What is Fraud Risk Management?

What is Fraud Risk Management?

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Created By Admin Last Updated Fri, 07-Aug-2020

What is Fraud Risk Management?

Corporate fraud and misconduct continue to be a threat to public trust and confidence in the capital markets. As organizations do their best to formulate a comprehensive, proactive strategy to prevent,

detect, and respond to integrity threats, they can be well served in focusing their efforts on the following:

  1. Identifying and understanding the risk of fraud and misconduct that can undermine increasingly complex, global business objectives
  2. Evaluating the design and operational effectiveness of corporate compliance programs and related antifraud programs and controls
  3. Having better insight on ways to design and evaluate controls to prevent, detect, and respond to fraud and misconduct
  4. Reducing exposure to corporate liability, sanctions, and litigation that may arise from violations of law or stakeholder expectations
  5. Developing value from compliance investments by creating a sustainable process for managing risk and improving performance
  6. Attaining high levels of business integrity through sound corporate governance, internal control, and transparency