Description

Fraud Risk Assessment: A Practical Guide for Internal Auditors – Video Course includes online videos and a self-study manual for 2.5 hours of CPE credit.

Fraud risk is evolving faster than many organizations can keep up with, and internal auditors are increasingly expected to anticipate, recognize, and evaluate the schemes that threaten operations, reputation, and financial stability. This video self-study course provides a clear, practical roadmap for understanding how to use fraud risk to develop a fraud risk assessment process.  Participants will be equipped with a structured, repeatable approach to fraud risk assessment that aligns with professional standards and adapts to emerging risks. You will gain insight into the role of internal audit within the three-lines model and how auditors contribute to prevention, detection, and response. A major portion of this video course is devoted to building a comprehensive fraud risk assessment. Through a step-by-step framework, learners will construct a fraud risk universe, evaluate inherent risk, identify and map anti-fraud controls, assess control effectiveness, and ultimately calculate residual risk. Detailed examples illustrate how to move from theory to practice, how to apply consistent scoring methods, and how to challenge the results using critical thinking rather than relying solely on numerical formulas. This program is ideal for auditors seeking to strengthen their fraud knowledge, improve their organization’s risk posture, and apply a practical assessment method immediately. Course objectives include:

• Identify the core characteristics of fraud using the Institute of Internal Auditors’ definition
• Describe the role of internal audit in detecting, assessing, and responding to fraud risks within the three-lines model
• Identify techniques for building a fraud risk universe using multiple input sources
• Identify the steps in conducting a complete fraud risk assessment
• Identify anti-fraud internal controls relevant to specific risks and map those controls to corresponding fraud schemes
• Distinguish among four risk-treatment strategies

CPE Credit Hours: 2.5 NASBA Category of Study: Auditing (Governmental) Program level: Basic Prerequisites: None Advance preparation: None Who should attend: Auditors Instructional method: Video with online qualified assessment. QAS SS Author: Elizabeth McDowell, CPA, CIA This course is also included in the Fraud Bundle. Questions? You can find our FAQ here and our policies here.