Information on individual educational components (ECTS-Course descriptions) per semester

Risk & Fraud

Degree programme International Business Administration
Subject area Business and Management
Type of degree Bachelor
Winter Semester 2023
Course unit title Risk & Fraud
Course unit code 025007055005
Language of instruction English
Type of course unit (compulsory, optional) Elective
Teaching hours per week 2
Year of study 2023
Level of the course / module according to the curriculum
Number of ECTS credits allocated 3
Name of lecturer(s) Martin FITZ
Requirements and Prerequisites

The course unit is designed for students with no previous knowledge of risk and fraud.

Course content

Central topics:

  • Introduction to good corporate governance with a view to the various tools for this purpose.
  • Introduction to risk management, especially operational risk (across business lines and industries)
  • Overview of possible types of fraud as well as detection and combating by means of an internal control system (ICS).
  • Introduction to internal audit for the targeted review of structures and processes and for promoting and optimising efficiency and effectiveness.


Learning outcomes


  • Students develop the skills to implement the principles of good corporate governance and thus to be successful in today's business environment in the areas of risk management, fraud prevention and internal audit.
  • They also develop a fundamental understanding of how operational risks are managed, how fraud in its many and varied forms is identified and prevented, and how internal audit is used to safeguard and optimise business processes.


  • The students show understanding for the sense and benefits of good corporate governance.
  • They understand why risk management reduces losses and improves reputation, what kind of fraud they can expect and how they can prevent it through appropriate internal control measures.
  • Students will understand how Internal Audit promotes greater security and ongoing optimisation of organisation and processes.
  • Their understanding will be enhanced by working on current case studies, practical experience and examples of best practice.

Application & Synthesis

  • Students are sensitised to ensure good governance in their organisations and protect them from harm by implementing risk management, fraud prevention and internal audit.

Analysis & Evaluation

  • Students learn to use the tools of risk management, to assess the effectiveness of risk management and to contribute to an improved risk culture.
  • Students are aware of the most important red warning signs of fraud that can occur at all levels of staff and management. They are able to prevent fraud by appropriate means.
  • Students will be able to identify and apply internal audit procedures in a useful way.


Planned learning activities and teaching methods
  • Lecture series
  • Case study
  • Group work
  • Peer feedback
  • Short movie clip
  • Discussion
Assessment methods and criteria

 Exam modalities:

70 % Term paper (per group, teamwork)

30 % Participation and Involvment in the Class




Recommended or required reading

Recommended / Literature proposed:

  • Association of Certified Fraud Examiners (ACFE): 2020 Fraud Examiners Manual: International edition. Austin: ACFE                             
  • The Institut of Internal Auditors / Global: International Professional Practices Framework (IPPF) (2015): Lake Mary, FL, USA             
  • The Institute of Internal Auditors / Global: IPPF Standards 2017. Lake Mary, FL, USA                                                                                  
  • The Institute of Internal Auditors / Global: IPPF Code of Ethics. Lake Mary, FL, USA                                                                                     
  • Schuchter, Alexander & Levi, Michael (2015): Beyond the fraud triangle: Swiss and Austrian elite fraudsters. Accounting Forum 39(3). Amsterdam: Elsevier. file:///C:/Users/bau16536/Downloads/SchuchterandLeviAc-countingForum2015.pdf
  • Committee of Sponsoring Organizations of the Treadway Commission (COSO) (2013): Internal Control - Integrated Framework: Executive Summary
  • Committee of Sponsoring Organizations of the Treadway Commission (COSO) (2017): Enterprise Risk Management - Integration with Strategy and Performance: Executive Summary                                                                                                                                                                                       
Mode of delivery (face-to-face, distance learning)