Strategic Economic Crime and Fraud Prevention

• Delegates who have a direct responsibility for the detection and investigation of economic crime and fraud prevention, or who are looking to obtain specific skills within this area.

Course objectives

• To appreciate and apply advanced revenue and fraud management strategies and processes
• To understand and leverage the relationships between commercial requirements and contractual frameworks whilst managing end client relationships and perceptions
• To construct effective contractual frameworks and performance agreements
• To develop effective audit structures and practices to identify and mitigate against the threat of economic crime and fraud

Course content

Principles of revenue assurance and fraud management

• The importance and impact of revenue streams to the organisation
• The impact of revenue assurance and fraud management upon cash flow
• International Financial Reporting Standards (IFRS) – context and application

Revenue assurance

• Constructing effective revenue assurance strategies
• Liaison with revenue assurance stakeholders within the organisation
• Managing revenue assurance and end client relationships – process overview and perception of the organisation
• Effective revenue reporting as part of overall financial management information
• International contractual and legal best practice

Fraud management

• Overview of potential fraudulent occurrences
• Creating effective anti-fraud strategies and processes
• Communicating organisational fraud combat strategies to stakeholders
• Effective fraud reporting structures and content as part of overall financial management
• International fraud combat – best practice

Audit

• The role of the audit function in combating economic crime and fraud
• Ensuring objectivity of the audit function
• The role and structure of the audit charter and audit committee
• Capturing organisational specific risk profiles via audit outputs

Economic Crime – by Individuals

• Money laundering
• Off-shoring
• Working with global enforcement agencies
• Developing effective detention, prevention and compliance systems

Economic crime – by organisations

• Money laundering
• Off shoring via corporate structures
• Working with global enforcement agencies
• Developing effective detection, prevention and compliance systems

The economic crime-fighting toolkit

• Financial analysis – practical systems and process
• International Financial reporting Standards (IFRS)
• Risk based process mapping
• GAP analysis techniques

Conducting effective audits

• Pre-audit planning
• Effective audit sampling techniques
• Recording findings during the audit
• Engaging effectively with stakeholders

Developing Defence Systems

• Overview of electronic defence systems
• Integrating technology and internal process controls
• Global best practice
• Developing defences against new and emerging threats