2.4 Stopping Fraud at Source – Implementing a Successful Fraud Risk Management Program
Level: Intermediate
Many internal audit professionals tend to underestimate the role of fraud in the scope of their professional duties. With organizations losing an estimated 5% of their annual revenues to fraud, the need for a strong anti-fraud stance and proactive, comprehensive approach to combating fraud is clear. As organizations increase their focus on risk, they should take the opportunity to consider, enact and improve measures to detect, deter and prevent fraud.
Does your organization have an effective fraud risk managment program? Are you aware of all the areas in the business where fraud can occur? If not, you could be leaving your organization vulnerable to fraud.
This session will explain how organizations can integrate anti-fraud initiatives into their risk management programs. The attendees will learn how to:
- Identify fraud risks and the factors that influence them
- Develop and implement the necessary components of a successful fraud risk management program
- Perform a comprehensive fraud risk assessment across the organization
- Identify and implement the elements of a strong anti-fraud corporate culture
- Promote fraud awareness to employees at all levels of the organization