Management Concepts

Overview of gao Requirements for Fraud, ERM, and Internal Control

Available dates

Dec 6, 2019
Washington, District of Columbia, United States
USD 479
USD 479 per day
Jan 16, 2020
Albuquerque, New Mexico, United States
USD 479
USD 479 per day
Feb 20, 2020
Washington, District of Columbia, United States
USD 479
USD 479 per day
+11 more options

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About the course

Course participants will understand how to develop more effective ERM systems which improve the current internal control environment across an organization’s programs, operations, and acquisitions. Participants will understand how effective internal control impacts accountability of programs, the resolution of material weaknesses, and auditability of financial statements. Participants will be exposed to the complexities of developing an effective enterprise-wide risk assessment; a critical component in the achievement of mission success. Issues surrounding improper payments and identifying waste, fraud and abuse of federal resources, including the GAO Fraud Risk Management framework are also discussed.

Learning Objectives

  • Comprehend GAO’s Green Book Enterprise Risk Management (ERM) Framework
  • Explain OMB's guidelines for managing an effective ERM program, including how to develop risk profiles
  • Explain connection between effective ERM and Internal Control System
  • Describe the Government Accountability Office’s (GAO) Internal Control Standards used to create an effective internal control system
  • Describe Office of Management and Budget Requirements for Internal Control
  • Explain requirements and steps for developing and tracking a corrective action plan (CAP)
  • Explain the Fraud triangle and increasing importance of fighting fraud within the Federal government
  • Explain the federal laws, auditing standards, and control techniques that are relevant to fraud detection, and understand control measures to counteract fraud
  • Identify indicators for heightened fraud risk and assess risks present through internal control deficiencies

Course Topics

Effective Enterprise Risk Management Framework

  • GAO’s ERM Framework
  • OMB’s Guidance on Developing Risk Profiles
  • Creating a Risk Mitigation Plan
  • Prioritizing Risk

Overview of Internal Control

  • Internal Control Benefits
  • OMB Internal Control Requirements
  • Developing and Tracking a CAP

Fraud: Detection and Prevention

  • Explain the Fraud Triangle
  • The Laws and Standards to Counteract Fraud
  • Explaining Fraud Schemes and Internal Control Countermeasures
  • Fraud Detection and Evidence Gathering

Who should attend

This course is intended for Mid to Senior level managers.

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