Module 1 -Fraud and Corruption Control Framework
· Description:
On Day One the course looks at preventing and minimizing fraud and corruption risks with a strong emphasis on continually improving staff awareness.
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- Strong management commitment
- Resources dedicated to defining, implementing and overseeing fraud and corrupt prevention initiatives
- Availability of various ethics and integrity-related publications for staff
- Various policies and procedures that provide clear guidance to staff on matters such as fraud and corruption control and conflicts of interest/gifts, benefits, and hospitality
- Identification and management of fraud and corruption risks via a comprehensive risk assessment and risk treatment plans
- Pre-employment screening
- Implementing a Fraud and Corruption Control Framework to prevent fraud
Module 2 -Detecting Fraud and Corruption
· Description:
On Day Two we look at implementing measures to early detect fraudulent and corrupt activity.
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- An organization-wide fraud detection strategy incorporating continuous monitoring and data mining analytics
- Provision of multiple avenues for individuals to report suspected fraud and corruption
- A risk-focused Internal Audit function, which also undertakes fraud audits
- Availability of internal Public Interest Disclosure officers and documented procedures, with staff, encouraged to make protected disclosures involving suspected improper conduct
- Periodic reviews by qualified external service providers to review high-risk corporate system data and identify any potentially fraudulent or corrupt behavior
Module 3 – Responding to Fraud and Corruption
· Description:
On Day Three the course looks at putting key response strategies in place for dealing with detected fraudulent and corrupt activity
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- A comprehensive complaint management system which includes a central portal for reporting instances of suspected fraud and corruption
- Availability of dedicated, experienced (internal and externally sourced) resources for investigating suspected fraud and corruption who operate in accordance with defined investigation standards
- An independent disciplinary system for dealing with staff who have been found to have committed fraud or acted corruptly
- Reporting and analysis of fraud and corruption cases to senior management with identification of any emerging trends
- KPIs for measuring the incidence of fraud and corruption
- Maintaining relationships with key external oversight and regulatory bodies in relation to the reporting and investigation of fraud and corruption matters
- Legal processes and insurance to recover losses in the event of financial loss
Module 4 -Stopping Fraud and Corruption
· Description:
On Day Four the course looks at the best approaches for stopping fraud and corruption
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- What’s the best approach for stopping fraud and corruption?
- What’s wrong with just trusting people?
- Why isn’t it enough to just sanction someone once such behavior is identified?
- What can I do to deter fraudulent and corrupt behavior?
- What is “doing the right thing”?
Module 5 – Internal Controls
· Description:
On Day Five the course looks at the most essential internal controls for deterring fraudulent and corrupt behavior.
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- Segregation of duties, to prevent one person from undertaking an entire transaction alone
- Clearly established lines of delegated authority and responsibility
- Position descriptions that clearly represent the jobs people actually do
- Compulsory clearance of overdue accumulated leave particularly for those in key positions of trust
- Job rotation (wherever possible) for those in key positions of trust
- Staff awareness, education, and training to ensure all staff are aware of and can recognize the signs of possible fraudulent or corrupt behavior
- Adequate protective measures for safeguarding, assets, processes, and data
- Documentation retained and managed in accordance with records management policy
- A work environment where people feel comfortable in raising concerns and are not penalized for doing so
- Ongoing management oversight/monitoring of work functions to verify that controls are operating effectively e.g. reconciliations, confirmations, exception reports
- Eight tips for great time management and stopping time stealers
