Fraud at the workplace: Here’s a special course to help you tackle scams

Kasneb has introduced a course to help institutions in the battle against occupational fraud. This is largely in an effort to prevent white-collar crime.

The Certified Forensic Fraud Examiner (CFFE) course develops professionals who can investigate, detect, and help deter fraudulent activities, as well as gather evidence and write reports to support the prosecution of suspected fraud.

Broadly, this discipline is critical in these instances: Corporate investigations in cases of possible wrongdoing; litigation support in civil or criminal matters; insurance claims; and regulatory or contractual compliance.

The course imparts the knowledge, skills, values and attitudes that professionals need to successfully execute these tasks.

Employability

Certified Forensic Fraud Examiners (CFFEs) can work in a diverse range of institutions. They can be employed by businesses, organisations, or government. They can also provide services as independent consultants.

As fraud becomes more widespread, these professionals will be in demand. Their strength lies in their financial expertise, fraud knowledge (including of the fraud cycle), understanding of business dynamics, and a good grasp of how the legal system works.

Modules

The CFFE is administered in three modules, with an integrated case study and workshop at the end of the course. Each module is expected to last three months. Examinations for the course will be administered three times in a year. Thus, the course is meant to last on average, one year.

This timely course comes when the country is witnessing worrying levels of corruption and scams.

The course is aimed at persons who wish to qualify and work or practice in the fields of financial fraud and corruption investigations, fraud prevention, fraud risk analysis, and related areas.

Entry requirements

The minimum entry requirement to pursue the CFFE course is Kasneb professional qualification, or Bachelor’s degree from a recognised university, or any other qualification considered equivalent to the above.

The course can be pursued through tuition-based learning or self-study. Thus, students can choose how they want to study, based on their situation.

Firms have different ways they use to protect themselves from becoming victims of fraud. Nowadays, one of the solutions firms are turning to is the engagement of CFFEs. These professionals help monitor and detect fraudulent activities within the organisation.

The losses that firms can suffer from fraudulent activities can be astounding. In particular, small and medium enterprises (SMEs) are more vulnerable to occupational fraud and abuse, and may need the services of CFFEs.

Rich in content

The kasneb course is rich in content. It addresses the various areas that CFFEs need to be well versed in to credibly perform their job.

They need a good understanding of financial and forensic accounting and audit. They can use the knowledge, skills and attitudes they have acquired to undertake fraud investigations.

The course will also help them identify schemes and categories of fraud, the red flags, and the preventive and detective measures and procedures related to the various fraud schemes.

Further, CFFEs will gain a good understanding of the laws that will guide them during fraud investigations.

Yet another module equips learners with knowledge, skills and attitudes that will enable them to apply the principles of the law of evidence in fraud/corruption investigations, and have good understanding of the court trial processes.

Another module helps trainees to effectively plan for and conduct fraud investigations, and to prepare comprehensive reports.

Yet another enables them to effectively prevent and detect fraud in various settings. The trainees will also be able to develop and implement an effective fraud risk management programme.

At the end, they sit their ninth paper and attend workshops to enable them develop competencies to handle real-life situations or simulation of actual work environment requiring fraud investigations. The workshop(s) will also enable the candidate to interact with practitioners in the industry, share experiences, and enhance their soft skills.

The integrated case study covers prevention and detection of fraud; and how to respond to fraudulent and corrupt activities.

The workshops focus prevailing fraud and corruption trends, as well as best practice in fighting the same.

After completing the course, CFFEs are expected to professionally carry out the following:

• Apply analytical techniques in fraud detection
• Design and implement preventive and detective controls
• Apply and ensure compliance with the appropriate laws in fraud investigations
• Apply the burden and standards of proof in civil and criminal proceedings
• Apply the various methods and techniques of conducting fraud investigations
• Write standard investigations and expert witness reports
• Develop fraud prevention programmes
• Conduct a fraud prevention health check-up
• Develop and implement a fraud risk management programme.

For more information about the CFFE course, visit the kasneb website: www.kasneb.or.ke