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

Degree programme:Bachelor International Business Full-time
Type of degree:FH BachelorĀ“s Degree Programme
 Winter Semester 2021

Course unit titleRisk & Fraud
Course unit code025007055005
Language of instructionEnglish
Type of course unit (compulsory, optional)Compulsory
Semester when the course unit is deliveredWinter Semester 2021
Teaching hours per week2
Year of study2021
Level of course unit (e.g. first, second or third cycle)First Cycle (Bachelor)
Number of ECTS credits allocated3
Name of lecturer(s)Martin FITZ

Prerequisites and co-requisites

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)


Winter Semester 2021go Top