Fraud risk assessment

Dealing with the first suspicion of fraud is one of the most difficult tasks a manager faces. Whether or not a company has invested time and money in adequate prevention mechanisms and compliance programs, a suspicion of fraud places a lot of uncertainty on management, while specific questions arise: Could this situation have been prevented? Is it my fault? Is it someone else's fault? Is that all or are we dealing with as yet unknown dimensions of this suspected fraud? What risks are we now facing and what could happen to us? Over the years, we have assisted many companies that have found themselves in this predicament and we know that the two main challenges to overcome are confusion and uncertainty.

The best approach is to carry out a preliminary fraud assessment, designed to clarify as quickly as possible the many questions that everyone feels the need to address. A Preliminary Fraud Assessment is a quick tool that analyzes the existing suspicion of fraud, while determining whether the suspicion is real and quickly outlining the best approach to take. A preliminary fraud assessment should give you a clear picture of how to tackle the problem, while providing you with an easy to follow step-by-step program. Ideally, preliminary fraud assessments should be supplemented with specific investigations, depending on the type of fraud you are dealing with.