Fraud Risk Assessment

Specializing in antifraud for INSIDER THREAT & FRAUD MANAGEMENT. The first step in effective fraud management is the Fraud Risk Assessment. It provides much more than the inputs required for a risk-based annual audit plan. The results of the evaluation begin the process to allow for the determination of risk appetite, tolerance levels (+/- %), key risk indicators (KRIs), identification of anomalies, and the development of predefined management actions and communication strategy in response to exception reporting. Benefits of the fraud risk assessment include: Visibility into the organization’s fraud risk; Understanding of the risks by department and scheme; Prioritize antifraud efforts and allocate resources effectively by focusing on the risks… Read More

Continue Reading

Personalized Statistical Fraud Risk Report

The objective of the report is to provide a tool for management to adequately create a strategy to mitigate, avoid, accept, or transfer fraud risk. A detailed set of analysis is performed so as to be a roadmap for management to take action to address the risk for fraud by providing:

* Visibility into the organization’s fraud risk;

* An understanding of fraud risk by department and scheme;

* Prioritization of antifraud efforts;

* Ability to quantify impact and likelihood for COSO Enterprise Risk Management (ERM); and

* Benchmark for Key Risk Indicators (KRIs).

Continue Reading