Overview:
There are several keys to effective fraud prevention, but some of the most important tools in the corporate toolbox are strong internal controls. Equally important, though, are the company’s attitude towards fraud, internal controls and an ethical organizational culture. While ethical culture is driven by senior management’s control environment (“tone at the top”), buy in from the company’s Board of Directors and Audit Committee are also essential in promoting an ethical and transparent environment. Although no company, even with the strongest internal controls, is immune from fraud, strengthening internal control policies, processes and procedures definitely makes companies a less attractive target to both internal and external criminals seeking to exploit internal control weaknesses.
Learning Objectives:
This forum will give focus on strengthening internal controls in organizations and also;
- Find out how fraud can occur and the red flags of fraud pertaining to the different core business functions, namely: Procurement & disbursement, Sales & cash receipts, Payroll & human resources, Inventory & fixed assets management
- Apply the tools and techniques to identify potential deficiencies in the various core business functions
- Determine how to prevent and detect fraud for the identified fraud relating to the various core business functions
- Learn how to integrate the internal controls approach into fraud risk management
- Recognize what constitute an anti-Fraud culture & general anti-fraud controls
- Define the key elements of the control environment relating to managing fraud risk
- Identify elements of an effective antifraud program
- Evaluate the effectiveness of antifraud measures
- Practice developing a Fraud Risk Register for your organization
- Learn how to quantify fraud risk, identify possible fraud perpetrators and responsible key parties in managing identified fraud risk
Who should attend:
Finance professionals, internal audit professionals, risk managers, compliance and legal officers, management & executive staff who have the interests of their company at heart and anyone curious about Fraud Risk Management.
Forum Charges:
The forum will be held on Wednesday, 30th March 2016 in Nairobi from 5.30pm to 8.30pm at Nairobi Safari Club. Members in attendance will be awarded 3 CPD Hours. Charges are Kshs.2, 000 for members and Kshs. 2,500 for non members.
