Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
Effective fraud risk management requires an integrated approach. Too often, businesses implement some helpful practices, but overlook other principles that ensure the full spectrum of their unique risks is addressed. This course uses a holistic approach that brings together key principles and practices using the COSO Fraud Risk Management Framework.
This course provides participants with an understanding of fraud and the basic tools to undertake a fraud risk assessment. Using “real life” examples of fraud in the materials provided as well as examples based on instructor experiences, participants will gain an understanding of fraud, the risks it poses to an organization and the need to manage that risk. Case discussions, sample codes of conduct, fraud policies, fraud risk checklists, numerous examples and other practical materials including discussion of ethics within an organization will help participants build a corporate culture and fraud risk management framework that prevents and detects fraudulent activity.
Topics Include:
- Why fraud risks need to be managed
- COSO Fraud Risk Management Framework
- Principle 1: Governance - creating an ethical environment: discussion about codes of conduct, fraud policies, hotlines, ethics training, employee declarations, and other practices.
- Principle 2: Comprehensive fraud risk assessment: fraud indicators and red flags, and a series of fraud risk assessment cases.
- Principle 3: Preventive and detective fraud control activities: a high-level overview of potential controls.
- Principle 4: Fraud investigation protocol: high-level overview of how to properly react to fraud, investigation considerations, taking corrective action and fidelity insurance matters.
- Principle 5: Fraud risk management monitoring: ongoing evaluation and timely communication, with an introduction to data analytics.
Please note here is some overlap between this course and Fraud Happens: What to Do When You Suspect Fraud, which focuses on COSO Principle 4 and goes into much more detail about relevant investigative tools and techniques to perform investigations.
NOTE: This course description has an addendum update for 2025. If you have any questions, please contact pdevents@cpaontario.ca.
Schedule
- December 8, 2025, 8:30 a.m. - 12:30 p.m.
- December 9, 2025, 8:30 a.m. - 12:30 p.m.
Key Takeaways
By the end of this course, participants will be able to:
- Describe what fraud is and why it poses a risk to every organization.
- Identify potential indicators of fraud.
- Describe the five key elements of the COSO Fraud Risk Management Framework.
- Prepare a basic fraud risk assessment.
Who Will Benefit
CPAs in industry who require knowledge of potential fraud indicators in their transaction streams, and how to develop an integrated approach for effective fraud risk management, and public practitioners who want to better identify indicators of potential fraud which can assist in the conduct of an effective audit.
Disclaimer
The views expressed in the course are non-authoritative and have not been formally endorsed by CPA Ontario and do not reflect the views of CPA Ontario. The information included in the course if for general information purposes only.
CPA Ontario, the presenters and the authors do not accept any responsibility or liability that might occur directly or indirectly as a consequence of the use or application of or reliance on this material.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Mark Grenon, CPA, CA, IFA, CFF, CFE is a forensic accounting specialist working with the Federal Government’s Forensic Accounting Management Group (“FAMG”). Since joining FAMG in 2003, Mark has been assigned to work with the RCMP, CBSA, DND, and other government departments providing expert witness reports and testimony on criminal cases involving money laundering, proceeds of crime, fraud, ponzi schemes, and bribery of foreign government officials. Mark obtained his Chartered Accountant designation in 2002, and prior to his career as a forensic accounting he worked with Ernst and Young’s bankruptcy, taxation and public accounting groups. Mark is a regular instructor at the Canadian Police College and has testified as a forensic accounting expert witness in the Ontario Court of Justice, the Ontario Superior Court, Immigration and Refugee Board, and the Quebec Courts.