Fraud Risk Management and Assessment

  • Friday, May 29, 2020

    10:00am – 11:49am
  • 2
    Auditing (Governmental), Accounting (Governmental)

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) began its existence with a focus on fraud.  Soon, however, COSO shifted its attention to internal controls.  ALL publicly-traded US companies (as well as most other organizations around the world) follow the COSO Internal Control Framework (ICF), initially published in 1992.  COSO returned to its fraud-focused roots when it revised the ICF in 2013.  COSO added 17 important principles, including Principle 8: The organization considers the potential for fraud in assessing risks to the achievement of objectives.  In response to COSO-follower needs for further guidance on assessing fraud risk, COSO (along with the ACFE) published a new Fraud Risk Management Guide in September 2016.  This course will explain what this new fraud risk management guidance requires, what it portends for accountability professionals working for corporations and other organizations, and what it will mean for auditors.  Every organization that uses the COSO ICF will benefit from this course on this important new guidance.


* Understand the background and history of COSO's Internal Control Framework and the new Fraud Risk Assessment requirement

* Understand the format and content of the new COSO/ACFE Fraud Risk Management Guide

* Understand how to conduct a comprehensive fraud risk assessment

* Consider the future possibilities related to managing fraud risk


* Committee of Sponsoring Organizations (COSO) of the Treadway Commission

* COSO's Internal Control--Integrated Framework

* Fraud risk governance

* Assessing fraud risk

* Fraud Control Activities

* Fraud reporting, investigation, and followup

* Fraud Risk Management monitoring

* Implications for auditors

Additional Information

Designed For

Internal and external auditors at all levels; accountants and risk management professionals at all levels



Advanced Preparation



1.00 Auditing/Yellow Book

1.00 Accounting/Yellow Book



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