Tuesday 19 April, 2016 | Duration 7:00 | Chambre de Commerce Luxembourg
Courses / Advanced - When fraud strikes your company, are you prepared to face the crisis?
“ILA fraud awareness and management training”
When fraud strikes your company, are you prepared to face the crisis?
“ILA fraud awareness and management training”
Course outline
Frauds continue to occur, despite much less media attention in recent years. Fraud and its repercussions can have a devastating effect upon companies and individuals, not only financially but also in terms of reputation and human cost.
The Members of Boards of Directors are finding themselves under increasing scrutiny from shareholders, regulators and other stakeholders in the companies for whose governance they are responsible from a fraud perspective. Luxembourg companies may be impacted not only by Luxembourg law, but also by numerous foreign legislations.
Furthermore, Directors need to ensure that they are sufficiently up to date with current developments from a fraud perspective, including, inter alia, cybercrime, anti-money laundering legislation, fraud legislation with cross-border impacts such as US legislation, and new supervisory expectations in terms of qualifications of Directors.
Objectives of the course
The objective of this full-day course is to help Company Directors oversee the mitigation of fraud within their organisation, inter alia by asking the right questions.
What's new compared to last year
The case studies have been recently updated according to current developments. The course is developed with a practical approach based on real-life case-studies, workshops and panel discussions. The modules are mostly in a form of a group work with active participation in order to increase the effectiveness of the takeaways.
In the afternoon session are included two new modules focusing on practical and more complex topics how to identify fraud and manage emergency situations on the level of the Board.
The full-day course will be split in a morning and afternoon session. Participants can choose to apply solely for the morning/afternoon session or for the entire day, profiting thus from a reduced fee.

Morning Session

The morning session could be considered as a prerequisite to the afternoon modules, covering less complex content. Attendance in the morning session is not imperative but advisable to actively participate in the afternoon activities. The morning session covers the following modules:
  • Module 1: Awareness of Directors’ responsibilities in Luxembourg environment for newly appointed Directors. Overview of main applicable laws and introduction to criminal and civil liabilities
  • Module 2: Bribery and Corruption
  • Module 3: Weaknesses in Internal Controls

Afternoon Session

The afternoon session is designed to simulate real-life scenarios, helping directors to identify hidden fraud risks, as well as to provide minimum guidelines on courses of actions that shall be taken by directors in case of emergency. The afternoon session covers the following modules, where modules 5a and 5b will be running simultaneously. Participants will choose which of the modules they would like to attend upon registration:
  • Module 4: Crisis Management “First Aid kit” how to react when a company is hit by fraud and its reputation is at risk
  • Module 5a - Identifying red flags in accounting, financial and legal documents
  • Module 5b - The hidden danger of accepting a “Nominee Director” mandate
Rosario Grasso, Alain Hondequin, François Kremer, John Li, Christian Van Nedervelde, Elisa Da Silva, Michael Weis, Gérard Zolt
Practical information
  • Language: English
  • Length: Full Day: 7 hours, Morning/Afternoon session: 4 hours
  • Venue: Chamber of Commerce, 7 rue Alcide de Gasperi, Luxembourg-Kirchberg
  • Participation fee:
    Full day: 560,00 € for members / 670,00 € for non-members (lunch and cocktail included)
    Half day: 300,00 € for members / 380,00 € for non-members (all our fees are VAT 3% excluded)
    The morning session includes lunch and the afternoon session includes a cocktail
  • Payment: an invoice will be sent by mail to the participant after registration
  • Credited Hours for ILA Certified Directors: 4 or 7 hours
  • Registration information: will be available soon on this website
Program_Fraud 19.04.16 | pdf file | 270 Ko