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Certified Fraud Risk Manager | CFRM
The Certified Fraud Risk Manager (CFRM) certification is a professional certification program that focuses on providing individuals with the skills and knowledge needed to effectively manage and mitigate fraud risks in their organizations. As fraud continues to be a significant threat to organizations of all sizes and industries, the demand for professionals with fraud risk management skills is expected to increase in the future.
The CFRM certification is provided by the Global Association of Business & Management (GABM.us), which is based in the United States and specializes in membership and professional certifications for the business and management field.
STUDY TOPICS
A Certified Fraud Risk Manager (CFRM) certification typically covers a range of topics, as per the following:
- Fraud – its extent, patterns, and causes
- Risk management – an overview
- Fraud prevention
- Fraud detection
- Responding to fraud
- Fraud and the law
- Examples of common types of internal fraud
- Example of a risk analysis
- A sample fraud policy
- Sample whistleblowing policy
- Examples of fraud indicators, risks, and controls
- A 16-step fraud prevention plan
- Outline fraud response plan
- Example of a fraud response plan
Benefits of CFRM
- Ability to identify and mitigate fraud risks
- Knowledge of emerging fraud trends and threats
- Familiarity with forensic accounting and auditing techniques
- Ability to conduct effective fraud investigations
- Expertise in fraud risk assessment and management methodologies
- Strong knowledge of anti-fraud regulations and laws
- Skill in using technology and data analytics for fraud prevention
- Improved critical thinking and problem-solving abilities
- Ability to develop and implement effective fraud prevention programs
- Strong understanding of ethical considerations in fraud risk management
- Ability to communicate complex fraud-related issues to stakeholders
- Improved professional credibility and recognition
Learning Outcomes
- Understanding of fraud risk management concepts and principles
- Knowledge of fraud prevention and detection techniques
- Ability to assess and manage fraud risks
- Knowledge of relevant legal and regulatory frameworks
- Skill in conducting fraud investigations and remediation
- Familiarity with forensic accounting and auditing methodologies
- Ability to analyze data for fraud detection and prevention
- Strong understanding of professional ethics and conduct
- Familiarity with emerging fraud trends and threats
- Ability to develop and implement effective fraud prevention programs
- Skill in communicating fraud-related issues to stakeholders
- Enhanced critical thinking and problem-solving abilities
EXAM DETAILS
- Only 60 Multiple Choice Questions
- The passing score is 70% or higher
- The exam duration is 120 minutes
- Retake the exam unlimited times within 90 days
- No additional charges for retaking the exam
WHO ARE INTERESTED?
- Risk management professionals
- Fraud prevention professionals
- Auditors and investigators
- Compliance officers
- Finance professionals
- Legal professionals
- Business managers
- Law enforcement professionals
- Legal professionals
FACTS
The CFRM certification has the potential to advance the fraud risk management field as a whole. As the curriculum is continuously evolving to stay current with industry trends and new developments in fraud detection and prevention, those who hold the certification will be better equipped to effectively manage fraud risks and protect their organizations from harm.
Overall, the future of the CFRM certification is bright, and its impact on the future of fraud risk management is expected to be significant. By providing individuals with the skills and knowledge needed to effectively manage fraud risks, the certification is helping to create a more secure and trustworthy business environment for all.