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Quest Training

COSO Fraud Risk Management Guide & Anti-Fraud Programme Design Training Course

Applies the COSO Fraud Risk Management Guide to designing anti-fraud programmes embedded in risk management, internal control and governance.

CG · Corporate GovernanceAll Levels#2954ClassroomEnglish , Arabic
Duration
5 Days
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Free substitution at any time · 30+ days' notice: full refund minus 10%. Cancellation policy

Sectors:Risk, Compliance & GovernanceCategories:Corporate Governance

Course Overview

This course provides a practical understanding of the COSO Fraud Risk Management Guide and its application in designing, implementing, and evaluating effective anti-fraud programmes. Participants explore how organizations can integrate fraud risk management into enterprise risk management, internal control systems, corporate governance, and compliance frameworks to reduce exposure to fraud and strengthen accountability. The programme examines fraud risk identification, assessment, response, prevention, detection, and monitoring. Participants learn to evaluate fraud scenarios, assess control weaknesses, establish appropriate anti-fraud policies, define responsibilities, and develop reporting and escalation mechanisms. The course also addresses management override, conflicts of interest, third-party risks, financial reporting fraud, and asset misappropriation. Through practical case studies, risk assessment exercises, and programme design activities, participants develop the skills to build a structured anti-fraud framework aligned with COSO principles and relevant organizational requirements. Emphasis is placed on measurable controls, clear governance responsibilities, effective investigations, continuous monitoring, and ongoing improvement of the anti-fraud programme.

Learning Objectives

  • Explain the COSO Fraud Risk Management Guide and its role in strengthening organizational fraud risk management.
  • Identify the key components of an effective anti-fraud programme and their relationship to governance and internal control.
  • Conduct structured fraud risk assessments across organizational functions and business processes.
  • Analyse fraud schemes, root causes, enabling conditions, and potential organizational impacts.
  • Design fraud prevention and detection controls aligned with assessed risks.
  • Establish clear responsibilities for the board, management, risk functions, compliance, and internal audit.
  • Develop anti-fraud policies, reporting channels, escalation procedures, and investigation protocols.
  • Evaluate control effectiveness and identify gaps in the design and operation of anti-fraud measures.
  • Establish monitoring indicators and performance measures to assess programme effectiveness.
  • Prepare an actionable implementation and continuous improvement plan for an organizational anti-fraud programme.

Who Should Attend

Board members, audit committee members, and corporate governance professionals. Chief Risk Officers, risk managers, and enterprise risk management specialists. Internal auditors, external auditors, and internal control professionals. Compliance officers, ethics officers, and anti-fraud specialists. Finance directors, financial controllers, and accounting professionals. Fraud investigators, forensic accountants, and financial crime prevention professionals. Legal advisers and professionals responsible for investigations and regulatory compliance. Procurement, supply chain, operations, and business process owners exposed to fraud risks. Senior executives responsible for governance, risk, assurance, and organizational integrity.

Learning Outcomes

  • Interpret the purpose and application of the COSO Fraud Risk Management Guide.
  • Explain how fraud risk management connects with governance, enterprise risk management, and internal control.
  • Identify inherent fraud risks and evaluate their likelihood, impact, and organizational significance.
  • Develop fraud risk registers, risk scenarios, and risk prioritization criteria.
  • Select preventive and detective controls that address specific fraud exposures.
  • Define governance roles, accountability structures, and escalation responsibilities.
  • Establish practical reporting mechanisms that support confidential reporting and appropriate follow-up.
  • Evaluate anti-fraud programme gaps using control assessments, testing, and monitoring evidence.
  • Develop key risk indicators and performance measures to monitor fraud exposure and control effectiveness.
  • Produce an implementation roadmap for an effective and sustainable anti-fraud programme.

Course Outline

Day 1

COSO Fraud Risk Management Foundations and Governance

  • Overview of the COSO Fraud Risk Management Guide, its objectives, scope, and practical applications.
  • Relationship between fraud risk management, the COSO Internal Control—Integrated Framework, and enterprise risk management.
  • Fundamental fraud concepts, including corruption, asset misappropriation, financial statement fraud, and management override.
  • Governance responsibilities of the board, audit committee, executive management, and control functions.
  • Organizational culture, ethical expectations, accountability, and management's role in establishing an anti-fraud environment.
  • Integration of fraud risk management into corporate policies, risk governance, and internal control structures.
  • Practical Exercise: Assess an organization's existing fraud governance arrangements and identify priority areas for improvement.
Day 2

Fraud Risk Identification and Assessment

  • Identifying fraud risks across finance, procurement, human resources, operations, sales, and third-party relationships.
  • Developing fraud scenarios based on processes, incentives, opportunities, control weaknesses, and potential misconduct.
  • Assessing inherent and residual fraud risks using likelihood, impact, and existing control effectiveness.
  • Identifying root causes, behavioural indicators, conflicts of interest, and opportunities for management override.
  • Developing fraud risk registers, risk maps, assessment criteria, and risk ownership assignments.
  • Prioritizing fraud exposures based on financial, operational, regulatory, and reputational consequences.
  • Practical Exercise: Conduct a fraud risk assessment for a selected business process and prepare a risk register with prioritized fraud scenarios and control gaps.
Day 3

