Our fraud risk assessment identify your vulnerability to internal fraud by working with individuals who have extensive knowledge of the organization’s operations. We work with these individuals to identify:
1. the potential inherent fraud risks.
2. assess the likelihood and significance of occurrence of the identified fraud risks.
3. evaluate which people and departments are most likely to commit fraud and identify the methods they are likely to use.
4. identify and map existing preventive and detective controls to the relevant fraud risks.
5. evaluate whether the identified controls are operating effectively and efficiently.
6. identify and evaluate residual fraud risks resulting from ineffective or nonexistent controls.