Internal Controls and Financial Fraud training develops the expertise finance, audit, and compliance teams need to protect organizations from financial loss and reputational damage. This program teaches how to design and test control systems, uncover weaknesses, and build defenses that deter fraud. Using case studies, interactive discussions, and practical exercises, participants learn to apply regulatory requirements and best practices in real-world scenarios. Upon successful completion of the training, participants will be awarded a certificate of course completion.

Course Objectives

By the end of this Internal Controls and Financial Fraud training course, participants will be able to:

• Understand the fundamental principles of internal controls
• Design and evaluate control systems aligned with organizational goals
• Identify and assess key fraud risks in financial operations
• Apply best practices in fraud prevention, detection, and investigation
• Strengthen organizational governance and ethical frameworks

Target Audience

• Treasury and finance managers
• Internal auditors and compliance officers
• Finance and accounting professionals
• Risk management officers
• Senior managers and executives
• External auditors and consultants

Training Duration

Classroom: 5 Days

Online: 7 Days

Course Modules

Module 1: Fundamentals of Internal Controls

• Objectives and importance of internal controls
• Components of an effective internal control framework (COSO model)
• Roles and responsibilities in control implementation
• Control environment and control activities

Module 2: Control Risk Assessment and Mapping

• Identifying key risk areas across business functions
• Risk assessment techniques and prioritization
• Designing controls based on risk exposure
• Control matrices and risk-control mapping

Module 3: Fraud Risk Management

• Types of fraud: asset misappropriation, corruption, financial statement fraud
• Fraud triangle and behavioral red flags
• Common fraud schemes and how they operate
• Industry-specific fraud risks (e.g., procurement, payroll, revenue recognition)

Module 4: Designing and Implementing Anti-Fraud Controls

• Preventive vs. detective vs. corrective controls
• Segregation of duties and approval hierarchies
• Technology-driven controls (e.g., automated alerts, audit trails)
• Whistleblower mechanisms and incident reporting

Module 5: Monitoring and Evaluating Controls

• Continuous monitoring and control testing
• Key control indicators (KCIs) and performance metrics
• Internal audit’s role in control assurance
• Reporting control weaknesses and follow-up

Module 6: Conducting Fraud Investigations

• Investigation planning and protocols
• Evidence collection and documentation
• Interviews and fraud interrogation techniques
• Working with external parties (legal, forensic, law enforcement)

Module 7: Governance, Ethics and Organizational Culture

• Embedding ethics in operations
• Code of conduct and employee training
• Leadership’s role in driving accountability
• Case studies of governance failures and lessons learned

Module 8: Technology and Internal Controls

• Role of data analytics in fraud detection
• Use of ERP and internal control software
• AI and automation in control monitoring
• Cybersecurity controls in financial operations

Delivery Method

This program is taught through a mix of practical activities, theory, group work and case studies. Training manuals and additional reference materials are provided to the participants.

CERTIFICATION

Upon successful completion of the training, participants will be awarded a certificate of course completion

Course Booking

Please use the “book now” or “inquire” buttons on this page to either book your space or make further enquiries