A fraud risk assessment is a dynamic process for identifying and assessing an organisation’s approach and activities to countering fraud and corruption.

Business Fraud Prevention

Strategic Fraud Risk

For example:

  • The tone and expectations of management to enforce an anti-fraud culture
  • How the awareness of the risks of fraud are relayed throughout the organisation
  • Reviewing the corporate strategy to assess how fraud risk is considered and how that aligns with the organisation’s risk appetite and strategic plans

Operational Fraud Risk

For example:

  • Monitoring the organisation’s fraud risk management activities
  • Is adequate resource, budget and training provided to those who investigate
  • Do the policies and procedures in place compliment the organisation's zero-tolerance approach to fraud and bribery.