Fraud & Corruption Riskability® Workshop

Risk Management, Corporate Governance & Compliance all play a key role in identifying those elements of a business' or government's activities most vulnerable to fraud, corruption & financial crime. The recent credit and financial crisis proved once again that with the historic approach to Risk Management, risks are often recognized, only when it is too late to take any effective action. There needs to be a better way of recognizing & dealing with risk earlier & more effectively. In other words the 'Riskability' approach, involving:
  • Retroactive identification of Corporate Governance, Risk Management and Compliance (GRC) issues. When a key risk has crystallized and had an adverse impact, the question must be 'could the risk not have been predicted?'
  • Focus on identifying the events that create risks, & attempts to identify them early.
  • Extends to the creation of a roadmap, framework, exercise and integration, thus enabling the enterprise to embed a proactive approach to its structured fraud risk management activities

Failure to identify significant 'Bad' risk should not be allowed to happen, however Riskability recognizes and permits the option to take calculated risks. The concept of risk has the advantage of being applicable to both continuing events and to single events. If the risk was not predictable, how can it be possible to determine how to prevent it?

Attend the interactive practical Fraud & Corruption 'Riskability' workshop & discussion to:
  • Understand the Enterprise Governance, Risk and Compliance Management (EGRCM) methodology and solutions to proactively tackle fraud in your organisation.
  • Achieve significant and material answers on areas such as competition and strategic advantages, operational & financial risk management, automation through information/IT controls, regulatory compliance creates stakeholder value.
  • Enhance strategic thinking, tactical planning, and actionable initiatives on how you can develop in house fraud 'riskability'-focused programmes to address corporate regulatory issues, enterprise risk exposures & governance improvements to meet shareholder expectations.
  • Share experiences & guidance from broad industry segments learning from internationally accepted best practices.
  • Hear specific insights on how to develop & implement an action plan for developing GRC programs that reflect current trends for future benefit.
  • Learn about specific mechanisms by which corporate governance impacts the various types of economic crime such as accounting fraud, insider trading and self-dealing which affect business operation.
  • Facilitate transparency of information flows to the board and stakeholders related to controls and disclosures.

The Riskability® solution fights Fraud and Corruption by;
  • Reducing the likelihood of fraud and corruption occurrences by taking a coordinated monitoring and controlling approach to managing the consequences.

The Riskability® strategy and approach includes fraud and corruption schemes in the Riskability® control framework including;
  • How to create a culture that recognizes the need of zero-tolerance course of action, on all fraud and corruption incidents.
  • How to ensure continued management commitment to the root causes
  • How to leverage the corporate guiding principles, that promote a high level of awareness that encourages and identifies the 'red flag' indicators of fraud and corruption.

The implementation cost and measures to prevent and detect fraud is insignificant compared to the cost of investigating fraud and corruption incidents. Riskability compliance to fraud and corruption mandates is a necessary cost of doing business from a social, ethical and reputational standpoint

In today's globalised economy, fraud and corruption can easily set off a chain of events resulting in serious financial and reputational loss for the corporation.

There is growing consciousness that crimes related to fraud and corruption issues, undermine the trust in government, companies, and markets alike. Corporations not only must recognize the problem, but set out clear ways and means for dealing with both issues.
  • Riskability is a methodology for those seeking to manage fraud and corruption risks by providing an operational roadmap for assessing, preventing, detecting, and responding to fraud and corruption risks, when they occur.
  • Riskability methodology offers a holistic approach to the management of fraud and corruption risk and its relationship to productivity, profitability and conventional Governance and Compliance processes.
  • The Riskability approach explains why fraud and corruption are serious issues for organizations.
  • The Riskability approach clarifies how to prevent and detect the devastating fallout from fraud and corruption crimes.

Riskability manages the relationships among the board of directors, the audit committee, senior management, and staff in the process of fraud and corruption management, offering clear guidance to avoid future fraud and corruption occurrences.

Your Workshop Leaders are:
Frank Hailstones is internationally recognized as a speaker on such topics as fighting fraud, embedding risk management, effective Corporate Governance and continuous monitoring/auditing. He has conducted over 350 successful risk management facilitations and has extensive experience on Consulting (Strategic and Operational), and Internal Audit (he was an Internal Audit Director for multiple outsourced internal audit appointments in both the private and public sectors). Prior to co-founding CAMSoft in 2008, Mr. Hailstones spent 6 years in the USA building up a risk management and compliance solutions business, and eighteen years with PricewaterhouseCoopers, 13 of which as a Partner. In the USA, he worked with national and international organizations designing and building risk management solutions and is a regular presenter on the international conference circuit on risk management and compliance. During his tenure at then PwC, he ran the Government practice in the UK, then the Internal Audit (IA) practice, building up the Europe, Middle East and Africa (EMEA) Team and network in 12 countries. He also led the development of technology support for Business Risk Management, and personally facilitated some 350 Business Risk assignments / workshops.

Kersi Porbunderwalla is a Regulatory Governance, Risk Management and Compliance (GRC) professional focusing on frameworks, policies and procedures to ensure effective compliance with FSA, EU directives, Stock Exchange and other Regulatory authorities. For the past 15 years Kersi has gathered an in depth knowledge, experience and background in structuring and developing the objectives to achieve a state-of-the-art control and risk assessments programs: from 1997 to 2005 as Business Controller for ExxonMobil. Since 2005 Kersi has focused his efforts on GRC issues as an independent GRC consultant for a number of international companies. As a GRC consultant he has been a project lead in SOX, Riskability® EuroSox®, ISO implementations and given key note speeches and conducted workshops on 4 continents. These regulatory projects included identification of business and IT risks, development of business and IT processes, tests for risk mitigation and finally achieving certification for Governance, Regulatory Risk and Compliance implementations. His initial decade long experience in accounting and finance is instrumental in analyzing and identifying key control weaknesses. The ability to see the bigger picture of events is the primary rationale to provide recommendations and follow-up of GRC and control weaknesses.

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