September 24 – 27, 2017 | SHAW Conference Centre, Edmonton

COSO Fraud Risk Management – What are Organizations Doing?

25 Sep 2017
10:30 - 11:20
Salon 3

COSO Fraud Risk Management – What are Organizations Doing?

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released a Fraud Risk Management Guide (the Anti-fraud Guide) in the fall of 2016. They strongly recommend that in addition to the required fraud risk assessment, organizations put a fraud risk management program in place to help protect themselves and their stakeholders from acts of intentional deception, whether originating internally or externally. The Anti-fraud Guide stresses that all employees have responsibilities with respect to fraud deterrence, prevention and detection.Senior management has overall responsibility for the design and implementation of an Anti-fraud program. Internal auditors play a key role in assessing monitoring internal controls. The Anti-fraud Guide states that internal auditors should assesses the ongoing governance framework and ensure that the audit committee is made aware of instances of fraud, the results of investigations into fraud, corrective actions, and monitoring plans. This presentation will discuss the opportunities for internal auditors to add value and contribute to the success of their organization’s anti-fraud program by discussing the various roles internal auditors can play in deterring, preventing and detecting fraud.