Anti-Fraud Programme Design and Control Development

  • Defining the objectives, scope, governance structure, and operating principles of an anti-fraud programme.
  • Designing fraud prevention controls, including segregation of duties, authorization, access restrictions, and independent review.
  • Developing detection controls through transaction monitoring, data analysis, reconciliations, exception reporting, and targeted audits.
  • Establishing anti-fraud policies covering conflicts of interest, gifts and hospitality, third-party relationships, and management override.
  • Designing confidential reporting channels, whistleblowing procedures, escalation protocols, and protection against retaliation.
  • Establishing investigation procedures, evidence handling requirements, case documentation, and corrective action processes.
  • Practical Exercise: Design an anti-fraud programme framework for a selected organization, including policies, preventive and detective controls, reporting channels, and accountability arrangements.
Day 4

Implementation, Testing, and Effectiveness Evaluation

  • Translating the anti-fraud framework into implementation plans, assigned responsibilities, milestones, and resource requirements.
  • Mapping anti-fraud controls to identified fraud scenarios, risk owners, and organizational processes.
  • Assessing control design and operating effectiveness through walkthroughs, sampling, testing, and evidence review.
  • Using data analytics and exception monitoring to identify suspicious transactions, unusual patterns, and potential control circumvention.
  • Establishing training, awareness, communication, and role-specific anti-fraud competency requirements.
  • Coordinating management, compliance, risk management, internal audit, and investigation functions while maintaining appropriate independence.
  • Practical Exercise: Evaluate a sample set of anti-fraud controls, document testing results, and develop corrective actions for identified weaknesses.
Day 5

Monitoring, Reporting, and Continuous Improvement

  • Establishing ongoing monitoring and periodic evaluation of anti-fraud programme performance.
  • Developing key risk indicators, key control indicators, and performance measures for fraud risk management.
  • Preparing fraud risk dashboards and reports for executive management, the audit committee, and the board.
  • Reviewing fraud incidents, investigation findings, root causes, and lessons learned to improve controls.
  • Assessing programme maturity, residual risk, emerging threats, and changes in the operating environment.
  • Developing a continuous improvement cycle covering policy updates, control enhancements, accountability, and periodic reassessment.
  • Practical Exercise: Prepare an anti-fraud programme implementation roadmap with prioritized actions, responsible owners, monitoring indicators, reporting arrangements, and review milestones.

Upcoming Dates

Selected date

Amsterdam · 1 – 5 Feb 2027 · Classroom

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IstanbulScheduled
2 – 6 Nov 2026€4,700—
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JeddahScheduled
8 – 12 Nov 2026€4,200—
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Kuala LumpurScheduled
16 – 20 Nov 2026€4,400—
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KigaliScheduled
16 – 20 Nov 2026€5,100—
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LisbonScheduled
23 – 27 Nov 2026€5,400€4,860until 2 Nov
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LondonScheduled
30 Nov – 4 Dec 2026€5,600€5,040until 9 Nov
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MadinahScheduled
30 Nov – 4 Dec 2026€4,200€3,780until 9 Nov
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MadridScheduled
7 – 11 Dec 2026€5,400€4,860until 16 Nov
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MakkahScheduled
14 – 18 Dec 2026€4,200€3,780until 23 Nov
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ManamaScheduled
14 – 18 Dec 2026€4,700€4,230until 23 Nov
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MarbellaScheduled
21 – 25 Dec 2026€5,400€4,860until 30 Nov
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MuscatScheduled
28 Dec 2026 – 1 Jan 2027€5,300€4,770until 7 Dec
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OnlineScheduled
3 – 7 Jan 2027€1,700€1,530until 14 Dec
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ParisScheduled
4 – 8 Jan 2027€5,700€5,130until 14 Dec
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SingaporeScheduled
11 – 15 Jan 2027€6,700€6,030until 21 Dec
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AbujaScheduled
18 – 22 Jan 2027€5,100€4,590until 28 Dec
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AccraScheduled
18 – 22 Jan 2027€5,100€4,590until 28 Dec
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AmmanScheduled
24 – 28 Jan 2027€3,100€2,790until 4 Jan
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BakuScheduled
1 – 5 Feb 2027€4,800€4,320until 11 Jan
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AmsterdamScheduled
1 – 5 Feb 2027€5,400€4,860until 11 Jan
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BarcelonaScheduled
8 – 12 Feb 2027€5,400€4,860until 18 Jan
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BeirutScheduled
14 – 18 Feb 2027€4,000€3,600until 25 Jan
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CairoScheduled
21 – 25 Feb 2027€3,300€2,970until 1 Feb
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Cape TownScheduled
22 – 26 Feb 2027€5,100€4,590until 1 Feb
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CasablancaScheduled
1 – 5 Mar 2027€4,300€3,870until 8 Feb
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DammamScheduled
7 – 11 Mar 2027€4,200€3,780until 15 Feb
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DohaScheduled
7 – 11 Mar 2027€4,400€3,960until 15 Feb
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DubaiScheduled
14 – 18 Mar 2027€4,400€3,960until 22 Feb
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ErbilScheduled
21 – 25 Mar 2027€3,100€2,790until 1 Mar
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GenevaScheduled
22 – 26 Mar 2027€6,300€5,670until 1 Mar
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Available in: Istanbul · Dubai · London · Doha · Amsterdam

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