Fraud Risk Assessment and Anti-Fraud Control Design Training Course

Programme Summary

Fraud risk assessment and anti-fraud control design are the subject of this five-day training course for risk, finance, audit and control leaders at managerial level, ending in a fraud risk and control plan for one business process. Fraud exposure is often assumed rather than assessed, and controls are added after losses surface. The programme moves from principles, through diagnosis of exposure in real processes, to design of controls and response routes, then to application on one process. Mars Training Centre UK delivers this fraud risk assessment programme for organisations that need a structured and defensible approach.

The Business Case

Organisations that assess fraud risk by scheme and process can place controls where losses are most likely, and can show boards and assurance providers why those controls exist. Without that discipline, effort follows habit, duplicated approvals slow work and gaps stay open in areas such as payments, procurement and payroll.

• Fraud Exposure: Falls as controls are matched to specific schemes and tested.
• Control Efficiency: Improves as duplicated checks are removed and effort follows scored risk.
• Detection Speed: Rises as red flags and reporting channels are defined before an incident.

Principles and Evidence Base

• COSO and ACFE Fraud Risk Management Guide: It structures fraud risk governance, assessment, control, response and monitoring across Sessions 1 to 4.
• COSO Internal Control Integrated Framework: Its principle on considering the potential for fraud frames the assessment method in Session 2.
• Fraud triangle model: It frames the pressure, opportunity and rationalisation analysis in Sessions 1 and 2.

Intended Participants

• Risk managers who own the fraud risk assessment.
• Finance and accounting leaders who design and review financial controls.
• Internal audit and compliance staff who test controls and follow up allegations.
• Process owners in payments, procurement, payroll or customer operations who accept control responsibility.

The programme serves banking, healthcare, construction, energy and public service organisations, and suits mixed groups.

Learning Outcomes

1. Participants will be able to evaluate how fraud risk is addressed in an existing risk and control framework.
2. Participants will be able to diagnose fraud exposure in a process using schemes, red flags and scoring.
3. Participants will be able to construct preventive and detective controls matched to identified schemes.
4. Participants will be able to prioritise fraud risks for treatment using inherent and residual scores.
5. Participants will be able to justify a reporting and response route for suspected fraud.
6. Participants will be able to design a fraud risk and control plan for one business process.

Programme Structure

Day 1: Fraud Risk Assessment Principles

How does fraud arise, and where does it sit within risk and control?

• COSO and ACFE Fraud Risk Management Guide Map
• COSO Internal Control Integrated Framework Components
• Fraud Triangle Pressure Opportunity Rationalisation Model
• Fraud Scheme Taxonomy
• Fraud Risk Governance Role Matrix

Day 2: Diagnosing Fraud Exposure in Processes

Which processes and schemes expose the organisation most today?

• Process Walkthrough Interview Guide
• Fraud Risk Brainstorming Session Format
• Inherent Risk Scoring Matrix
• Red Flag Indicator Catalogue
• Control Gap Heat Map

Day 3: Designing Anti-Fraud Controls

Which preventive and detective controls answer each scheme?

• Segregation of Duties Conflict Matrix
• Approval Limit and Authority Table
• Preventive and Detective Control Selection Grid
• Data Analytics Test Library
• Control Ownership and Evidence Sheet

Day 4: Detection, Reporting and Response Design

How are suspicions raised, assessed and acted on fairly?

• Whistleblowing Channel Design Checklist
• Allegation Triage Decision Tree
• Investigation Referral Protocol
• Corrective Action Tracker
• Fraud Awareness Briefing Outline

Day 5: Applying the Fraud Risk Plan to One Process

Is the fraud risk plan ready for use by one process owner?

• Applying the Session 2 Scoring Matrix to the Chosen Process
• Testing the Session 3 Controls Against Sample Schemes
• Running the Session 4 Triage Tree on Sample Allegations
• Reviewing the Session 3 Evidence Sheet with Process Owners
• Completing the Fraud Risk and Control Plan

Methodology

The programme uses a structured exercise method built on anonymised process maps, fraud scheme descriptions and control documents from several sectors. Participants map schemes to processes in small groups, score exposure, select controls and test them against sample cases, with feedback from peers. Discussion centres on whether each control would stop or reveal a given scheme.

• Suggested activity: Walking through a payment process and listing the schemes it allows.
• Suggested activity: Scoring a set of fraud risks and challenging the scores in pairs.
• Suggested activity: Triaging sample allegations against a decision tree.

Capstone Output

Each participant completes a fraud risk and control plan for one business process. It holds a scheme list, scored fraud risks, a red flag catalogue, a control matrix with owners and evidence, a reporting route and a response tracker. The plan is used to brief the process owner, agree control changes and give assurance providers a clear view of coverage.

Frequently Asked Questions

Is fraud risk assessment training suitable for managers without an audit background?

Yes. Fraud risk assessment training starts from business processes and assumes responsibility for risk or controls, not an audit or forensic qualification.

Which frameworks does fraud risk assessment rest on?

Fraud risk assessment rests on the COSO and ACFE Fraud Risk Management Guide, the COSO Internal Control Integrated Framework and the fraud triangle model.

How is the plan from fraud risk assessment training used at work?

You use the fraud risk and control plan to brief the process owner, agree control changes, set reporting routes and show assurance providers how risks are covered.

How does fraud risk assessment training differ from a programme on fraud investigation?

Fraud risk assessment training centres on preventing and detecting fraud through scored risks and controls, while a fraud investigation programme centres on gathering evidence after an allegation.