control Environment
- Information Security
- Controls Over Technology
- Systems Development and the Risk to Internal Controls
- Internal and External Communications – and the Control Impact
- The Need for Internal Control Procedures Be Kept up-to-Date
DAY 5: Proactive Fraud Prevention
- Why internal controls may not protect you against fraud?
- How to Implement a Best Practice Fraud Prevention Process
- Evaluating the Fraud Risks
- Developing a Fraud Consciousness Loop
- The Anti-fraud Policy
- Recognising the Patterns of Fraudulent Behaviour
- Promoting Integrity and Ethics Across the Organisation
Certificate
- On successful completion of this training course, KC Academy Certificate will be awarded to the delegates.