The Committee of Sponsoring Organizations of the Treadway Commission (COSO) began its existence with a focus on fraud. Soon, however, COSO shifted its attention to internal controls. ALL publicly-traded US companies (as well as most other organizations around the world) follow the COSO Internal Control Framework (ICF), initially published in 1992. COSO returned to its fraud-focused roots when it revised the ICF in 2013. COSO added 17 important principles, including Principle 8: The organization considers the potential for fraud in assessing risks to the achievement of objectives. In response to COSO-follower needs for further guidance on assessing fraud risk, COSO (along with the ACFE) published a new Fraud Risk Management Guide in September 2016. This course will explain what this new fraud risk management guidance requires, what it portends for accountability professionals working for corporations and other organizations, and what it will mean for auditors. Every organization that uses the COSO ICF will benefit from this course on this important new guidance.