Fraud Prevention: Internal Controls & Segregation of Duties

Fraud Prevention: Internal Controls & Segregation of Duties

This Fraud Prevention: Internal Controls & Segregation of Duties course walks you through the internal controls that keep one person from having too much power over finances moving through a business. It is built for anyone who wants practical fraud prevention and segregation-of-duties training, not just theory. Many fraud cases start the same way: a single employee handles approval, recordkeeping, and asset custody, with no one checking their work. This course covers why regulations such as Sarbanes-Oxley and the COSO framework exist, and how gaps in IT access controls, such as the one behind the Colonial Pipeline breach, expose entire systems to attack.

You will learn the ARC framework step by step, separating authorization, record keeping, and custody across different roles. The training also covers approval thresholds, three-way matching between purchase orders and invoices, audit trail design, and monitoring tools used in real compliance and audit work. Real fraud cases anchor the training, from a municipal clerk who hid a $53 million theft for over 20 years, to a freight company that redesigned its workflow to close a dangerous overlap in duties.

By the end of this course, you can build fraud-resistant workflows, set sensible approval limits, and spot the internal control weaknesses that auditors look for. It suits compliance officers, internal auditors, finance managers, and operations staff who need hands-on training in fraud prevention and internal controls.

In this course, you will learn how to:

• Construct workflows separating authorization, record keeping, and custody.
• Implement fraud controls to block ghost vendors and invoice slicing.
• Establish tiered approval thresholds for transaction risk management.
• Review IT general controls to strengthen system access security.
• Identify duty overlaps in business processes for fraud prevention.
• Redesign workflows to restore the effectiveness of segregation of duties.
• Perform periodic testing of internal control compliance.
• Set up continuous monitoring for real-time control surveillance.
• Fix broken internal controls and adapt fraud policies.
• Evaluate leadership integrity to strengthen the control environment.
• Foster psychological safety for reporting suspicious financial activity.
• Enforce accountability for control violations across all levels.

Course Format

• This is a video-led course. You can preview some videos below.
• This course includes practice exercises.

Course Certificate Included

This course includes an optional online quiz that will generate a course certificate upon completion.

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